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.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | ![]() |
Bitcoin predictions | 88% | 10 | $26 897.71 | -0.57% | 2.07% | $521 544 143 377 | ||
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2 | ![]() |
Ethereum predictions | 94.4% | 5 | $1 860.48 | -0.05% | 3.44% | $223 714 819 656 | ||
3 | ![]() |
Tether predictions | 92% | 1 | $1.000026 | -0.01% | 0.03% | $83 224 498 225 | ||
4 | ![]() |
Binance Coin predictions | 94.8% | 1 | $304.67 | -0.61% | -0.08% | $47 485 262 045 | ||
5 | ![]() |
USD Coin predictions | 92% | 1 | $0.999756 | -0.01% | -0.01% | $28 847 127 885 | ||
6 | ![]() |
XRP predictions | 77.2% | 37 | $0.504250 | -1.53% | 11.90% | $26 212 632 900 | ||
7 | ![]() |
Cardano predictions | 92% | 10 | $0.364572 | -2.55% | 1.76% | $12 717 605 112 | ||
8 | ![]() |
Lido stETH predictions | 94% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
9 | ![]() |
Dogecoin predictions | 89.2% | 17 | $0.071692 | 0.74% | 1.81% | $10 007 347 652 | ||
10 | ![]() |
Polygon predictions | 80% | 35 | $0.893847 | 0.39% | 0.86% | $8 294 424 384 | ||
11 | ![]() |
Solana predictions | 80% | 29 | $20.71 | 0.55% | 7.01% | $8 214 229 812 | ||
12 | ![]() |
Wrapped TRON predictions | 80.8% | 37 | $0.074826 | -0.77% | -3.49% | $7 608 018 393 | ||
13 | ![]() |
Litecoin predictions | 77.6% | 37 | $94.21 | 5.89% | 10.62% | $6 881 721 612 | ||
14 | ![]() |
TRON predictions | 78.4% | 33 | $0.074853 | -0.76% | -3.71% | $6 753 192 726 | ||
15 | ![]() |
Polkadot predictions | 87.2% | 11 | $5.23 | -1.35% | -0.75% | $6 224 984 176 |
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