Why is the crypto market surging today?

Crypto market recovery: A sigh of relief ?

The crypto market has recorded a significant rebound over the past 24 hours. The total market capitalization increased by nearly $79 billion to reach $3.82 trillion. This recovery follows the release of the FOMC (Federal Open Market Committee) minutes last Wednesday, which reassured investors about the future direction of U.S. monetary policy.

Indeed, investors now appear more optimistic, resulting in a clear improvement in overall market sentiment. This positive momentum has particularly benefited altcoins, with the striking example of OKB which surged 56% to reach a new all-time high of $195.

Bitcoin’s welcome support

Meanwhile, Bitcoin (BTC) has managed to stabilize around $113,990, retesting the support level at $112,526. This historical anchor could provide an opportunity for BTC to reclaim the $115,000 mark, a crucial threshold for confirming the recovery. A successful breakthrough of this level would constitute a bullish signal, especially if the general market sentiment continues to improve.

However, technical analysis shows that the RSI (Relative Strength Index) indicator currently indicates bearish momentum. If this pressure persists, the Bitcoin price could remain consolidated below $115,000, or even slip to $112,526.

OKB, today’s star crypto

The performance of OKB, which jumped 56% to reach a new absolute record of $195, has particularly caught attention. This remarkable bullish momentum has established OKB as the best-performing altcoin of the day, demonstrating investor confidence in this asset.

Currently trading around $190, OKB seems set to break the $200 barrier in the near future. The Parabolic SAR indicator, positioned below the candles, confirms the continuation of the positive trend. However, the possibility of profit-taking remains a concern, with a pullback to $120 being possible and potentially challenging the current bullish scenario.

The rise in the crypto market observed over the last 24 hours, driven by OKB’s performance and Bitcoin’s support, is an encouraging sign of returning investor confidence. Nevertheless, volatility remains a factor, and maintaining this positive momentum will depend on the evolution of general sentiment in the crypto market in the coming days.

Investors should remain vigilant and rely on thorough technical analysis to navigate this constantly evolving environment.

How to buy OKB on Bitget?

With its meteoric rise, OKB offers a rare investment opportunity as it rapidly approaches the symbolic $200 threshold. Here’s a simple guide to obtaining altcoins on Bitget:

1. Create a Bitget account: Visit Bitget’s official website or download the mobile app. Sign up with your email or phone number, then complete the identity verification (KYC).
2. Deposit funds: Log in and access the “Deposit” section. Add fiat currencies (EUR, USD, etc.) via bank card or SEPA transfer, or transfer cryptocurrencies.
3. Buy altcoins: Head to the “Quick Buy” or “Spot Market” section. Select the Altcoin/USDT pair, indicate the desired amount, and confirm the purchase, with limit order options available.

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