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The crypto market cap surged more than 3 percent in the last 24 hours to hover about $2.5 trillion on Tuesday during the early European session. Bitcoin’s (BTC) price pumped around 3 percent in the past 24 hours to reach $65k before retracting towards $64.4k at the time of this report.
As a result, Bitcoin’s price regained both the 50- and 200-day Moving Averages (MA) as a crucial support level. The notable Bitcoin price rebound carried with it the entire altcoin industry, led by Ethereum (ETH), Solana (SOL), and BNB.
Top Reasons Crypto Surged
The crypto market has been reacting to the recent failed assassination of pro-crypto US presidential candidate Donald Trump. The fear and greed index surged to around 65 percent as Bitcoin price rallied above $64k, which signifies greed.
After registering more than $1 billion in cash inflows last week, US spot Bitcoin ETFs, led by BlackRock’s IBIT, registered more than $300 million on Monday.
Meanwhile, the US SEC is rumored to have given several spot Ether ETF issuers the greenlight to begin trading by Tuesday, July 23.
Top Altcoins to Watch Ahead
In the past few months, the altcoin industry has presented a lifetime opportunity for long-term investors. However, most analysts, led by veteran trader Peter Brandt, believe the crypto industry is about to enter its euphoric phase after undergoing a 20-40 percent correction in the past four months.
Render (RNDR), Aave (AAVE), and Maker (MKR) are the three most notable altcoins seeing address activity rises the past couple of days amongst the many market cap rises. Historically, rising levels of wallets interacting on networks is a sign of future bullish behavior. pic.twitter.com/N60Uxn4XSU
— Santiment (@santimentfeed) July 15, 2024
According to the crypto intelligence platform Santiment, traders should pay attention to altcoins with rising address activity to maximize potential returns. Santiment spotted Render (RNDR), Aave (AAVE), and Maker (MKR) as the most promising altcoins with notable rising address activity in the recent past.
