The global cryptocurrency market has witnessed a substantial surge in recent days, buoyed by speculation surrounding potential policy changes in the United States.
Market data indicates that the crypto market's value climbed to $2.24 trillion over the past 24 hours, marking a significant increase of 2.27%.
Bitcoin and Ethereum, two of the most prominent cryptocurrencies, experienced notable price hikes, with Bitcoin rising by 3.2% to approximately $65k, while Ethereum gained 4% to trade at around $1.9k.
The market's uptick is attributed to a sentiment-driven bounce fueled by hopes for U.S. policy changes and a squeeze on bearish positions.
Analysts emphasize that the rally lacks a fundamental anchor, making it crucial for investors to monitor concrete announcements from the White House Summit on February 28 regarding key legislation.