Has the crypto market first felt the risk appetite?
Bitcoin rose 1.1% on Monday, and on Tuesday morning, it "shot up" another 5.5%, adding 7.5% over the past 24 hours. This growth momentum has brought the price of the first cryptocurrency back above $20K, in stark contrast to the dynamics of falling markets and a strengthening dollar. Ethereum added almost as much - 7% - rising to $1,385. Against this backdrop, total crypto market capitalisation jumped 5.5% to $970 billion, with top altcoins adding between 2.3% (XRP) and 8.1% (Solana).
According to CoinShares, investments in cryptocurrencies rose for the second consecutive week last week. Net inflows were $8 mln, Bitcoin investments were up $3 mln, and Ethereum investments were up $7 mln. Investments in funds that allow shorts on bitcoin were down $5 mln, the first decline in 8 weeks.
While the Dow Jones index closed at its lowest since November 2020, the Nasdaq100 turned to growth after nearing the lows of June, and cryptocurrencies showed a strong surge. The outperformance of the riskiest assets is more typical of periods of great monetary stimulus. Therefore, the most relevant question is whether we are now see ing the first signs of a market reversal or a trap for naive bulls.
News background
Bitcoin will continue to trade in a range of $17K to $25K, Glassnode expects. Intense US Federal Reserve monetary policy pressure and an unfavourable macroeconomic climate offset any essential positive developments in the crypto industry. Dan Morehead, CEO of crypto hedge fund Pantera Capital, believes billions of people will use blockchain in the coming years, increasing the value of cryptocurrencies.
The SEC has demonstrated that it intends to "damage or destroy the cryptocurrency industry in the US", said LBRY, a decentralised content publishing platform. Technology giant Apple has allowed the sale of collectable tokens (NFTs) in apps on its devices, but the commission will be 30%, sparking outrage in the crypto community.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 77.2% | 36 | $63 540.43 | 2.56% | -1.60% | $1 255 829 021 961 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 76% | 42 | $2 481.91 | 2.64% | -5.96% | $298 769 920 581 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $1.000138 | 0.01% | 0.01% | $119 693 873 487 |  |
|
| 4 |  BNB |
Binance Coin predictions | 74.8% | 42 | $576.12 | 2.39% | -1.04% | $84 074 649 175 |  |
|
| 5 |  SOL |
Solana predictions | 72% | 50 | $148.20 | 3.60% | -5.58% | $69 545 896 988 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.8% | 1 | $1.000225 | 0.02% | 0.03% | $35 506 494 098 |  |
|
| 7 |  XRP |
XRP predictions | 73.6% | 44 | $0.540782 | 1.83% | -16.21% | $30 588 838 160 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 80.4% | 34 | $0.113747 | 4.37% | -7.45% | $16 637 108 781 |  |
|
| 9 |  TON |
Toncoin predictions | 84% | 31 | $5.34 | 2.74% | -8.58% | $13 531 081 838 |  |
|
| 10 |  TRX |
TRON predictions | 92.8% | 1 | $0.154408 | 0.73% | -0.45% | $13 369 002 913 |  |
|
| 11 |  ADA |
Cardano predictions | 80.8% | 40 | $0.362785 | 3.85% | -7.11% | $12 683 346 378 |  |
|
| 12 |  AVAX |
Avalanche predictions | 69.6% | 63 | $27.26 | 3.87% | -5.57% | $11 080 976 739 |  |
|
| 13 |  SHIB |
SHIBA INU predictions | 55.6% | 94 | $0.000018 | 6.57% | -1.67% | $10 868 395 904 |  |
|
| 14 |  STETH |
Lido stETH predictions | 92% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 15 |  WTRX |
Wrapped TRON predictions | 94.4% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
