Bitcoin broke through 17000 US dollars, and Ethereum and Dog Coin expanded their gains: analysts forecast a rebound in cryptocurrency this week, but don't be complacent
Bitcoin
Bitcoin/USD
+9.10%
And Ethereum
ETH/USD
+5.83%
It soared on Sunday night and appreciated sharply along with other cryptocurrencies in the top 10 in market value.
According to the data of CoinMarketCap, Bitcoin rose 3.42% to $17175 in the past 24 hours, breaking the level of $17000, while ETH rose 7.84% to $1292.
Mime and dog coins
Governor/USD
+7.10%
It also showed positive earnings, up 4% to US $0.075.
The total market value of cryptocurrency increased by 2.77% to US $845.4 billion.
The Dow Jones Industrial Average rose 2.1%, the Standard&Poor's 500 Index rose 2.3%, and the Nasdaq Composite Index closed 2.6% higher on Friday.
This is the best day for the Dow Jones and S&P 500 since November 30, and the most successful day for the Nasdaq since December 29.
Michael Van De Poppe predicted a sharp rebound this week, but warned that there would be a slight decline on Monday due to the possible bankruptcy crisis of Gemini, the cryptocurrency exchange.
Genesis, a Crytpo lender, cut 60 jobs last week, accounting for 30% of its total employees, as it tried to save money and avoid filing for bankruptcy.
CryptoSlate's analysis of Glassnode data shows that the positions of Bitcoin and Ethereum have increased significantly.
The analysis shows that there is an obvious trend that call options are significantly more than put options, indicating that option traders are strongly bullish. Bitcoin has the strongest demand level in the range of US $15000 to US $20000, and its call options and put options are roughly the same.
Considering its recent consolidation since the collapse of FTX, it is not surprising that it trades within this general price range.