US pension funds could soon invest in crypto, and XRP surges alongside others
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📈 Bitcoin nears $117,000 - as Fear & Greed Index edges into “Greed” territory.
🚀 XRP jumps 11% - after Ripple’s five-year SEC battle comes to a close.
🌟 Stellar (XLM) rallies 15% - gaining over 70% in 30 days.
🏦 Trump opens door - for US pension funds to invest in alternative assets like crypto.
As the Fear and Greed Index continues to push into “Greed” this week, Bitcoin (BTC) and the broader crypto market are up significantly over the past 24 hours. The market-cap leader is now trading just below $117,000, while Ethereum is approaching the key $4,000 level, gaining more than 5% overnight. XRP is the biggest mover, jumping 11% after Ripple Labs, the issuer of XRP, finally concluded its five-year legal battle with the Securities and Exchange Commission.
Further down the market cap list, some altcoins are posting outsized gains. Stellar (XLM) is up more than 15% overnight, bringing its 30-day rally to over 70%.
The rally coincides with news from the US: President Donald Trump is expected to open the door for pension funds to include “alternative assets” in their portfolios. If it happens, it could open crypto to massive amounts of new capital.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.87 trillion, up 2.95% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $116,113, up 1.86% in the last 24 h
Daily high: $117,596
Daily low: $114,764
📈 S&P 500 ↘️
SPY is currently down about 0.08% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 59/100, bordering on Greed.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 58, in neutral territory.
Data is accurate as at 07:35 GMT, 08 August.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
