The capitalization of the crypto market is approaching  trillion again

The capitalization of the crypto market is approaching $1 trillion again

Bitcoin

After a huge upheaval, the exchange rate of BTC in recent days is slowly recovering. For the first time since May, it closed the week with a green candle. And the total capitalization of the cryptocurrency market rose from $762 billion to $954 billion (up 25%).

Here’s what we have as of Monday morning:

  • ВТС exchange rate – $21,232.09 (-0.99%);
  • Fear and Greed Index – 12 (extreme fear);
  • Market Dominance – 42%;
  • Market capitalization: $405.39 billion(-0.98%);
  • 24-hour trading volume: $16,253 million(-5.93%);
  • 24-hour high: $21,782;
  • 24-hour low: $20,965.

The demand response so far is so small that it’s hard to tell if the “bottom” of the market is behind us. In the short term, bitcoin needs to reach resistance in the $22,600 – $23,000 range – then there will be either a rebound or a breakdown of the line followed by growth.

Analyst Michael da Van Poppe believes that Bitcoin needs to overcome the $21,600 mark to continue the positive momentum.

Altcoins

Ethereum finally closes the candle with an uptrend after 11 weeks. The rebound, however, is relatively modest. EtN now stands at $1,221.83.

Other altcoins:

  • Binance Coin $238.60;
  • Solana $40.48;
  • TRON $0.068036;
  • Cardano $0.501898 (↑0.22%);
  • Avalanche $20.29.

More recently, many altcoins were trading 90%+ below their ATNs. Now the first brave investors have emerged who are using the “sell-off” in the crypto sector to boost their portfolios.

For steady growth to begin, the crypto market is waiting for positive macroeconomic signals. Unfortunately, they may not appear soon. Therefore, stay cautious and follow the news.

SHARE:

Leave a Reply

Avatar

Your email address will not be published.