Bitcoin
BTC$20 277.35

-2.12%

Ethereum
ETH$1 145.31

-3.04%

Tether
USDT$0.998764

-0.01%

USD Coin
USDC$1.000530

0.03%

Binance Coin
BNB$224.81

-4.04%

Binance USD
BUSD$1.000787

0.10%

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 59.6% 92 $20 277.35 -2.12% -0.29% $386 889 430 746 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 55.2% 90 $1 145.31 -3.04% 4.85% $138 969 035 870 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.4% 1 $0.998764 -0.01% -0.03% $66 742 331 401 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000530 0.03% 0.05% $55 832 163 481 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 58.4% 89 $224.81 -4.04% 4.38% $36 706 159 546 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 91.6% 1 $1.000787 0.10% 0.21% $17 397 351 213 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 62% 80 $0.335982 -2.23% 4.31% $16 242 394 323 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 65.6% 75 $0.471136 -2.23% 1.44% $15 987 555 258 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 68% 66 $35.51 -5.44% 2.11% $12 172 607 058 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 61.6% 80 $0.066802 -4.36% 6.01% $8 862 682 263 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 63.2% 78 $7.30 -3.42% -2.45% $7 213 387 817 DOT 7 days price change
12 Dai (DAI) DAI Dai predictions 92% 1 $1.000157 0.01% 0.09% $6 718 514 631 DAI 7 days price change
13 TRON (TRX) TRX TRON predictions 55.6% 91 $0.065880 0.37% 2.62% $6 093 590 634 TRX 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 63.2% 74 $0.000010 -7.02% 4.64% $5 528 798 046 SHIB 7 days price change
15 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 76.8% 50 $5.75 -1.33% -2.42% $5 482 403 972 LEO 7 days price change

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