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▲ Bitcoin (BTC) Investment ©Dasol Go
Signs are being detected in various places that the market, having emerged from fear, has begun to find its direction again.
According to investment media FXStreet on April 21 (local time), the total cryptocurrency market capitalization rose by 2.52% over 24 hours to record $2.56 trillion, continuing its recovery trend. Basic Attention Token rose by 7.7%, Immutable by 7.6%, and Toncoin by 5.9%, while Tron fell by 0.74%, clearly showing differentiation among assets.
The Fear & Greed Index, which indicates market sentiment, rose to 33, reaching its highest level since January 19. Although still in the 'fear' zone, it is approaching the neutral territory, indicating a rapidly improving investment sentiment.
Bitcoin (BTC) is trading around $76,000, gradually raising its support line. The trend of converting the March high into a support line is technically interpreted as a signal of continued upward movement, with the next target area suggested at $86,000, where the 200-day moving average is located. The fact that the price has settled above approximately $69,400, which is the realized price for short-term holders, is also contributing to market confidence recovery.
Fund flows are also improving. According to CoinShares data, global cryptocurrency fund inflows last week reached $1.401 billion, the highest since mid-January. $1.116 billion flowed into Bitcoin and $328 million into Ethereum, while XRP saw an outflow of $56 million. Strategy purchased 34,164 BTC for $2.54 billion, marking its largest acquisition since November 2024, bringing its total holdings to 815,061 BTC.
However, risk factors remain. Following the KelpDAO hack, over $13 billion was withdrawn from DeFi over two days, partially reaffirming market instability. Nevertheless, as long as institutional demand expansion and improving sentiment continue, the market is likely to maintain a gradual recovery phase, according to evaluations.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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