{"id":56088,"date":"2022-11-23T13:17:32","date_gmt":"2022-11-23T12:17:32","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=56088"},"modified":"2022-11-23T13:17:32","modified_gmt":"2022-11-23T12:17:32","slug":"cryptocurrencies-are-in-the-green-why-is-the-market-rising","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/cryptocurrencies-are-in-the-green-why-is-the-market-rising\/","title":{"rendered":"Cryptocurrencies Are in the Green. Why is the Market Rising?"},"content":{"rendered":"
Following the FTX crash, the crypto market had to suffer great shockwaves. It resulted in a significant crypto sell off and thus, major cryptocurrencies lost their value. The total loss suffered by the crypto industry was an insane $1.4 trillion.<\/strong><\/p>\n <\/p>\n The overall crypto market dumped a whopping total of $60 billion over the course of the last two days<\/strong> before making a prominent comeback today. Several cryptocurrencies are now back in the green. The current global market capitalization of cryptocurrencies is at an improved $829.28 billion. It is up by an impressive 5.85% over the course of 24 hours.<\/p>\n As reported by Binance,<\/strong> traders were seen to be indulged in shorting at their highest rates in five months. The previous price bottom occurred when shorts reached the same levels back in June this year. Thus, it was fairly easy to assume that a rebound would be coming in the market.<\/span><\/p>\n Many leading cryptocurrencies in the crypto market have managed to show an increase in their values as of today. Bitcoin<\/a> managed to hit a 2-year low<\/strong>. However, it has now regained a position of over $16,000. At the time of writing, Bitcoin is trading at $16,600 and has shown an impressive 5.60% increase in 24 hours. The rise of Bitcoin has also propelled many altcoins.<\/span><\/p>\n <\/p>\nThe Cryptocurrencies Market Recovers as Users Become Optimistic<\/span><\/h2>\n