Cryptocurrencies rose on Tuesday on the back of strengthening stock indices and falling protective assets like gold, the yen, and treasuries. Technical factors may have influenced the first cryptocurrency's strengthening, with BTC pushing back from its 50-day moving average, which has been acting as a support level for the past week.
Russia has proposed allowing cryptocurrency mining in specific regions and imposing taxes on the conversion of crypto assets into fiat and is making progress in testing the digital rouble with the first interbank transfers.
Bitcoin rose on Tuesday to its highest level in the past week (+4.4%), ending the day around $44,100, where it is trading on Wednesday morning. Ethereum jumped 7.3% on Tuesday, settling at $3100, while other leading altcoins from the top 10 also added: from 1.7% (XRP) to 12% (Avalanche). Overnight, crypto market capitalisation rose 2% to $1.98 trillion, according to CoinMarketCap estimates. Since early January, the market has not been consistently above the 2 trillion mark, and consolidation above could be an essential signal for bulls to move from observation to active buying. Since the end of January, there has been a notable uptrend support line that can be drawn through the local lows, which sets up optimism in the short term.
The two largest cryptocurrencies, BTC and ETH, are attempting to consolidate above their 50-day averages, which previously signalled the end of a bearish phase. This was primarily made possible by optimism on Wall Street, where investors continue to buy out drawdowns.
Altcoins showed outperformance, which led to a 0.3 percentage point decline in the Bitcoin Dominance Index to 40.4%. The Fear & Greed Index climbed from 46 to 51, moving into the Neutral from the Fear territory.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 83.2% | 31 | $76 064.81 | 0.08% | 8.61% | $1 504 523 633 485 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 82% | 24 | $2 914.44 | 2.30% | 15.68% | $350 956 842 345 | ||
3 | USDT | Tether predictions | 92% | 1 | $1.000636 | -0.02% | 0.07% | $122 031 247 565 | ||
4 | SOL | Solana predictions | 70% | 54 | $197.59 | 1.92% | 18.72% | $93 177 120 083 | ||
5 | BNB | Binance Coin predictions | 93.6% | 5 | $592.90 | -1.02% | 3.00% | $85 436 312 074 | ||
6 | USDC | USD Coin predictions | 94% | 1 | $0.999657 | -0.03% | -0.05% | $36 900 654 879 | ||
7 | XRP | XRP predictions | 90.4% | 12 | $0.548967 | -0.59% | 5.45% | $31 218 999 526 | ||
8 | DOGE | Dogecoin predictions | 65.2% | 65 | $0.193351 | -0.32% | 19.75% | $28 366 116 254 | ||
9 | ADA | Cardano predictions | 86% | 14 | $0.442978 | 13.17% | 24.62% | $15 505 550 481 | ||
10 | TRX | TRON predictions | 94% | 2 | $0.161050 | 0.45% | -3.55% | $13 918 433 792 | ||
11 | TON | Toncoin predictions | 88.8% | 20 | $4.91 | -0.47% | -0.46% | $12 488 805 556 | ||
12 | AVAX | Avalanche predictions | 74.8% | 44 | $27.86 | 0.79% | 11.19% | $11 344 625 411 | ||
13 | SHIB | SHIBA INU predictions | 55.6% | 94 | $0.000019 | -1.04% | 5.68% | $11 001 830 900 | ||
14 | STETH | Lido stETH predictions | 92.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
15 | WTRX | Wrapped TRON predictions | 92.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.