On Wednesday, the bulls took control of price movements and bitcoinraising the total cryptocurrency market value 1 trillion dollars Traditional markets have come under pressure, while crypto fans have been delighted by helping him rise above it.
Cryptocurrency Market Value Rises Above $1 Trillion Again After BTC Rises Above $21,000
The volatile day in the stock markets, Alphabet and MicrosoftThis resulted in prices falling after weak earnings reports from . This has raised new concerns that the economy may continue to weaken in the coming months.
Data from TradingView Bitcoin (BTC) It also saw a second day of gains, briefly breaking above $21,000 to hit a daily high of $21,026.
market analyst Rekt Capital “While we are excited about this recent spike in BTC’s price action, from a macro perspective, BTC is still in the historical bottom and has yet to record a major breakout,” he warned.
BTC will need to break $23,450 first to see stronger trend momentum,” he added.
According to data provided by Coinglass, the only group of crypto investors not happy with Wednesday’s rally is Bitcoin-only in the past 24 hours. $757 million There were derivative investors experiencing liquidation in their value.
Total amount liquidated in transactions across all cryptocurrencies on Wednesday 1.43 billion dollars it happened. This reached the highest figure so far in 2022.
Overall cryptocurrency market cap currently $951 billion and Bitcoin’s dominance rate is 38%.
*Not investment advice.
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