The crypto market started to cautiously recover this week from the blows that were dealt earlier this month. On Tuesday evening, the market suddenly broke out strongly and many prices shot up sharply.
Gradually this so-called relief rally to cool down again. Nevertheless, several altcoins were able to catch up in recent hours. The total market capitalization is up 4% and tops $1.22 trillion for the first time in weeks.
⚡Market Overview #Bitcoin price trades above $30K
The Top-10 are traded in green zone: $ADA +6.69%, $DOGE +5.99%, $ETH +5.35%
Market Capitalization: $1.29T (+3.8%)
The #BTC dominance: 45.47% (+0.72%)
Fear & Greed Index: 65 (Greed) pic.twitter.com/C3fU9fJFCa— CryptoRank Platform (@CryptoRank_io) June 22, 2023
Bitcoin price back above $30,000
Bitcoin (BTC) took the lead this week, recovering from the downtrend that started after the mid-April peak. Bitcoin hit $30,800 yesterday, its highest price since that peak more than two months ago.
Since then, bitcoin has cooled down a bit, but the price is still above $30,000 and currently stands at around $30,085. With that, bitcoin is up 4.3% today and even up 21% compared to a week ago.
It took #BTC in two months to retrace -20%
And only 6 days to erase the entire correction$BTC #Crypto #Bitcoin pic.twitter.com/cx3UAZZPmT
— Rekt Capital (@rektcapital) June 21, 2023
Ethereum price back above USD 1,900
Ethereum (ETH) initially lagged slightly behind bitcoin, but continued to rise a little longer yesterday evening, so that the price is catching up a little. ETH peaked at $1,934 early this morning, but is currently dropping to $1,907. This means that ETH is still 5.3% up today.
20M ETH ($38B) staked
2.9M ETH ($5.5B) queuing to stake
0 ETH queuing to unstake pic.twitter.com/4BFX9W0xGD
— ultra sound money 🦇🔊 (@ultrasoundmoney) June 22, 2023
Polygon and cardano hardest climbers crypto top 10
Binance coin (BNB) is not recovering that strongly yet, but is up 1.9% at $525. Ripple (XRP) is also not picking up as strongly yet, but it is back above $0.5 from a 2.3% increase. Solana (SOL) is up 2.8% to $17.3. Litecoin (LTC) rallied towards $89, but is now falling below $87 and up 3.1%. Tron (TRX) comes in at around $0.073 and is up 3.3%.
Dogecoin (DOGE) is already rising a bit faster and we are seeing that memecoins to taste again. DOGE is up 6.2% to $0.068. Polygon (MATIC) is up 7.2%, but is still struggling to break through $0.7.
Cardano (ADA) may break $0.3 as of this writing, up as much as 8.4% today. However, those last two coins took a heavy hit earlier this month and they still haven’t recovered from that with this increase.
After the #SEC named #ALTCOINS like #ADA and others as Securities, 😦#ADA broke support at .34 cents to go on and retest its bottom that it formed back in Dec 2022, around the .24 cent level!
Like/Retweet if you think this double bottom or W pattern is a bullish pattern. 🤔 pic.twitter.com/lVOn3ikYmh
— Steve Courtney ~ Crypto Crew University (@CryptoCrewU) June 21, 2023
Memecoins Shiba inu and Pepe are rising sharply
Just outside the top 10 today, shiba inu (SHIB) are up no less than 12%. SHIB is currently rising to $0.0000083. As mentioned, we see several memecoins picking up sharply today.
Shibainu
WEEKLY time frame#Shibarium #SHIB #Metaverse #Bitcoin @Shibtoken @ShytoshiKusama @Shibiarium tech$bone #bone$shib $shiba pic.twitter.com/rEmngfjjTb— Venom 2023 (@2023Venom7645) June 22, 2023
Even stronger is currently rising radix (XRD), which shoots up 14% to $0.071. Conflux (CFX) is up as much as 18% to USD 0.255. Stacks (STX) shot up again yesterday and is also up 18% today at $0.87 and up a whopping 75% this week.
$STX straight up chadding! https://t.co/JaF8f9FC6k pic.twitter.com/ehD711aObx
— Limbo (@CryptoLimbo_) June 21, 2023
Finally, we have pepe (PEPE), also a memecoin and the fastest climber today in the top 100. Pepe briefly rose above $0.0000015 this morning and is up no less than 35% today.
100% MOVE OFF THE LOWS FOR $PEPE 🐸
Now the question is whether or not this is a relief wave or a full blown reversal 👍 pic.twitter.com/lBBQ0enwM3
— Crypto Tony (@CryptoTony__) June 22, 2023
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