Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-06-27 11:58:30

Ether Recovery Helps Crypto Revisit $1 Trillion Market Cap Level

On Sunday, when the market began to show signs of stabilization, Ether and Bitcoin reached their highest values in ten days. The second number of cryptocurrencies increased 5.8% on Sunday to $1,279.06 before decreasing on Monday. After falling as low as $880.70 on June 18, the token has since rallied. Around its 200-week moving average, which is currently close to $1,200, it seems to have found support. Bitcoin Reached its Peak After hitting a low of $17,742.83 on June 19, the number one Bitcoin reached its peak on Sunday at $21,860. The total market value of cryptocurrencies retook the $1 trillion mark on Saturday. However, as of 9.20 a.m. Singapore time, on Monday, it was slightly below that level. In a note published on Friday, Fundstrat stated that Ether “is leading the way following significant short liquidations.” On Friday, Ether’s most significant short liquidations in the previous five days were recorded, totaling nearly $60 million. Federal Reserve Rate Increase In this year’s Federal Reserve rate increases and persistently rising inflation, cryptocurrencies have suffered. Even after recovering from its record lows, Ether is still down more than 60% for the year. On Friday, a significant option expiration may have caused volatility. However, despite “perhaps unexpected stability,” “short risk cleared fairly swiftly” for Ether, according to a note by Genesis Trading’s Ainsley To, Gordon Grant, and Noelle Acheson.The p...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.