Cryptocurrency Markets Surge As Bitcoin Edges Toward Record High

Despite minor market fluctuations, the cryptocurrency sector has seen a surge in recent weeks. Bitcoin has reached unprecedented levels, trading between $125,000 and $123,000 after breaking through previous records over the weekend. While the altcoin market also experienced gains, profit-taking has impacted some prominent assets like Dogecoin and Cardano. Overall market capitalization has climbed to $4.07 trillion, with the Crypto Fear & Greed Index currently sitting at 64 – signifying a cautious approach by investors. ETF-backed spot demand is considered the dominant factor driving this upward trend.