Crypto Markets Show Signs Of Recovery As BTC Pops Above $41K

Crypto markets show signs of recovery after Bitcoin popped above $41K and Ethereum followed suit so let’s read more in today’s latest crypto news.

Bitcoin is up by 5% on the day and topped the $41,000 price range twice during the span. Ethereum added 6% while the wider markets started to recover. Last week was quite flat for the wider crypto market but the top coins are starting to mount a recovery with Ethereum and Bitcoin posting some notable gains. Bitcoin topped $41,000 once again and now sits near $40,791 with a 5% increase over the past day and it is the first time in a week that BTC increased above $41,000.

The leading cryptocurrency is still down over the past three months since it was sitting near $50,000 in December. The wider crypto market suffered in the timespan with BTC dropping as low as $33,500. The crypto markets show signs of recovery and before the latest price action, OANDA Senior Market Analyst Edward Moya wrote that BTC remains trapped in a very tight range despite the improving sentiment for risk which also reflects on the lack of movement in the past few days. Bitcoin is still showing some upward movement and Moya pegged the current BTC ceiling at $45,000.

The on-chain analyst Willy Woo tweeted that the coin is showing some green signs that are forming after the winter. Ethereum increased by 6% over the last day and at a price of ,706 with the second biggest crypto being at its highest price in about a week but hasn’t touched the 00 mark since March 2.
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The rival smart contract platform Solana showed a 5% gain over the past day and has a market price above $84 while Polkadot is up by 6% to $18. according to the data from CoinGEcko, the overall market is up by 4% over the past day.

Not every coin in the top 10 has seen a sizeable gain today but XRP is up less than 2% at a current price of $0.77. Binance Coin and Cardano are both up by 3% as of the time of writing. Looking at the top 100 coins, The Sandbox’s SAND token is one of the biggest winners today and it increased by 11% overnight. The game announced a new partnership recently with HSBC and Paris Hilton. Fantom’s FTM token gained 11% over the past 24 hours after a rough few weeks for the ecosystem. The developer Andre Cronje said he will quit the Defi space which sent tokens from his projects crashing.

Little green shoots forming after a winter. #Bitcoin

— Willy Woo (@woonomic) March 16, 2022

FTM is still down by 10% over the past week but then jumped over the past day because it got listed on eToro for the first time.