Bitcoin stabilised but has trouble to reverse strongly
Bitcoin added a symbolic 0.1% on Tuesday, ending the day around $31K and adding another $500 this morning. Ethereum has been adding 0.2% in the past 24 hours. Other leading altcoins from the top 10 showed mixed dynamics, ranging from a 10.8% decline (Avalanche) to a 0.2% gain (Binance Coin). The total capitalisation of the crypto market, according to CoinMarketCap, declined 1.6% overnight to $1.42 trillion. The Bitcoin Dominance Index rose 0.4% to 42.2%. The Cryptocurrency Fear and Greed Index added 2 points to 12 by Wednesday, starting recovery from an area where it rarely lingered.
Although Bitcoin managed to close Tuesday’s trading with a proper strengthening, a powerful offensive did not happen, as bull buying was choked again by stock market pessimism. It remains a situation where the stock or debt markets will determine whether we see another rebound from the critical $30K level or a failure of support and a complete surrender of the buyers. Cardano creator Charles Hoskinson has announced the beginning of new crypto winter. However, he does not see any factors that could trigger the market to rebound soon.
Cryptocurrency investment company Galaxy Digital reported a net loss of $111.7 million for the first quarter of this year. Galaxy Digital founder Mike Novogratz allowed bitcoin to decline further in the coming quarters due to the negativity on Wall Street. Meanwhile, last week saw an influx of institutional investors into crypto funds after four weeks of capital withdrawals.
MicroStrategy chief executive Michael Saylor said it has no plans to sell its cryptocurrency reserves. He said bitcoin would have to fall below $3562 for the firm to have insufficient assets to secure loans. El Salvador has bought another 500 bitcoins at an average of $30,744 amid a fall in the crypto market. Last autumn, the country’s recognition of BTC as legal tender was a landmark event for the global economy.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 81.6% | 29 | $62 871.67 | -0.59% | 5.26% | $1 242 136 443 342 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.8% | 43 | $2 543.02 | 3.23% | 5.22% | $306 041 976 839 |  |
|
| 3 |  USDT |
Tether predictions | 94% | 1 | $1.000085 | -0.02% | -0.03% | $119 083 020 595 |  |
|
| 4 |  BNB |
Binance Coin predictions | 80.4% | 37 | $567.08 | 0.22% | 2.38% | $82 756 033 644 |  |
|
| 5 |  SOL |
Solana predictions | 76.4% | 39 | $146.80 | 2.54% | 6.38% | $68 774 443 942 |  |
|
| 6 |  USDC |
USD Coin predictions | 95.6% | 1 | $1.000025 | 0.01% | 0.01% | $35 731 338 676 |  |
|
| 7 |  XRP |
XRP predictions | 82% | 36 | $0.583207 | -1.08% | 2.78% | $32 912 981 387 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 83.2% | 30 | $0.104630 | -1.16% | -1.66% | $15 279 969 329 |  |
|
| 9 |  TON |
Toncoin predictions | 76.8% | 45 | $5.60 | -2.23% | -3.63% | $14 182 969 308 |  |
|
| 10 |  TRX |
TRON predictions | 88.8% | 8 | $0.151977 | 0.59% | 2.03% | $13 171 779 937 |  |
|
| 11 |  ADA |
Cardano predictions | 77.2% | 41 | $0.351820 | -0.28% | -2.10% | $12 651 667 387 |  |
|
| 12 |  AVAX |
Avalanche predictions | 73.6% | 45 | $27.14 | 2.75% | 9.98% | $11 018 624 656 |  |
|
| 13 |  STETH |
Lido stETH predictions | 94% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 94.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 15 |  WBTC |
Wrapped Bitcoin predictions | 91.6% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
