The Cryptocurrency Market shows initial signs of improvement from the worst month of three years after the price of Bitcoin (BTC) threw himself to $ 78,000 in a week when the total market value of the place fell by over $ 400 billion.
The price dipped Crypto Fear & Greed Index to 10, a level that had not been seen since 2022 the bear market. However, it has since reached 20, while it is still in the “extreme fear” area.
Bitcoin’s price has now risen more than 3% in the last 24-hour period to now trade over $ 84,400, while the wider Coindesk 20 index (CD20) rose 1.5% in the same period to 2,700. Its performance is affected by sun dip almost 3% during the period, while other components are ready for the day.
The Cryptocurrency Market seemed to have caught a bid after the White House announced that US President Donald Trump will host a crypto summit on March 7. Summit participants are set to include “prominent founders, CEOs and investors of Crypto Industry as well as members of the president’s working group on digital assets, according to a press release.
The event is the latest sign of Trump administration’s pro-crypto policies. It comes after the US Securities and Exchange Commission (SEC) fell litigation against Coinbase and Metamask Developer Consensys, as well as studies of Robinhood, Gemini, Uniswap Labs and OpenSea.
In addition, the world’s largest asset manager, Blackrock, has added an award of 1% to 2% of its Ishares Bitcoin Trust (Ibit) to one of its model portfolios. These models suggest portfolio and rebalance strategies, which are subsequently performed by advisers and platforms. This is the first time Blackrock has decided to add ibit to any of its models that open the potential for a new wave of demand for Bitcoin ETFs.
Per. December 31, 2024, Blackrock’s model portfolios administer about $ 150 billion in assets.
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