Bitcoin Reclaims $28K
By Laxmikant Khanvilkar
Encouraging earnings release from technology giants Alphabet and Microsoft has helped Bitcoin, Ethereum, other virtual digital assets (VDAs) to script recovery in price.
Bitcoin (BTC) reclaimed $28,000 mark on investor sentiment. The largest cryptocurrency by market capitalization was recently trading over $28,400, up 3.33%.
BTC’s late surge came as Google parent Alphabet and Microsoft both slightly surpassed analysts’ expectations and data from analytics firm Coinglass showed that some $11.3 million of BTC short positions had been liquidated. These types of short squeezes have historically tended to accelerate price jumps.
Ether (ETH), the second-largest cryptocurrency by market value, followed a similar pattern and rose 1.58% to change hands at around $1,870. ETH slid as low as $1,804 during the previous session.
The global crypto market cap swelled 2.26% to $1.19 tn, during the last 24-hours.
In the same period total crypto market volume increased 3.89% to $39.91 bn. The total volume in DeFi is currently $3.56 bn, 8.93% while the volume of all stablecoins is now $35.76 bn, which is 89.60%. Bitcoin’s dominance witnessed an increase of 0.41% to 46.33%.
IC15 index tracking top coins last quoted 2% higher at 10,692 level.
Meanwhile, major equity indexes closed in the red Tuesday afternoon a day after embattled First Republic Bank (FRC) said in its quarterly results that it had lost $100 billion in deposits, renewing anxiety about regional banks. Last month, Silicon Valley and Signature banks both imploded.
The S&P 500 and the tech-heavy Nasdaq Composite closed down 1.5% and 1.9%, while the Dow Jones Industrial Average (DJIA) was down 1% for the day.
Elsewhere, Voyager informed of receiving letter from Binance.US stating it’s decision of terminating $1bn asset buy deal.
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