Bitcoin
BTC$27 686.50

-1.54%

Ethereum
ETH$1 753.83

-2.24%

Tether
USDT$1.002131

0.08%

Binance Coin
BNB$324.49

-3.72%

USD Coin
USDC$0.999458

0.08%

XRP
XRP$0.451417

-1.31%

Bitcoin's 5% jump is a bullish confidence signal


22 Mar 2022

#Bitcoin

BTC changed a little on Monday, ending the day around $41.3K. However, in early trading on Tuesday, we saw a jump of more than 5% to $43.3K; then the first cryptocurrency sunk to $42K. Over the past 24 hours, Ethereum has gained 4%, and other leading altcoins from the top ten are not far behind: Solana and Avalanche are up 2%, Cardano is up 6%. Terra is out of the general outline, decreasing by 0.5%.

According to CoinMarketCap, the total capitalization of the crypto market increased by 3% over the day, to $1.92 trillion. The Bitcoin Dominance Index added 0.1 percentage points to 42% due to the BTC surge.

Cryptocurrency fear and greed index fell by 4 points in a day, to 26, as its estimates do not include the latest bitcoin spurt. This is not the first such jump in BTC since the beginning of March, in contrast to the neutral or even negative sentiment in the stock markets. All this indicates the readiness of the bulls for decisive action. However, until now, such impulses cannot be on a solid basis, because the fundamental demand for risks is under obvious pressure.

Bitcoin Daily Chart

The most that the bulls were capable of in this case was the formation of support at the lows of July last year (ie below $30K). In January, the level moved to $35K and further to $37K at the end of February.

According to the FxPro analysts, institutional investors withdrew about $47 million from crypto funds over the past week. The outflow of funds has been observed for the second week in a row. Meanwhile, the largest Australian financial conglomerate Commonwealth Bank of Australia stated a sharp increase in interest in crypto assets among clients. The bank intends to double the department responsible for the crypto industry.

Among the big news, it is worth noting the number of burned ETH tokens in the Ethereum network, which exceeded 2 million. The process of burning altcoins began on August 5 after the release of the London update, which changed the mechanism for calculating commissions for transactions.


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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 72.8% 51 $27 686.50 -1.54% 12.26% $535 055 944 515 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82% 34 $1 753.83 -2.24% 5.65% $214 622 976 485 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.002131 0.08% -0.07% $77 601 370 004 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 77.2% 47 $324.49 -3.72% 0.92% $51 234 239 201 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.4% 2 $0.999458 0.08% -0.04% $34 703 015 524 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 87.2% 17 $0.451417 -1.31% 23.74% $23 000 119 507 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 62.4% 82 $0.123358 18.48% 52.30% $21 391 630 916 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 73.6% 46 $0.369965 -1.76% 12.89% $12 844 876 045 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 94.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 68.8% 57 $0.075005 -1.31% 6.24% $9 950 971 303 DOGE 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 71.2% 51 $1.12 -1.91% -0.94% $9 797 674 979 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 70.4% 54 $21.69 -3.00% 10.97% $8 322 389 970 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $0.999370 -0.05% -0.07% $8 058 942 746 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 74% 51 $6.17 -2.34% 2.98% $7 212 834 820 DOT 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 68.4% 58 $87.92 8.34% 11.30% $6 377 673 020 LTC 7 days price change

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