The crypto market has pushed up from support
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 75.2% | 54 | $67 879.29 | 2.42% | 2.02% | $1 339 364 524 818 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74% | 47 | $3 260.40 | 2.36% | -6.61% | $391 991 973 567 |  |
|
| 3 |  USDT |
Tether predictions | 91.6% | 1 | $1.000085 | 0.02% | -0.06% | $114 338 977 718 |  |
|
| 4 |  SOL |
Solana predictions | 68.4% | 71 | $182.85 | 6.00% | 7.94% | $84 952 035 310 |  |
|
| 5 |  BNB |
Binance Coin predictions | 75.6% | 41 | $579.57 | 1.22% | -1.65% | $84 574 938 453 |  |
|
| 6 |  USDC |
USD Coin predictions | 94% | 1 | $1.000019 | 0.01% | -0.01% | $34 125 999 215 |  |
|
| 7 |  XRP |
XRP predictions | 58% | 86 | $0.598773 | -1.11% | 3.01% | $33 507 831 491 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 71.2% | 55 | $0.134695 | 7.98% | 7.45% | $19 568 487 165 |  |
|
| 9 |  TON |
Toncoin predictions | 82% | 30 | $6.72 | 1.60% | -7.98% | $16 907 584 322 |  |
|
| 10 |  ADA |
Cardano predictions | 74% | 48 | $0.418261 | 6.58% | -4.48% | $15 016 585 321 |  |
|
| 11 |  TRX |
TRON predictions | 86.4% | 18 | $0.137499 | 1.34% | 2.07% | $11 970 793 016 |  |
|
| 12 |  AVAX |
Avalanche predictions | 75.6% | 40 | $28.58 | 4.89% | 1.67% | $11 285 074 208 |  |
|
| 13 |  STETH |
Lido stETH predictions | 92.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 92.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 82.4% | 29 | $0.000017 | 3.77% | -3.14% | $10 090 877 222 |  |
