Investing.com – Cryptocurrency trading was dominated by a decline yesterday and the day before yesterday, as strong employment data relieved markets of recession fears and prompted a re-pricing of expectations for the Fed’s next rate move.
Cryptocurrencies seem to have decided to temporarily postpone the fear retreat, entering a mass wave of strong gains led by the crypto market that rushed towards total gains.
70 billion
After the market capitalization of cryptocurrencies plunged close to $1.05 trillion during Sunday trading, within hours, the crypto market managed to register strong gains of over $70 billion.
Cryptocurrency market capitalization rose to $1.12 trillion today, Monday, with a market gain of about $70 billion, coinciding with Bitcoin’s rally near critical resistance levels at $24,000.
Fear prevails
The Crypto Fear & Creed Index, which measures the sentiment of dealers in the market, is near the 30-point levels, revealing the presence of fear among traders.
According to the Crypto Fear & Greed Index during yesterday’s trade, the cryptocurrency market rose by around 12 points, while the Fear and Greed index fell again, up to 30 points due to Bitcoin’s decline.
The Crypto Fear and Greed index is another step away from extreme panic levels after rising 3 new points to 34 points during last Wednesday’s trade.
The Fear and Greed Index fell to 30 points during Thursday’s trading, compared to 42 points since last April, as Bitcoin managed to approach $25,000.
Bitcoin levels
After trading below $23,000 earlier in Sunday’s trading and today’s early trading, Bitcoin rallied in the 4% range during today’s Monday trading, reaching levels near $24,000.
On the other hand, famous crypto expert Michael van de Poppe believes that Bitcoin has reached very attractive price levels.
As with the formation of the BTC and $USD pair, I still think it’s an opportunity of a lifetime, Michael Van de Pape said, with 85% down from the previous ATH, it’s an asset for the next bull cycle.
Popular trading account CROW High Levels reveals plans to take a profit of only $30,000 until Bitcoin continues to make higher highs and lower lows.
Altcoins
It rose 3% to $1.73 thousand, while Binance Coin rose 6% to $328, up 2.5% in a week and 41% in a month, up 15% in a week.
It rose 2% to $0.377 during today’s trade, while it fell slightly on the week to $0.54, up 5% for a 4% gain on the week.
To erase its weekly losses, it is now up 7% to $43, while it rose 8% to $9.1, a 4% gain in less than a week.
It rose 2% on the week to close at $0.07, up 3%, and Avalanche Shark rose 9% to close at $29, while gaining 20% on the week.
Polygon Matic was up 1% on the week to $0.93, up 3%, and up 8% on the week, up 4% to $0.000123.
The article does not express a recommendation or recommendation, but monitoring market fluctuations, trading in digital currencies involves high risks, knowing that it is not entirely subject to financial authorities, including the risk of losing some or all of the investment amount. and markets.
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