Home Business Crypto Rally: Whales Strike, But Experts Raise Bitcoin Concerns

Crypto Rally: Whales Strike, But Experts Raise Bitcoin Concerns

Crypto Rally: Whales Strike, But Experts Raise Bitcoin Concerns

The crypto market started aid rally, which is no surprise after a week of red prices. However, prices have not yet recovered from the recent crash.

Nevertheless, the pressure is easing somewhat and market sentiment is becoming somewhat more positive again. Meanwhile it is whales it’s slowly picking up again, but trading volume remains low and traders are very cautious.

The total cryptocurrency market cap is up 1.5% to $1.06 trillion. Trading volume fell 3.1% to $33.4 billion. Bitcoin dominance stands at 48.3%. The popular sentiment indicator, the Fear & Greed Index, is at 41 (fear).

Bitcoin Price Recovers Slightly, Whales Strike

Bitcoin (BTC) initially fell back to $25,300 before surging to a high of around $26,800. After that, Bitcoin fell slightly again, but appears to have found overnight support around $26,400 for now.

At the time of writing, BTC is trading at $26,478 on Bybit and $24,391 on Bitvavo. Bitcoin is therefore up 1.6% today.

The surge was accompanied by an accumulation of BTC among investors, the so-called whales And sharks. According to Santiment, they have bought a whopping $308.6 million worth of BTC since the crash.

However, there is still a lot of fear and uncertainty in the market, reports analyst Decentrader. That’s how the averages stay subsidy ratethe interest for futures, negative. This primarily means investors short and respond to an expected decline.

Meanwhile, analyst Keith Alan warns of Fed Chair Jerome Powell’s speech tomorrow. In the same speech last year, he caused a drop of no less than 29%. According to the analyst, there are many similarities this year with the situation in the previous year.

Ethereum price follows as whales also buy ETH

Ethereum (ETH) initially fell to $1,580 before surging to peak at just over $1,700. ETH price has been trying to gain a foothold around $1,675 for the past few hours and as such is up 1.7% today. Notably, since the crash last week, several whales have also amassed a lot of ETH, Lookonchain reports.

Cardano and Solana are the strongest climbers in the green crypto top 10

Polygon (MATIC) is currently suffering the most in the top 10 and recovering the least. At $0.557, MATIC is up just 0.1%. Dogecoin (DOGE) is already up 1.3% to $0.636. Tron (TRX) is up 1.4% to $0.776, fully recovering from the crash.

Binance Coin (BNB) is up 1.6% to $219.4. Polkadot (DOT) is at $4.5 and is up 1.7%. Ripple (XRP) is currently struggling around $0.53 but is still 1.9% in the green.

Cardano (ADA) has staged a slightly stronger recovery over the past 24 hours, up 3.3% to $0.268. Solana (SOL) goes one step further, up 4.5% to $21.7.

DYDX strongest climber in the crypto top 100

Not the entire top 100 turns red. Leo (LEO), Curve (CRV) and Optimism (OP) are down about 1% today. For Radix (XRD) and Rollbit Coin (RLB), that’s about 2%. However, Monero (XMR) loses almost 5% of its value, falling to $139.

On the other hand, we still have some notable climbers in the top 100. For example, Hedera (HBAR) and Immutablex (IMX) are up more than 7% today. The render (RNDR) even increases by 8.5%. Dydx (DYDX) is the big winner, re-entering the top 100 after rising more than 10%. DYDX is trading at $2.18 and has a market cap of $379 million.

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