Bitcoin at $26,000: What is next?
Bitcoin is at $26,000 on the last working day of the week, while Ethereum is at $1715. The increase in altcoins is around 3%. The total value of the crypto market has increased by 2.6% and is moving at the level of $1.08 trillion above the psychological resistance of $1 trillion.
US stock markets closed yesterday with positive closings, with 11 major banks providing $30 billion in support to First Republic Bank, whose shares fell heavily after their negative openings with the effects of the banking crisis. Nasdaq closed the day with 2.5% and S&P500 1.8% gains, as Treasury Secretary Yellen stated that the banking system remains sound. With these rises, which are also reflected in the crypto money market, Bitcoin starts the day with an increase of around 5%, while an increase of 4% is observed in Ethereum. Bitcoin finds buyers at $26,000 and Ethereum at $1,715 in the morning. Altcoins are up around 3%.
The total value of the crypto market has increased by 2.6% and is moving at the level of $1.08 trillion above the psychological resistance of $1 trillion. Bitcoin's dominance continues to rise, with 46.3% and Ethereum dominance at 19.3%. Today, RAD, ARPA, BNT and ENS stand out as the most rising cryptocurrencies in Bitay with double-digit gains.
What is going on in the crypto markets?
In addition, the data on applications for benefiting from unemployment rights from the USA yesterday decreased to 192 thousand levels, maintaining the positive course in the labor market. The focus of global markets was the ECB. The ECB raised interest rates by 50 basis points, in line with expectations. Speaking after the meeting, Lagarde announced that no concessions would be made in the fight against inflation with hawkish rhetoric. Opinions increased in the markets that the Fed's interest rate decision, which will come next week, will proceed with the same determination as the ECB. Currently, the expectations in the markets that the Fed will increase interest rates by 25 basis points are 80%.
Today, on the radar of global markets, Euro Zone inflation data will be at 13:00. It is expected to be 8.5% annually.