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Bitcoin Leads Crypto Market Surge on October 31 as Global Market Cap Soars and Altcoins Rally

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Bitcoin (BTC), the oldest and most valued cryptocurrency, managed to hold on to the $34,000 mark early Tuesday, as the overall market’s Fear & Greed Index stood at 72 (greed) as per CoinMarketCap. Ethereum (ETH) is steadily eyeing the $1,800 mark. Popular altcoins such as Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) saw minor jumps across the board. THORChain (RUNE) became the top gainer with a 24-hour jump of over 14 percent, while Render (RNDR) became the biggest loser with a 24-hour dip of over 4 percent.

The global crypto market cap stood at $1.27 trillion at the time of writing, registering a 24-hour gain of 0.35 percent. Bitcoin price stood at $34,259.87, registering a 24-hour dip of 0.19 percent. Ethereum price stood at $1,799.78, marking a 24-hour jump of 0.78 percent. Dogecoin registered a 24-hour gain of 0.65 percent, currently priced at $0.06922. Litecoin saw a 24-hour gain of 0.88 percent, trading at $68.94. XRP price stood at $0.5758, seeing a 24-hour jump of 3.92 percent. Solana price stood at $35.70, marking a 24-hour gain of 9.44 percent.

The top gainers in the past 24 hours were THORChain (RUNE) with a 14.18 percent gain, BitTorrent(NEW) (BTT) with a 13.37 percent gain, Solana (SOL) with a 9.27 percent gain, Arweave (AR) with a 9.01 percent gain, and Cosmos (ATOM) with a 7.60 percent gain. The top losers in the past 24 hours were Render (RNDR) with a 4.31 percent loss, Axie Infinity (AXS) with a 3.97 percent loss, Injective (INJ) with a 3.91 percent loss, Neo (NEO) with a 2.89 percent loss, and WOO Network (WOO) with a 2.71 percent loss.

Experts from various crypto exchanges shared their opinions on the current market scenario. They mentioned factors such as the US Federal Reserve’s forthcoming decision on interest rates, short-term BTC holders participating in profit-taking events, growing institutional interest in Bitcoin, and the potential approval of the Bitcoin Spot ETF in the United States as reasons for the current market trends.

However, it is important to note that investing in cryptocurrency carries risks, and readers are advised to seek expert advice and carefully consider their investments before making any decisions. The cryptocurrency market is highly volatile and speculative, and there is no regulatory recourse for any losses from such transactions.

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