Bitcoin is up 9% over the past week, ending at around $41,700. Ethereum is up 15%. Altcoins also woke up from hibernation and grew stronger than the market: from 5.8% (Binance Coin) to 17.3% (Solana). Over the same period, the total capitalization of the crypto market, according to CoinGecko, grew by 11.2%, up to $1.99 trillion.
The primary growth of the crypto market last week came on Friday when bitcoin at the end of the day soared by 10% in a few hours. The increase was not prevented even by strong data on the US labor market, which came out a couple of hours before the jump.
It is worth noting that the Nonfarm Payrolls can force the Fed to move faster to tighten monetary policy. Against this background, the yield of 10-year Treasuries jumped above 1.93%, hitting new two-year highs, and this could soon lead to sales in the stock market. If cryptocurrencies manage to resist and continue to grow, this will be a serious trend reversal order. Just like on Friday, when investors decided to buy BTC in order to protect investments from inflation.
Since then, Bitcoin has already added 17%, moving into a phase of an active uptrend. Technically, the first cryptocurrency broke the resistance of the descending corridor. Accelerating growth and steady buying throughout the weekend indicate a strong bullish momentum. Cautious investors are now looking at the test of the 50-day moving average. Previously, repeatedly fixing above this line preceded a multi-month uptrend.
Potentially, this will also be lost now. Therefore, some players consider this impulse as an important first signal of a recovery in demand for risky assets, despite fears of a rate increase.
Meanwhile, billionaire Ray Dalio has warned that a number of governments could outlaw cryptocurrencies. The government of the Russian Federation is considering introducing a tax on miners of at least 15%. According to the authorities, the tax on all participants in the crypto market can bring up to 1 trillion rubles to the treasury. In the meantime, the Fed has presented the Digital Dollar White Paper, but the issue of its future launch has not yet been resolved.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||72.8%||51||$27 686.50||-1.54%||12.26%||$535 055 944 515|
|2||ETH||Ethereum predictions||82%||34||$1 753.83||-2.24%||5.65%||$214 622 976 485|
|3||USDT||Tether predictions||92.4%||1||$1.002131||0.08%||-0.07%||$77 601 370 004|
|4||BNB||Binance Coin predictions||77.2%||47||$324.49||-3.72%||0.92%||$51 234 239 201|
|5||USDC||USD Coin predictions||90.4%||2||$0.999458||0.08%||-0.04%||$34 703 015 524|
|6||XRP||XRP predictions||87.2%||17||$0.451417||-1.31%||23.74%||$23 000 119 507|
|7||HEX||HEX predictions||62.4%||82||$0.123358||18.48%||52.30%||$21 391 630 916|
|8||ADA||Cardano predictions||73.6%||46||$0.369965||-1.76%||12.89%||$12 844 876 045|
|9||STETH||Lido stETH predictions||94.4%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|10||DOGE||Dogecoin predictions||68.8%||57||$0.075005||-1.31%||6.24%||$9 950 971 303|
|11||MATIC||Polygon predictions||71.2%||51||$1.12||-1.91%||-0.94%||$9 797 674 979|
|12||SOL||Solana predictions||70.4%||54||$21.69||-3.00%||10.97%||$8 322 389 970|
|13||BUSD||Binance USD predictions||94.4%||1||$0.999370||-0.05%||-0.07%||$8 058 942 746|
|14||DOT||Polkadot predictions||74%||51||$6.17||-2.34%||2.98%||$7 212 834 820|
|15||LTC||Litecoin predictions||68.4%||58||$87.92||8.34%||11.30%||$6 377 673 020|
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