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Cryptocurrency markets entered a significant uptrend this week. The upward trend throughout the week compensated for the downward trend that started at the beginning of June.
Total cryptocurrency market cap has reached $1.19 trillion, up 12% since the start of the week. Thus, the cryptocurrencies, which regressed with the SEC effect at the beginning of the month, returned to their April levels by compensating their losses.
To give a short summary; After the crypto money market entered a downward trend following the lawsuits filed by the SEC, it continued this trend with hawkish statements from the Fed wing. However, towards the end of last week, BlackRock's spot Bitcoin ETF move triggered a reversal of the outlook.
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