Crypto Markets Rebound After Yesterday’s Bottom: Price Analysis

Crypto markets rebound after yesterday’s bottom and most of the coins are in the green today while Waves went on a roll after a 27% surge so let’s read more in today’s latest crypto market news.

After a few days of freefalls, BTC managed to bounce back and add a few thousand dollars and most of the altcoins are in the green as well with Terra and Waves being the biggest gainers after double-digit increases. The past week was quite bearish for the number one cryptocurrency after the asset failed to surpass $45,000 and in the days that followed, BTC was losing value before it dropped below $40,000 on Friday.

The situation got worse during the weekend as BTC consolidated near $39,000 and tried its hand at $40,000 on Sunday but was stopped in the tracks. This led to more price drops and the latest one came yesterday. BTC slumped to over $37,000 which became the lowest price point since the end of February. The bulls arrived at the scene later and pushed BTC north. As of now, the asset got near $39,000 after the near 2% daily recovery and the market capitalization is below $750 billion.

The altcoins also suffered in the past few days but most have minor gains. ETH increased by 1.5% and got close to $2600 after bouncing off $2500 yesterday. The second biggest crypto is still down by $400 in a week. BNB Chain increased by a similar percentage standing near $385 while Solana, Shiba, Polkadot, MATIC which also is in the green. Ripple, Avalanche, Cardano, and CRO all produced minor losses on a daily scale but Waves is the biggest gainer from the top 100 coins. The crypto markets rebound after yesterday’s bottom and added $60 billion to hit $1.7 trillion now.

Compared to the analysis of a day ago, LUNA and NEAR surge in value over the week with most of the other prices fluctuating on the market.  Last week, the news was dominated by Russia’s attack on Ukraine and how BTC suffered the effects of the conflict.
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Bitcoin traded as low as $37,500 but then a midweek rally drove the prices up by 20% before the wave settled once the prices tumbled to $39,533 as of the time of writing. Bitcoin’s fast gains and losses leveled out and finished the week up by 0.78% while Ethereum had a bad time and fell over 4.3% to trade at a level of $2670.