Bitcoin
BTC$69 980.05

-0.89%

Ethereum
ETH$3 542.04

-1.00%

Tether
USDT$1.000055

0.05%

Binance Coin
BNB$608.95

3.26%

Solana
SOL$186.01

-1.00%

XRP
XRP$0.614771

-1.43%

Bitcoin benefiting from gains in equities


08 Jul 2022

#Bitcoin

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.

Bitcoin benefiting from gains in equities

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.

 


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 75.2% 42 $69 980.05 -0.89% 6.26% $1 376 321 554 485 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76.8% 50 $3 542.04 -1.00% 1.71% $425 295 504 407 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000055 0.05% -0.02% $104 510 072 326 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64% 81 $608.95 3.26% 5.16% $91 059 509 830 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 60.8% 88 $186.01 -1.00% 4.93% $82 665 453 798 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 83.6% 27 $0.614771 -1.43% -2.36% $33 741 219 924 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 90.4% 2 $0.999937 -0.01% -0.03% $32 488 081 465 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 68% 66 $0.213182 5.48% 32.70% $30 626 599 420 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 70.4% 66 $0.641810 -1.67% 0.99% $22 838 195 969 ADA 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 58.4% 87 $53.74 -2.07% -3.75% $20 280 952 532 AVAX 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 56.8% 94 $0.000031 -1.88% 11.16% $18 162 954 310 SHIB 7 days price change
12 Toncoin (TON) TON Toncoin predictions 60.4% 87 $4.88 -1.70% 10.03% $16 923 658 045 TON 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 73.2% 49 $9.47 -1.58% 2.49% $13 511 836 957 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 68.8% 58 $581.80 2.03% 42.09% $11 451 168 386 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 75.2% 42 $18.91 -2.89% 3.64% $11 099 137 470 LINK 7 days price change

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