Since the August 5 local bottom, there has been clear evidence of accumulation by institutions and whales in the crypto market. This trend is further supported by the recent increase in market capitalization, which has surged from approximately $2.0 trillion to $2.2 trillion in just one week. This bullish movement is driven by the resurgence of both Bitcoin (BTC) and altcoins, signaling a renewed interest and confidence in the market.
It is important to note that this uptick in market capitalization is a positive indicator of the overall health and strength of the crypto industry. As institutions and large investors continue to show interest in digital assets, we can expect to see further growth and stability in the market.