Bitcoin
BTC$16 240.61

-1.80%

Ethereum
ETH$1 174.73

-3.19%

Tether
USDT$0.999656

0.01%

Binance Coin
BNB$296.09

-5.68%

USD Coin
USDC$1.000129

0%

Binance USD
BUSD$1.000369

0.01%

Bitcoin rises on capital flight from bonds


23 Mar 2022

#Bitcoin

BTC rose 3.5% on Tuesday. At the peak of the day, the rate exceeded $43.2K, but by Wednesday morning, it rolled back to $42K, demonstrating a 0.7% correction. Bitcoin tested 19-day highs above $43,000 supported by stock indexes with Chinese equities predominantly pulling it. BTC rose sharply during the Asian session, adding about $2,000 in a few hours, although a corrective mood then prevailed. Bitcoin clearly doesn't have a reason for a solid establishment on the path of growth yet.

Ethereum is losing 1% over 24 hours, while other leading altcoins from the top ten showed mixed dynamics yesterday: from a decline of 2.7% (Avalanche) to a rise of 3.8% (Polkadot).

According to CoinMarketCap, the total capitalization of the crypto market decreased by 0.5%, to $1.91 trillion. The Bitcoin dominance index fell by 0.1% to 41.9%. The Cryptocurrency Fear and Greed Index added another 5 points to 31, although it remains in a "fear" state.

BTC is ready for sharp swing

At the moment, on-chain metrics are consistent with a bear market, Glassnode notes. The rise in implied volatility and higher leverage in the derivatives market point to the possibility of a sharp swing in bitcoin.

However, the sell-off in "defensive" developed-country government bonds continues in financial markets as investors park their money in stocks and commodities that provide the best hedge against prolonged and high inflation. At the same time, there are no clear signs of an economic and financial catastrophe that could hurt stocks or commodities.

The world's largest hedge fund Bridgewater Associates plans to invest in one of the third-party crypto funds, pointing to the risks for fiat currencies, which lose sharply during periods of military and economic wars.


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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 56.8% 88 $16 240.61 -1.80% 1.41% $312 124 680 527 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 86 $1 174.73 -3.19% 4.91% $143 756 826 010 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $0.999656 0.01% 0.08% $65 340 189 558 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 66.4% 66 $296.09 -5.68% 15.44% $47 366 512 227 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000129 0% -0.01% $44 316 728 602 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 91.2% 1 $1.000369 0.01% -0.06% $22 395 787 629 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 61.2% 75 $0.383432 -3.99% 9.04% $19 286 169 244 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 59.2% 89 $0.096021 -0.86% 27.21% $12 739 192 925 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 61.6% 81 $0.306128 -3.70% 0.94% $10 541 165 942 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 91.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 64% 68 $0.822534 -3.82% 3.23% $7 184 273 125 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 66% 72 $5.18 -3.91% -0.19% $5 909 367 523 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 92.4% 1 $1.000041 -0.01% 0.02% $5 660 340 456 DAI 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 61.2% 79 $0.052693 -0.83% 5.23% $5 357 648 670 WTRX 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 65.2% 70 $72.15 -6.36% 19.41% $5 174 160 484 LTC 7 days price change

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