Over the past 24 hours, the crypto market capitalisation rose 1.4% to $1.18 trillion. On Tuesday, Bitcoin recovered to $28.6K, over half of the previous day’s decline. Cryptocurrencies and gold gained momentum on the re-emerging woes of regional banks. This time it was PacWest Bancorp, Western Alliance and Metropolitan. However, we also note that the price stabilised before this news, suggesting that the selling momentum has subsided.
Bitcoin has steadily moved back above its 50-day moving average, proving that the break below was false. The upcoming Fed rate decision promises to increase volatility later in the day. A consolidation above $29.3K (the start of the sell-off) or a break below $28.2K (the 50-day moving average) could signal that the market has decided on a direction for the next few days or weeks.
According to CoinShares, investments in crypto funds fell by $72 million last week, continuing outflows for the second week. Bitcoin investments decreased by $46 million and Ethereum by $19 million (the largest outflow since September 2022). Bitcoin transaction volume reached an all-time high established in December 2017 amid a surge in activity related to the Ordinals project, enabling the NFTs issuance on the BTC blockchain.
The main factor behind the suspension of the Bitcoin rally was the sell orders of “new investors” near $30K, Glassnode noted. Unconfirmed rumours of sales by Mt. Gox customers, the US government, and the revival of “old” BTC only added to the volatility.
MicroStrategy posted a net profit of $461.2 million for the first quarter. The company increased its position in digital gold from 7,500 BTC to 140,000 BTC. “The conviction in our bitcoin strategy remains strong,” the press release said.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 78.4% | 40 | $69 187.87 | -0.65% | 3.36% | $1 368 322 703 656 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 88% | 21 | $2 486.25 | -1.16% | 0.52% | $299 369 696 897 | ||
3 | USDT | Tether predictions | 90.8% | 1 | $0.999719 | 0% | 0.10% | $120 542 832 225 | ||
4 | BNB | Binance Coin predictions | 93.6% | 4 | $567.27 | -1.13% | -2.57% | $81 744 111 407 | ||
5 | SOL | Solana predictions | 69.2% | 65 | $165.45 | -0.87% | -2.98% | $77 895 836 424 | ||
6 | USDC | USD Coin predictions | 90.8% | 1 | $1.000009 | -0.01% | 0.01% | $34 873 123 501 | ||
7 | XRP | XRP predictions | 94.8% | 5 | $0.510368 | -0.91% | -0.36% | $29 023 926 568 | ||
8 | DOGE | Dogecoin predictions | 60.4% | 77 | $0.157946 | -1.96% | 15.80% | $23 159 704 045 | ||
9 | TRX | TRON predictions | 90% | 4 | $0.165396 | -1.20% | -0.10% | $14 299 090 322 | ||
10 | TON | Toncoin predictions | 86.8% | 13 | $4.87 | -0.97% | -0.72% | $12 398 878 230 | ||
11 | ADA | Cardano predictions | 93.2% | 7 | $0.345970 | -4.09% | 4.24% | $12 107 228 142 | ||
12 | STETH | Lido stETH predictions | 91.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
13 | SHIB | SHIBA INU predictions | 80.4% | 28 | $0.000017 | -1.95% | 2.59% | $10 229 752 246 | ||
14 | WTRX | Wrapped TRON predictions | 94% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 | ||
15 | WBTC | Wrapped Bitcoin predictions | 94% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |
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