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The Reason for the Rise in Crypto

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In the middle of his struggle after the failure of FTX, the cryptocurrency market is today record modest gains, driven by the same modest price increase recorded by the top assets by market capitalization – Bitcoin (BTC) and Ethereum (ETH).

In fact, the total amount of the crypto market at the time of publication is $ 811.31 billion, showing an increase in the metric of 0.38% in the last 24 hours, according to CoinMarketCap data. Finbold was reinstated on December 20.

That said, the current price of the crypto market is still far from its peak of November 9, 2021, when it commanded a wealth of $ 2.92 trillion, and its current position represents a decline track of 72, 23% since then, and 62.97% since the beginning of the year.

The rise in the global crypto market comes as Internet users like former kickboxer Andrew Tate expressed their excitement about the launch of the decentralized financial system (DeFi) Fluidity Money on the Ethereum network.

On top of that, the report found that the number of dead coins fell by more than 70% in 2022 and 92% of high-end customers want to get crypto, as Finbold said earlier. Moreover, the investment in the global market is also a direct result of the value recorded by Bitcoin and Ethereum.

Bitcoin Price Analysis

In fact, Bitcoin records a daily gain of 0.51%, changing hands at a price of $16,827 and recovering from a weekly loss of 3.56%, when its market price stands at $323.73. dollar, maintaining its position as the largest cryptocurrency through this presentation.

Meanwhile, technical analysis (TA) indicators for Bitcoin and 1-day gauges are slightly bearish, as their summary suggests “sell” at 15, oscillators’ output indicates “buy” at 4, forming moving averages (MA) in the Zone “strong sell” at 13, according to data from TradingView.

Crypto Ethereum Price Analysis

Meanwhile, Ethereum has increased its price by 2.42% to now $1,213 as it recovers from a 5.80% loss during the week, with a market price of 148.42. billion, making it the second largest crypto asset by this metric. , before only Bitcoin.

In terms of 1 day TA, the gauges for Ethereum are also in the bearish zone, showing “selling” at 14, as the oscillators gathered suggest “buying” at 4 and MA in the “selling” zone at 13 – on the one hand. and the flagship digital asset, although it is doing better than Bitcoin in the second half of 2022.

It should also be said that market capitalization entries can change depending on the movement of these two main digital assets as bulls and bears who continue their daily fight about who controls the cryptocurrency market.

Whether their movement will continue to rise will depend on developments in the crypto sector, such as the possibility of pulling back ETH, whale stocking Bitcoin, Ripple v.

The outcome of the Securities and Exchange Commission hearings, as well as the macroeconomic environment, including the Federal Reserve’s monetary policy.

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