Crypto's full swing recovery
Bitcoin jumped 8.5% to $23,300 on Tuesday, showing a 20.8% gain over the last seven days. Ethereum is trading around $1570 on Wednesday morning, adding 3.4% in 24 hours and an impressive 49% for the week.
The top altcoins are also rising nicely, adding between 3.9% (Polygon) and 11% (Cardano) for the day. Total crypto market capitalisation, according to CoinMarketCap, rose 4.7% overnight to $1067bn. Bitcoin on Tuesday posted its highest gains in a month on the back of a rebound in US stock indices and a weaker dollar.
BTC has tested the highs since June 13 near $23,700, and on Wednesday, it is trying to consolidate above its 50-day moving average. The dynamics near that line often acted as a reliable medium-term trend indicator.
Only a strong buy above this level can serve as a firm reversal indicator in the next few days. If the upside momentum stalls, as it did in February and March this year, we should be prepared for a sharp increase in selling. BTCUSD also exceeded the 200-week average during the last growth wave but fixing above this level at the end of the week should be considered a reliable signal.
The cryptocurrency Fear & Greed Index climbed to 31 by Wednesday after more than two months in "extreme fear" territory. After waves of capitulation in May-June 2022, bitcoin quotes have been below the realised price for a month now. Other signals of a potential bottom forming have also emerged, Glassnode notes. CryptoQuant, the research firm, has warned investors that further sales of BTC miners in a falling market could return pressure on prices.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 76% | 40 | $24 129.38 | 4.39% | 4.16% | $461 254 701 638 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 64.4% | 74 | $1 804.53 | 5.98% | 8.69% | $219 936 602 750 |  |
|
| 3 |  USDT |
Tether predictions | 92.4% | 1 | $1.000145 | 0% | -0.01% | $66 486 165 109 |  |
|
| 4 |  USDC |
USD Coin predictions | 92.4% | 1 | $0.999924 | 0% | 0.01% | $54 212 170 056 |  |
|
| 5 |  BNB |
Binance Coin predictions | 68% | 61 | $331.99 | 4.39% | 16.48% | $53 562 837 067 |  |
|
| 6 |  XRP |
XRP predictions | 80.8% | 40 | $0.382330 | 2.12% | 1.69% | $18 483 019 171 |  |
|
| 7 |  ADA |
Cardano predictions | 73.2% | 52 | $0.543298 | 4.60% | 6.44% | $18 337 708 125 |  |
|
| 8 |  BUSD |
Binance USD predictions | 93.2% | 1 | $1.000576 | 0.04% | 0.21% | $17 888 223 823 |  |
|
| 9 |  SOL |
Solana predictions | 74% | 44 | $43.21 | 6.94% | 2.89% | $15 048 127 510 |  |
|
| 10 |  DOT |
Polkadot predictions | 69.2% | 58 | $9.31 | 8.45% | 10.51% | $10 288 809 309 |  |
|
| 11 |  STETH |
Lido stETH predictions | 94.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 12 |  HEX |
HEX predictions | 70% | 62 | $0.054472 | 8.20% | 10.77% | $9 446 016 831 |  |
|
| 13 |  DOGE |
Dogecoin predictions | 82.8% | 27 | $0.071055 | 2.78% | 4.16% | $9 426 956 868 |  |
|
| 14 |  AVAX |
Avalanche predictions | 68% | 69 | $30.28 | 10.86% | 30.10% | $8 614 953 421 |  |
|
| 15 |  MATIC |
Polygon predictions | 64.8% | 77 | $0.946930 | 3.64% | 4.99% | $7 608 398 583 |  |
