Volatility finally seems to be returning to the crypto market. Many cryptocurrencies are up as much as 10% today and sentiment seems to be turning quickly. Total market capitalization is back above $1 trillion for the first time in weeks, rising 7.2% to $1.04 trillion. Yet many analysts and investors are still concerned about the poor macroeconomic condition and wonder how long this will last relief rally persists.
📈Market Overview#BTC price trades above $20K
The Top 10 are traded in the green zone: $ADA +12.5%, $ETH +11%, $DOGE +10.1%.
Market cap: $1.03T (+4.97%)$BTC dominance: 37.66% (-0.34%)
Fear & Greed Index: 33 (Fear)Full Report👉https://t.co/hChbO2RFqK pic.twitter.com/w8U7SW5NvP
— CryptoRank Platform (@CryptoRank_io) October 26, 2022
Bitcoin recaptures $20,000
Bitcoin (BTC) started rising sharply yesterday afternoon, breaking back above $20,000 for the first time since early October. That was accompanied by a huge short squeeze and a declining dollar. However, it doesn’t stop there; at the time of writing, bitcoin is making another leap, rising to $20,670. This means that the bitcoin price is now no less than 7% in the plus.
#DXY on key support level. If will fail then we can see further pump on $BTC.
Decision points on both.👀 pic.twitter.com/HSmd14oXzG
— IT Tech (@IT_Tech_PL) October 26, 2022
Ethereum and cardano hardest climbers in green top 10
Ethereum (ETH) is attracting a lot stronger and even strongest among the largest crypto. The ether price broke through the $1,350 yesterday and this morning even broke the $1,500 for the first time since mid-September. ETH currently stands at $1,536 and is up a solid 14.4% today.
An #Ethereum whale wallet that had not been active for 6+ years woke up today & moved $22.2M worth of $ETH to an empty wallet. $ETH‘s price is +8.1% since this transaction, briefly jumping over $1,500 for the 1st time since the #merge 6 weeks ago. https://t.co/bLwZZwhJSa pic.twitter.com/L78mAfJHq2
— Santiment (@santimentfeed) October 25, 2022
Ripple (XRP) lags slightly today with a rise of ‘just’ 3.7% to $0465. Also shiba inu (SHIB) is only up 5% and binance coin (BNB) 6%. The numbers are rising fast today. For example, dogecoin (DOGE) and polkadot (DOT) are already more than 10% in the plus. Solana (SOL) is up by no less than 11.5% to $31.5 and cardano (ADA) by as much as 13% to $0.4.
This move on $ADA is strong #Cardano market➕social activity is outperforming right now
Insights: https://t.co/LRR3OWvgJ8 pic.twitter.com/IqSfpJ2AwL
— LunarCrush (@LunarCrush) October 25, 2022
Crypto top 100 hardest risers
Yet in the top 100 we find even harder risers and these are mainly crypto-linked to ethereum. Ethereum classic (ETC) is up 13%, ceth (CETH) 14.5% and lido (DLO) 14.7%.
Rocket pool (RPL) even rises by 15.5%, but it is the TKK token of the tokenize xchange exchange that is rising the fastest. TKK is 23% in the plus today and now 47% in the plus this week. This may have to do with hype about an airdrop.
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