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The Bitcoin (BTC) market witnessed a breathtaking surge towards $31k on Monday, as key stakeholders demonstrated unwavering confidence and encouraging signs of accumulation. An optimistic outlook for the industry emerged when Coinbase, a leading cryptocurrency exchange, was named in the BlackRock-backed Bitcoin ETF re-application by Nasdaq.

This development marked a significant step forward for the market surveillance program and reinforced the industry’s bullish sentiment.

A Thriving Crypto Industry

Despite the ongoing regulatory scrutiny by the Securities and Exchange Commission (SEC), experts believe that the crypto market, led by Bitcoin, has received substantial validation. A $10 trillion investment fund manager’s support has bolstered confidence in the industry.

This endorsement carries significant weight and highlights the growing acceptance of cryptocurrencies.

Santiment: Watch Out for these Top Altcoins

According to market intelligence platform  santiment

santiment

On-Chain

, several top altcoins are demonstrating a bullish outlook as their social dominance continues to grow. While Bitcoin maintains a high social dominance of approximately 23.95 percent, some noteworthy altcoins are gaining traction.

For instance, as of June 28, Ethereum boasted a social dominance of about 7.32 percent, XRP at 1.17 percent, Cardano (ADA) at approximately 1.53 percent, and BNB around 0.643 percent.