Bitcoin
BTC$16 558.36

0.45%

Ethereum
ETH$1 217.17

0.70%

Tether
USDT$0.999575

0%

Binance Coin
BNB$311.33

-0.46%

USD Coin
USDC$1.000229

0.01%

Binance USD
BUSD$1.000555

0%

Bitcoin's pump or the start of a rise? America's opening will show us


06 Jun 2022

#Bitcoin

Bitcoin rose 3.1% over the past week, finishing near $30,000. Ethereum added 0.9%, while other leading altcoins in the top 10 showed mixed dynamics, ranging from a 10.7% decline (Solana) to a 23.2% rise (Cardano). The new week is off to a promising start. BTCUSD has added 4.6% in the last 24 hours, more than 4% since the start of the day and is again testing the $31.0K mark. Cryptocurrency investors were not spooked by Friday's market decline, as key stock indices were above the recent local lows and had been adding in recent hours.

The total capitalisation of the crypto market, according to CoinMarketCap, rose 3.8% in 24 hours to $1.28 trillion, with the Bitcoin Dominance Index adding 0.2% over the same period to Friday's 46.5%. By Monday, the cryptocurrency fear and greed index rose from 10 to 13 points. For about a month now, this indicator has been steadily below 20 - in a state of extreme fear.

While at current levels, BTCUSD remains below the consolidation area at the lows of the middle of last year. It is worth paying attention to the change in the trend seen in the weekly candlesticks. Last week's lows and highs were higher than the week before. The intraday charts show that the price is being pushed up in the absence of investors in the USA.

Bitcoin's pump or the start of a rise? America's opening will show us

However, one must make sure that this demand is global. Retail investors may try to promote the start of the rise by feeding them an abundant supply. BTC was climbing to three-week highs but lost almost all its gains by the end of the week. The first cryptocurrency has been trading in a sideways range around the $30,000 level for more than three weeks. The bearish trend in the market has caused long-term investors to capitulate. This factor signals that the price has reached a multi-year bottom, according to CryptoQuant. Reserve Bank of India Deputy Governor T. Rabi Sankar believes central banks' digital currencies could completely displace private virtual currencies, including bitcoin.

May proved to be a bad month for BTC and ETH miners. Bitcoin miners' earnings fell 21.9% for the month, while miners of the second cryptocurrency fell 24.1%. The market will draw its attention to The annual Consensus 2022 this week. This year's Crypto Industry Excellence Expo will be hosted in Austin, Texas, in June 9-12.

 


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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 58.8% 88 $16 558.36 0.45% -0.06% $318 224 628 305 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 58.4% 86 $1 217.17 0.70% 3.57% $148 949 221 820 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $0.999575 0% 0.06% $65 334 885 845 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 68% 66 $311.33 -0.46% 15.63% $49 804 216 236 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000229 0.01% 0% $44 217 403 592 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $1.000555 0% 0% $22 413 981 060 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 63.2% 80 $0.401313 0.03% 7.06% $20 185 552 000 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 56.4% 92 $0.103231 13.91% 28.21% $13 695 751 843 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 58.8% 82 $0.318757 1.20% 0.22% $10 976 060 582 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 94.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 67.6% 65 $0.860762 1.38% 3.74% $7 518 166 942 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 67.6% 71 $5.41 1.01% -0.54% $6 163 068 674 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 94% 1 $1.000128 0.03% -0.03% $5 726 764 413 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 66.4% 64 $76.50 0.74% 24.01% $5 485 689 704 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 58.4% 82 $0.053816 2.00% 5.89% $5 471 850 361 WTRX 7 days price change

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