Crypto Market Sees Significant Surge, Analysts Warn of Potential FOMO

The cryptocurrency market has experienced a significant surge in recent days, with prices rising sharply after months of stagnation.

According to data from Santiment, Bitcoin is challenging the $70,000 mark, while altcoins are experiencing gains exceeding 20%.

Analysts have attributed this rise to a technical and psychological 'relief rally', driven by investors who were previously extremely fearful and had lost hope in crypto.

However, experts warn that if Bitcoin breaks the $71,000-$73,000 range, FOMO could sweep the market, leading to potentially unsustainable price increases.

Ethereum is also experiencing gains, but its MVRV ratio of -6% suggests it may be lagging behind other altcoins and in need of a 'catch-up' attack.