Bitcoin as crypto safe haven now
Crypto market capitalisation slipped another 1.4% to $1.97trn. Attempts to rebound with a return above the round level faced further pressure in the morning. Notably, this time, altcoins are falling ahead of the curve. Bitcoin lost 0.8% overnight, and its share of total market capitalisation rose to 40%. The turning point in the trend was evident at the start of the week. And it means that the crypto market is starting to get scared.
Interestingly, the Crypto Fear and Greed Index remains at 24 - extreme fear - for the second day. These are low levels but do not indicate a worsening of the situation. On the contrary, the index is creeping upwards. Bitcoin is trading near 41.7k, managed to hold above 40k yesterday despite massive pressure in traditional markets. However, this local support is unlikely to withstand sustained pressure.
Bitcoin is received support this week as investors sold altcoins, favouring the first cryptocurrency. This spillover is reminiscent of a risk-off situation, where the most liquid assets are in demand. Simply put, bitcoin is the crypto safe haven.
But everything is relative. Bitcoin hardly looks stable enough for most investors in it. The dynamics of bitcoin and ether near $40k and $3k, respectively, are worth keeping an eye on this week. A consolidation below these levels could start the next phase for cryptocurrency markets with higher volatility and accelerating declines in the early stages.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84% | 26 | $18 928.29 | -1.09% | -4.04% | $362 675 162 554 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 69.6% | 54 | $1 294.66 | -3.51% | -5.75% | $158 627 858 840 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000070 | 0% | 0% | $67 959 464 596 |  |
|
| 4 |  USDC |
USD Coin predictions | 96% | 1 | $1.000014 | 0.01% | -0.01% | $49 594 307 856 |  |
|
| 5 |  BNB |
Binance Coin predictions | 90% | 15 | $274.74 | -1.09% | 1.13% | $44 325 985 527 |  |
|
| 6 |  XRP |
XRP predictions | 63.2% | 74 | $0.500514 | -0.70% | 26.97% | $24 950 009 051 |  |
|
| 7 |  BUSD |
Binance USD predictions | 92.4% | 1 | $1.000119 | 0% | 0% | $20 519 701 371 |  |
|
| 8 |  ADA |
Cardano predictions | 79.2% | 32 | $0.447321 | -2.92% | -3.50% | $15 312 533 995 |  |
|
| 9 |  SOL |
Solana predictions | 84.4% | 29 | $32.55 | -3.85% | 0.89% | $11 545 262 081 |  |
|
| 10 |  STETH |
Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 88.4% | 15 | $0.061629 | -4.48% | 3.07% | $8 176 334 390 |  |
|
| 12 |  DOT |
Polkadot predictions | 78.4% | 41 | $6.22 | -3.37% | -7.84% | $6 968 389 291 |  |
|
| 13 |  DAI |
Dai predictions | 93.6% | 1 | $0.999457 | -0.02% | -0.02% | $6 926 301 960 |  |
|
| 14 |  MATIC |
Polygon predictions | 73.6% | 55 | $0.746252 | -3.07% | -5.23% | $6 518 004 616 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 76.4% | 42 | $0.000011 | -4.47% | -2.59% | $6 105 472 299 |  |
