БлокчейнВыживальщик(@Square-Creator-4f4160064)'s insights

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Nansen analyst shared his view on the recent rally in the cryptocurrency market, which wiped out almost $300 million in short positions, contributing to a significant recovery in prices. 📈 On May 21, the total capitalization of the cryptocurrency market increased by hundreds of billions in a few hours. This was preceded by an increase in demand for Bitcoin (BTC), as 11 US spot BTC ETFs saw outflows of more than $950 million. According to analyst Nansen, the key factor was the approval of spot Ethereum (ETH) ETFs, which unexpectedly boosted market sentiment. “The approval of the ETH ETF was fully heeded and positively surprised the markets,” the analyst explained. Despite progress, the process may be gradual. At the time of publication, market prices have stabilized after a two-day explosion that took BTC above $70,000 and ETH above $3,700. The total capitalization of the cryptocurrency market hovers around $2.7 trillion.

Nansen analyst shared his view on the recent rally in the cryptocurrency market, which wiped out almost $300 million in short positions, contributing to a significant recovery in prices. 📈
On May 21, the total capitalization of the cryptocurrency market increased by hundreds of billions in a few hours. This was preceded by an increase in demand for Bitcoin (BTC), as 11 US spot BTC ETFs saw outflows of more than $950 million.
According to analyst Nansen, the key factor was the approval of spot Ethereum (ETH) ETFs, which unexpectedly boosted market sentiment. 
“The approval of the ETH ETF was fully heeded and positively surprised the markets,” the analyst explained. 
Despite progress, the process may be gradual. 
At the time of publication, market prices have stabilized after a two-day explosion that took BTC above $70,000 and ETH above $3,700. The total capitalization of the cryptocurrency market hovers around $2.7 trillion.