"In the last 24 hours, the crypto market surged, led by Bitcoin's dominance, and the potential for a $1 trillion Bitcoin spot ETF.
As of October 26, 2023, Bitcoin rose by 1.80% to $34,494.22, with a 21.76% weekly gain.
Ethereum saw a 0.19% daily increase and a 14.27% weekly rise.
Solana spiked 7.72% daily and 38.57% weekly.
BNB decreased by 1.46% in 24 hours but gained 5.48% weekly.
CoinDesk's Market Index increased by 1.17% to 1,370.09, and open interest rose by 2.59% to $29.41 billion.
Bitcoin's fear & greed index is at 71, indicating greed, and it's similar on coinmarketcap.com.
Bitcoin's market share hit a 30-month high on October 25, 2023, as it outperforms altcoins.
This dominance is due to Bitcoin's lower risk and its leading role in the early stages of the crypto cycle.
The rally above $30,000 coincides with BlackRock's application for a Bitcoin ETF, potentially triggering a new wave of demand.
Analysts speculate that ETF approval could bring $1 trillion to Bitcoin's market cap.
Galaxy Digital's report suggests an influx of $14.4 billion in the first year and a 74% price increase after the ETF launch."
