Why is the crypto market up today? By Cointelegraph

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The crypto market is up today as (BTC), Ether (ETH), (ADA) and numerous altcoins rallied after multiple large institutions followed BlackRock (NYSE:) and filed for Bitcoin ETFs in the United States.

Bitcoin price reached $30,000 for the first time since April 18 while also cementing a 36% year-over-year gain since China warned BTC was heading to zero in June 2022.

Total crypto liquidations in 1-day. Source: Coinglass
Bitcoin long versus short ratio. Source: Coinglass
Bitcoin net exchange position change. Source: Glassnode
Bitcoin Fear & Greed Index. Source: Alternative.me