Why is the crypto market today? BTC above $ 84k while the fear of crypto is losing; Trump’s Summit, Blackrock Boost Market
The cryptocurrency market shows initial signs of recovery from it Worst months in three years After the price of Bitcoin (BTC) fell to $ 78,000 a week that saw a total of a total space capitalization of more than $ 400 billion.
Sinking in prices has seen the Crypto Fear & Greed Index Plunge at 10, a level that has not been seen since the 2022 bear market. However, it has since recovered to 20 while in the “extreme fear” range.
Bitcoin’s price has now increased by more than 3% in the last 24 -hour period to trade above $ 84,400, while the wider CoinDesk 20 Index (CD20) Rose 1.5% at the same period at 2,700. Its performance is affected by the SOL sinking of almost 3% during the season, while the other ingredients are up to the sun.
The cryptocurrency market seems to have caught a bid after the White House announced that US President Donald Trump is Host a crypto summit On March 7. Summit attendees are set to include “known founders, CEOs, and investors from the crypto industry, as well as members of the president’s working group in digital assets, according to a press release.
The event is the latest sign of the Trump administration’s pro-crypto policies. This came after the US Securities and Exchange Commission (SEC) dropped suits against Coinbase and Metamask Developer Consensys, as well as investigations into Robinhood, Gemini, Uniswap Labs, and Opensea.
In addition, the world’s largest manager, BlackRock, added a 1% to 2% allocation of his ishares Bitcoin Trust (IBIT) to One of the portfolios of its model. These models suggest portfolio and rebalancing techniques that are subsequently conducted by counselors and platforms. This is the first time the Blackrock has decided to add Ibit to any of its models, opening the potential for a new demand wave for Bitcoin ETFs.
As of December 31, 2024, BlackRock model portfolios manage approximately $ 150 billion in property.
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