The cryptocurrency market saw a modest increase on May 28th, with its total valuation reaching $3.44 trillion, representing a 0.47% rise from the previous day. While Bitcoin (BTC) dipped slightly after reaching a new all-time high, it remains near its peak due to favorable regulatory developments and increased institutional investment. Despite this, the decline in BTC’s price is likely attributed to profit-taking by large investors. Notably, Ethereum (ETH) mirrored BTC’s movements with minimal fluctuations. 📈
The Fear and Greed Index currently sits at 68, indicating a continued presence in the ‘Greed’ zone. This trend is further evidenced by the market long-short ratio of 1.08, which signifies a predominantly bullish sentiment. However, altcoins have witnessed declines, lacking a unified narrative or focal point. 📉
Investors are advised to closely observe future capital flows and shifts in market sentiment for informed decisions.