Matic adds 8 % daily, Bitcoin at a decision point (market observation)

Matic adds 8 % daily, Bitcoin at a decision point (market observation)

Bitcoin experienced a certain volatility yesterday after the announcement of the US BIP, but now remains at a key point of around $ 23,000.

Most old coins are calmer today, with ETH, SOL and XRP slightly falling back. Matic and Leo are well in the green area.

Bitcoin at the key point

The price increase of Bitcoin Since the beginning of the year, the general mood in the industry has changed, which the Fear and Greed Index shows. The metric went into the area of "greed" for the first time in almost a year.

This happened when cryptocurrency increased its USD value by about 40 % in four weeks. The highlight of the run in early 2023 came at the beginning of this week when BTC increase to $ 23,800. This was the highest price since September last year.

Bitcoin, however, could not move further up and went back to $ 23,000. All eyes were directed towards the United States when the latest GDP data were shortly before the publication. The largest economy in the world exceeded expectations with an increase of 2.9 % for the last quarter of 2022.

At first, BTC stayed calm, but hissed at $ 500 hours later. Nevertheless, it has recovered to $ 23,000, which is a very important level for its short -term price development.

BTCUSD. Tradingview

Matic, Leo on a role

The old coins have also increased impressively since the beginning of the year. Most of them have now calmed down during the day, even with some retracements such as ETH, SOL and XRP. All of these have dropped by up to 2%.

Binance Coin remains over $ 300 after a slight daily increase. Cardano, polkadot and tron are also easy in the green area.

Nonetheless, the native cryptocurrency of polygon has increased most from the alts with a larger upper limit. Matic has increased over 8 % in one day and is traded over $ 1. Leo is another remarkable winner and rose 8 % to $ 3.8. Chainlink and Apecoin follow, both of whom have risen by 5 %.

The crypto market capitalization is quite quiet today and is almost $ 1.050 trillion.

Overview of the cryptocurrency market. Quantify crypto