Bitcoin
BTC$23 245.06

-0.67%

Ethereum
ETH$1 649.98

-0.90%

Tether
USDT$1.000242

0.01%

Binance Coin
BNB$330.03

0.12%

USD Coin
USDC$0.999630

-0.04%

XRP
XRP$0.407147

-1.05%

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 62% 76 $23 245.06 -0.67% -1.07% $448 215 363 984 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 70.4% 57 $1 649.98 -0.90% 2.45% $201 913 823 772 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000242 0.01% 0% $68 081 088 023 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78.8% 38 $330.03 0.12% 4.56% $52 111 151 986 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $0.999630 -0.04% -0.04% $41 975 476 278 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 75.2% 42 $0.407147 -1.05% -1.24% $20 682 712 207 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $1.000002 -0.02% -0.02% $16 258 300 058 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 70% 64 $0.395468 -1.61% 1.39% $13 686 825 295 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 71.6% 51 $0.093562 -0.49% 4.31% $12 412 982 136 DOGE 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 68.4% 67 $1.22 -0.49% 4.26% $10 662 953 667 MATIC 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 94% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 Solana (SOL) SOL Solana predictions 59.2% 86 $23.86 -3.04% -2.86% $8 889 364 349 SOL 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64.8% 73 $0.000015 4.49% 21.57% $8 029 262 331 SHIB 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 67.6% 66 $6.74 -2.85% 2.41% $7 777 843 515 DOT 7 days price change
15 HEX (HEX) HEX HEX predictions 68% 60 $0.041057 -9.25% 52.42% $7 119 677 926 HEX 7 days price change

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