FTX's $16 billion payout is expected to spark a massive rally in the cryptocurrency market, with potential gains ranging from 10x to 50x. Although Bitcoin has confirmed a breakdown from its multi-month consolidation range, it remains in an uptrend as long as it stays above $38,000. As of Monday, Bitcoin was priced at $55,422 during the early European session, and the fear and greed index dropped further to 28, indicating rising fear among investors. The post explores the timeline and factors that could propel the crypto market to new highs.
