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 | 64% | 76 | $23 414.18 | -0.57% | 1.32% | $451 444 140 453 | ||
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2 | ![]() |
Ethereum predictions | 65.6% | 64 | $1 660.60 | 0.87% | 3.91% | $203 213 799 353 | ||
3 | ![]() |
Tether predictions | 96% | 1 | $1.000139 | 0% | 0% | $68 038 057 989 | ||
4 | ![]() |
Binance Coin predictions | 81.2% | 39 | $332.21 | 2.49% | 7.92% | $52 455 756 881 | ||
5 | ![]() |
USD Coin predictions | 95.2% | 1 | $0.999870 | -0.01% | -0.02% | $41 954 575 977 | ||
6 | ![]() |
XRP predictions | 76.4% | 51 | $0.410035 | 0.05% | -0.66% | $20 829 395 994 | ||
7 | ![]() |
Binance USD predictions | 92.4% | 1 | $1.000093 | 0.02% | 0% | $16 273 786 064 | ||
8 | ![]() |
Cardano predictions | 69.2% | 69 | $0.401700 | 0.32% | 2.18% | $13 898 855 921 | ||
9 | ![]() |
Dogecoin predictions | 74% | 48 | $0.093742 | 2.62% | 6.67% | $12 436 791 556 | ||
10 | ![]() |
Polygon predictions | 68% | 64 | $1.23 | 4.02% | 7.27% | $10 780 259 861 | ||
11 | ![]() |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
12 | ![]() |
Solana predictions | 61.6% | 88 | $24.55 | 0.87% | -0.41% | $9 145 525 743 | ||
13 | ![]() |
Polkadot predictions | 64% | 74 | $6.94 | 5.67% | 5.23% | $8 000 392 092 | ||
14 | ![]() |
SHIBA INU predictions | 64% | 79 | $0.000014 | 14.51% | 18.56% | $7 679 941 030 | ||
15 | ![]() |
Litecoin predictions | 76.8% | 38 | $100.23 | 0.95% | 13.08% | $7 236 835 830 |
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