The cryptocurrency market is recovering together with the traditional market and is ahead of growth. The top 10 coins have been in the green in the last 24 hours. The overall capitalization of the cryptoma market rose by $ 120 billion during the day. Nevertheless, this indicator remains below the threshold of $ 2 trillion. The investors started buying quite quickly in autumn, which indicates high demand. However, it is worth understanding that this can be short -term positions and that a quick recovery of cryptocurrency prices can lead to equally quick profit.
in the last 24 hours
Bitcoin has gained almost 4%
in the last 24 hours
The decline of the The dominance index confirms the presence of a widespread demand for cryptocurrencies. This indicator is now 41.9% and reflects investors' interest in old coins. Bitcoin has increased almost 4% in the last 24 hours and deals with around $ 44,000. Nevertheless, the coin has not been able to compensate for the latest correction. Bitcoin has lost about 9% in the last 7 days.
The Crypto Fear & Greed Index for Bitcoin and the most important cryptocurrencies are 27, which corresponds to "fear" mode. The RSI index for the Bitcoin on the daily chart is located in the neutral area near the "45" brand and shows moderate growth.
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The proportion of Bitcoin in the entire cryptocurrency capitalization is now 41.9%
The cryptoma market is now faced with uncertainty about the prospects. And in such times, increased attention is paid to the actions of the BTC whales. Regardless of the falling dominance index of Bitcoin, everyone understands that the first cryptocurrency is the main engine of the cryptoma market.
Arcane Research, an analysis company, determines a divergence in the actions of the "first whales" and the "new whales from 2020-2021". The company's analysis shows that "new whales" could be susceptible to profit take, while "first whales" prefer to accumulate BTC in price declines. Trigger for the cryptom market can be activated. His coin sales, which have remained unmoved for about a decade.
The cryptocurrency community also speculates that we could now experience the division of the most prominent participants in the cryptom market into several camps. Both sides are interested in maximizing the profits, but with the "Long Wals" they also want to have as many coins as possible if they approach the upper limit for the output of assets. This type of investor can now prevent the cryptoma market from collapsing deep corrections in phases.
The FXPro analyst team
