Bitcoin, Ethereum, Dogecoin Recover Thanks To 'Dip Buying' And Seller Exhaustion


Major coins traded higher Tuesday evening as the global cryptocurrency market cap rose 1.9% to $1.8 trillion.

 
Price Performance Of Major Coins:
Coin | 24-hour | 7-day| Price
Bitcoin (CRYPTO: BTC) 2.4% -14.3% $38,171.80
Ethereum (CRYPTO: ETH) 1.1% -17.4% $2,628.45
Dogecoin (CRYPTO: DOGE) 1.3% -13.4% $0.13

Top 24-Hour Gainers (Data via CoinMarketCap)
Cryptocurrency | 24-Hour % Change (+/-) | Price
Anchor Protocol (ANC) +19% $2.88
Hedera (HBAR) +13.8% ​​$0.23
Arweave (AR) +10% $26.90

    Why Is It Moving? Cryptocurrencies moved higher alongside stock futures Monday evening. S&P Futures and Nasdaq Futures were seen trading 0.54% and 0.78% higher at 4,323.25 and 13,969.75, respectively, at press time.

    Edward Moya, a senior market analyst with OANDA, attributed the gain in cryptocurrencies to “dip buying” and seller exhaustion
 
    “Bitcoin was getting dangerously close to the low levels that were seen after it lost over half its value in January. Cryptos remain the ultimate risky asset and the escalation Russia-Ukraine will likely keep the volatility elevated with swings to 20% in either direction.”

    Moya noted that both monetary tightening and current Russia-Ukraine geopolitical tensions are “getting closed to being priced in.”

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