Bitcoin benefiting from gains in equities
Bitcoin gained 6% on Thursday, ending the day around $21,600 and developing gains on Friday to $22,400, pulling back to 21,800 (+7.2% in 24 hours) at the time of writing. Ethereum added 6.5% to $1240, while other leading altcoins gained between 1.9% (BNB) and 3.2% (Solana). Total crypto market capitalisation, according to CoinMarketCap, rose 5% overnight to $962bn.
The Cryptocurrency Fear and Greed Index was up 2 points to 20 by Friday and remains in “extreme fear” mode. As we can see, the first and second cryptocurrencies outperform the rest of the market, indicating a recovery in demand among professional investors following the strengthening of stock indices. Since the beginning of the month, BTCUSD has gained more than 17%, which looks like an impressive result but only at first glance.
The thing is, bitcoin was driven as low as possible by the end of June, and the current remarkable rise is just a recovery to the levels of 3 weeks ago. BTCUSD is still below its 200-week average and sold off again today on its approaches, indicating a significant supply overhang from sellers. Bloomberg believes the crypto market has bottomed out, and BTC will resume its offensive in the next six months. According to Bank Of America, the number of active cryptocurrency users is down more than 50% from its peak in November last year.
At the same time, consumer interest in digital assets remains at a reasonably high level. A US investor has filed a class-action lawsuit in California court against Solana and its partners, accusing them of illegally profiting from selling SOL tokens as a security.
The developers of Ethereum continue to test the transition to the Proof-of-Stake consensus algorithm. They announced the successful migration of the Sepolia test network to PoS. The developers of Shiba Inu reported on the current state of development of new ecosystem components and announced the launch of its stablecoin.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 93.2% | 9 | $27 087.02 | -0.27% | -0.06% | $525 275 860 361 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 90.4% | 5 | $1 894.54 | -0.31% | 2.56% | $227 788 525 796 |  |
|
| 3 |  USDT |
Tether predictions | 95.6% | 1 | $1.000266 | 0% | -0.02% | $83 174 583 635 |  |
|
| 4 |  BNB |
Binance Coin predictions | 92.8% | 3 | $306.22 | -0.05% | -0.74% | $47 726 034 527 |  |
|
| 5 |  USDC |
USD Coin predictions | 95.6% | 1 | $0.999950 | -0.01% | -0.02% | $28 902 979 509 |  |
|
| 6 |  XRP |
XRP predictions | 77.6% | 45 | $0.523003 | 0.07% | 10.63% | $27 189 376 584 |  |
|
| 7 |  ADA |
Cardano predictions | 94.8% | 5 | $0.379137 | 0.78% | 2.17% | $13 229 654 737 |  |
|
| 8 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 91.6% | 10 | $0.072900 | 0.75% | 0.19% | $10 178 444 950 |  |
|
| 10 |  SOL |
Solana predictions | 82% | 26 | $21.28 | 0.54% | 4.16% | $8 445 521 119 |  |
|
| 11 |  MATIC |
Polygon predictions | 84.4% | 24 | $0.902754 | 0.60% | -2.77% | $8 377 081 385 |  |
|
| 12 |  WTRX |
Wrapped TRON predictions | 79.6% | 41 | $0.081565 | -3.18% | 5.43% | $8 293 183 944 |  |
|
| 13 |  TRX |
TRON predictions | 75.6% | 46 | $0.081676 | -3.05% | 5.19% | $7 366 637 548 |  |
|
| 14 |  LTC |
Litecoin predictions | 79.6% | 43 | $95.13 | 0.59% | 6.20% | $6 951 023 390 |  |
|
| 15 |  DOT |
Polkadot predictions | 90.4% | 7 | $5.33 | 1.27% | -0.64% | $6 346 171 816 |  |
