The crypto market is experiencing significant growth on Monday, with Bitcoin hitting a record price while altcoins like Jasmy, Sui, and Algorand show strong performance.
Bitcoin and altcoins price surge
Bitcoin reached a record price of over $122,000, while Jasmy, Sui, and Algorand soared by over 16%. The total market capitalization of cryptocurrencies increased by 3.6%, reaching $3.8 trillion.
Crypto ETF inflows increase
Data shows that crypto ETFs saw significant inflows: spot Bitcoin ETFs attracted over $2.72 billion, a significant increase from $769 million last week. Total investments in crypto ETFs now exceed $52 billion.
Anticipated Federal Reserve interest rate cuts
The rally in the crypto market is occurring as investors anticipate interest rate cuts from the Fed. Analysts forecast two cuts this year, creating favorable conditions for rising cryptocurrency prices.
Currently, positive sentiment dominates the crypto market, driven by Bitcoin's record performance, increased ETF inflows, and hopes for economic changes in the U.S.
