Bullish sentiment in the market: Is it time for a huge rally?

The global crypto market cap increased by 7.98% in the last 24 hours to an estimated 1.1T, with Bitcoin (BTC) rallying by more than 11% to $24,582, whereas Ethereum (ETH) was above the $1,650 level, followed by the major altcoins, before having a slight correction in the last 2 hours.

Causes for the global growth

This significant increase is mainly due to many investors liquidating their positions, driving the price up.

After several weeks, we are facing bullish market sentiment, and as some leading crypto experts predict, the price of BTC could go even higher in the coming hours. Here's what Mike Novogratz, American investor, crypto advocate, and the CEO of the company Galaxy Digital Holdings Limited, said:

"When I look at the price action, when I look at the excitement of the customers calling, the FOMO building up, it wouldn't surprise me if we were at $30,000 by the end of the quarter.”

His prediction is that Bitcoin will reach $30,000 fairly soon. It must be said, however, that he also stated that Bitcoin would reach $500,000 by the end of 2027 and at the moment we are far behind from this prediction.

Another major industry figure, Edul Patel, Co-founder and CEO at Mudrex remained a bit more cautious about the current market surge, saying:

"If bullish investors maintain their momentum, BTC may reach US$25,000 soon. Overall, there is bullish sentiment in the market."

Very encouraging words without giving too much away. The certain fact, at the moment is that Bitcoin surged more than 11% and reached this level for the first time in 2 weeks.

However, there is a very optimistic mood on the part of the big investors, which could prompt even small investors to take advantage of the moment. Should we expect a consistent and steady rally or a significant correction after these hours of great exploit? We will know soon enough.