Total crypto market cap reclaims $3.8 trillion.
This signals that the market is up 2.3% from $3.7 trillion today.
This also signifies that a steady price recovery is underway.
Over the previous week, the prices of stocks and crypto assets fell significantly, with the price of BTC going as low as the $113,000 price range and the price of ETH going as low as the $3,400 price range. Today, the total crypto market cap reclaims $3.8 trillion, up 2.3% from $3.7 trillion. This signifies that a strong recovery is underway and that crypto prices will soon see new ATH prices.
Total Crypto Market Cap Reclaims $3.8 Trillion
Bullish sentiment has reclaimed the crypto market, maintaining strong expectations for a continued bull market rally. Presently, the prices of pioneer crypto assets, Bitcoin and Ethereum, are once again in a steady green upward trajectory. Crypto analysts are pleased to see the financial markets stabilizing after a few days of turbulence caused by varying factors, led by another delay in rate cuts.
https://twitter.com/coingecko/status/1952188537928855980
While crypto prices and financial markets may have taken some hits over the past few days, seasoned analysts held on to their crypto assets and watched sudden panic selling take over. According to a reputed analyst, many panic sold as they expected Bitcoin to go parabolic without any corrections. He concludes that since BTC closed the highest monthly candle in BTC history, there is no reason to be afraid.
https://twitter.com/DrProfitCrypto/status/1952045867264860529
After confirming that he will be holding on to his Bitcoin, he declares that there is no second-best asset to swap BTC into. The same analyst goes on to state that he will not be sharing his weekly BTC report, as nothing has changed from last week’s Sunday report. He ends his message saying that he is expecting a new ATH for BTC in the coming 2-3 months, and that this new price will range between $130,000 and $145,000 price range.
Crypto Market Up 2.3% From $3.7 Trillion
With the price of BTC and ETH both hinting at a steady recovery, reputed analysts are once again looking at the pioneer crypto asset more closely to determine what is next for BTC and the price of ETH and altcoins in the days ahead. According to one reputed trader and industry enthusiast, an observation on the BTC price chart shows a not-so-bad prediction so far. He marks a clean bounce right at the trendline as horizontal resistance turns to support.
The same analyst makes another interesting observation. According to another chart shared, he says that upon zooming out on Bitcoin OBV, he sees a bullish pattern on the channel. He says that this channel once said to bid at $60,000 and then sell at $105,000 both times. Most recently, the same channel said to reload at $75,000, but hasn’t signaled to sell yet. This means that a highly bullish surge in crypto prices is expected ahead.
