The crypto market value sees that 50 billion dollars flow in within 24 hours when cryptocurrencies turn green
After spending most of the last week in the red, the crypto market turned green on July 5, powered by the flagship cryptocurrency Bitcoin (BTC), which has seen the price briefly climb above the crucial level of $ 20,000.
In fact, the crypto market value has risen from $ 864 billion to $ 914 billion in the last 24 hours, which means that an inflow of $ 50 billion has come in over that time, according to CoinMarketCap data.
The move reflects an increase of 5.78% in the last 24 hours, with a total crypto market volume in the last 24 hours of 58.94 billion dollars, which gives an increase of 54.81%.
The celebration of Independence Day in the United States and other national holidays around the world led to the closure of a number of traditional investment markets.
Despite this, investors in cryptocurrencies continued to access their cryptocurrencies and buy Bitcoin and most of the top 100 digital assets.
Bitcoin leads crypto market movements
When an asset is stuck in a prolonged and severe decline, it is standard practice for individuals to examine the charts, analyze various indicators and get their checklists out in an attempt to predict when the asset may find a bottom.
When it comes to Bitcoin, there are now a large number of activities of this type, and there are technical indicators that have previously predicted precisely this development.
At the moment, the price of Bitcoin is trading at $ 19,984, up 3.19% in the last 24 hours, but down 3.79% compared to last week, at the time of publication.
In particular, Bitcoin has a total market value of $ 385 billion and has seen an inflow of $ 20 billion alone to market value in the last day.
Crypto-trading analyst Michael van de Poppe noticed that he would look at $ 28,000 for Bitcoin if there is a chance that $ 20,000 could be turned around, he added:
“Bullish divergence on the daily time frame for Bitcoin on CME futures. Turn around $ 20K and we will be good to go towards $ 23K and the summer relief rally. Finally.”
Elsewhere, the second-largest cryptocurrency by market value, Ethereum, is trading at $ 1,146, up 8.98% in the last 24 hours, with a market value of $ 140 billion.
Disclaimer: The content of this page should not be construed as investment advice. Investment is speculative. When you invest, your capital is at stake.
