{"id":47977,"date":"2022-05-30T12:16:40","date_gmt":"2022-05-30T10:16:40","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=47977"},"modified":"2022-05-30T12:16:40","modified_gmt":"2022-05-30T10:16:40","slug":"crypto-market-starts-the-week-dyed-green-what-is-the-reason","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/crypto-market-starts-the-week-dyed-green-what-is-the-reason\/","title":{"rendered":"Crypto Market Starts the Week Dyed Green, What is The Reason?"},"content":{"rendered":"

The crypto market heaved a sigh of relief as major tokens began the week on a balmy note. Bitcoin (BTC) traded above the $30K<\/strong> mark after a choppy ride the past couple of weeks. Ethereum (ETH) along with other prominent altcoins surged significantly, docking in the green zone.<\/strong> <\/p>\n

After witnessing a storm-tossed sail, cryptocurrency prices surged today with the global crypto market cap jumping over 5.70 per cent<\/strong> in the last 24 hours to $1.27 trillion.<\/strong> The total crypto market volume increased nearly 33.92 per cent<\/strong> in the last 24 hours to $64.98 billion.<\/strong>\u00a0<\/span><\/p>\n

\"Crypto<\/p>\n

Is Bitcoin On The Path To Recovery?<\/h2>\n

\"Crypto<\/p>\n

According to CoinMarketCap<\/a>, Bitcoin (BTC) leaped 5.77 per cent<\/strong> in the last 24 hours to currently hover at $30,628.<\/strong> The world’s most popular token has managed to break the $30K mark after struggling between $28K-$29K<\/strong> for quite sometime. Although, Bitcoin (BTC) started the week on a good note, experts believe BTC’s volatility could rise, if another price breakdown occurs.<\/p>\n

Joe DiPasquale<\/strong>, CEO of crypto fund manager BitBull Capital, explained that from a mid-term point of view, Bitcoin’s situation still looks bearish<\/strong>. If sellers’ pressure continues, traders can expect a sharp fall below the $27,757<\/strong> mark. Such a scenario is relevant until the end of June. He said,<\/p>\n

“If it’s able to break through $30K, it may make a run. But, if it continues to be pressured down by bearish sentiment, it could fall to its next support line around $25K.”<\/span><\/em><\/p>\n

\"Crypto<\/p>\n

The Ascending Altcoins Market<\/h2>\n

\"Crypto<\/p>\n

Ethereum (ETH) rose by 7.01 per cent<\/strong> in the last 24 hours to trade at $1,906<\/strong>. Ether prices seem to be oscillating to scaling worries post the transition to proof-of-stake titled “The Merge”<\/a>. Last week, OANDA senior market analyst, Edward Moya, had expressed that Ethereum (ETH) has been selling off as many crypto traders doubted if Ethereum 2 will be successful.<\/strong> He added,<\/p>\n

“Ethereum 2 merge was delayed until August, but it won\u2019t truly let Ethereum be scaled up, they will use a multi-chain system and will connect to a wrath of Layer 2 scaling solutions.\u201d<\/em><\/p>\n

Along with Bitcoin and Ethereum, several top crypto prices accelerated with Cardano, Solana, Polkadot and Avalanche (AVAX) recovering the most. Cardano (ADA) soared more than 12 per cent<\/strong> in the last 24 hours to hover at $0.52<\/strong>. Within the same timespan, Solana (SOL), Polkadot (DOT) and Avalanche (AVAX) increased in the range of 9 – 11 per cent<\/strong>.<\/p>\n

Meanwhile, popular memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB) price increased by 5.97 per cent<\/strong> and 14.98 per<\/strong> cent respectively in the last 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto market heaved a sigh of relief as major tokens began the week on a balmy note. Bitcoin (BTC) traded above the $30K mark after a choppy ride the past couple of weeks. Ethereum (ETH) along with other prominent altcoins surged significantly, docking in the green zone.<\/p>\n","protected":false},"author":21,"featured_media":47999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84,74,9156],"tags":[4586,4602,4910,5536,4656,4677,4682],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/47977"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=47977"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/47977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/47999"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=47977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=47977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=47977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}