On Wednesday, the leading cryptocurrency by market capitalization plummet to two month low below 19k, followed by other leading altcoins due to current market situations and world economical crisis, earlier today, there was a spike in price in the leading digital assets recording a high increase of over 10% with a market dominance of 38% with prior altcoins regaining price momentum, earlier today, ethereum preparing ahead of its long-anticipated merge rose 7% with Solana leading with the good market performance of 9.6%, incredibly total crypto market capitalization has also reclaimed it $1.04 trillion mark considering a bullish trend for the entire crypto market, this is considered a remarkable market recovery lately.
A price of $21,100 was recorded today according to data from Cojnmarketcap allowing BTC to reclaim its two week high price record since August 26th.
The recent market recovery could be attributed to certain decision-making by Euro Central Bank (ECB) on its decision to raise the Eurozone interest rate by a record of 75% basis, Asian market did well with good market recovery of 2.69%.
We could see a more positive price move in bitcoin if both stock and crypto regulatory policies go well, will bitcoin reach another new high record of 24k before the month runs out or will more market pressure affect the price of the leading asset?
All price action data/information used for this publication are sourced from Coinmarketcap a recognize crypto price action platform price of crypto can change with respect to current market changes.
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