Today, the cryptocurrency market is experiencing a positive trajectory, as evidenced by its total market value reaching $2.35 trillion on May 17 after a 2.50% increase in the past 24 hours. Bitcoin (BTC) and Ethereum (ETH) have contributed to this growth, with their prices rising by 2% and 4% respectively during the same timeframe. This upward trend suggests a potential recovery in the market following the uncertainties and significant losses seen since March. Notably, both Bitcoin and Ethereum are displaying strong momentum amidst this price rebound. Coinglass’s Relative Strength Index (RSI) heatmap on May 17 provides valuable insights into this development.
