Bitcoin and various altcoins surged on August 13, driven by an increase in the Crypto Fear and Greed Index and expectations of a Federal Reserve interest rate cut.
Bitcoin and Altcoins Surge in the Market
Amid the rise in the Fear and Greed Index, Bitcoin crossed the significant resistance level at $122,000, while Ethereum surged above $4,700. Other successful tokens include Solana, Binance Coin, and Ripple.
Increased Institutional Demand for Crypto
There is rising demand among institutional investors, as evidenced by record inflows into ETFs. Over the past week, more than $1.7 billion flowed into spot Ethereum ETFs. This demand could push crypto prices to new highs.
Risks Facing the Crypto Bull Run
Although the current crypto rally is promising, analysts see potential risks ahead. Some warn of caution as derivatives data indicates that traders remain guarded. Furthermore, Bitcoin may form a double-top pattern, which, if confirmed, could lead to significant price corrections.
The cryptocurrency market is showing positive trends, yet several risks could impact its future development.
