Why Is The Crypto Market Pumping Today?-web3.0-php.cn

Home

web3.0

Why Is The Crypto Market Pumping Today?

WBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWBOYWB

Aug 06, 2024 pm 06:33 PM

Crypto market Market Up

After the market crashed in the last few days, we saw Bitcoin plummet to $50k and Ethereum to below $2.2k. However, the market started recovering in the last 24 hours, and Bitcoin is now above $55k while ETH is above $2.5k.

Why Is The Crypto Market Pumping Today?

The crypto market is up today after crashing in the last few days.

Bitcoin plummeted to $50k and Ethereum dropped below $2.2k, but both have since recovered.

Bitcoin is now trading above $55k and Ethereum has climbed back up to $2.5k.

Some other top altcoins, like DOT and SOL, also rebounded nicely, showing double-digit gains.

So, what's driving this rebound in the crypto market?

Well, a lot of traders started accumulating at some key psychological levels, and this helped to push up the prices.

For BTC, that area was around $50k, and for Ethereum, it was around $2.1-2.2k.

Moreover, the Japanese stock market surged 11.90% today, following yesterday’s dramatic 12% decline.

Meanwhile, U.S. stock futures are showing positive momentum, with a 1.5% increase, indicating potential optimism in the broader financial markets.

The above is the detailed content of Why Is The Crypto Market Pumping Today?. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Tokenized Treasuries Near $6B Milestone, Led by BlackRockApr 19, 2025 am 11:44 AM

The value of blockchain-based U.S. Treasuries is closing in on a new milestone, with total holdings approaching $6 billion.

title: Canary Capital Is Launching a TRX-Tracking ETFApr 19, 2025 am 11:42 AM

Canary Capital is looking to launch an exchange-traded fund (ETF) tracking the price of Tron's native token, TRX, according to a filing.

Solana Stablecoin Market Cap Hits Record $12.73 Billion as Sui Supply Reaches $800M with $60M InflowsApr 19, 2025 am 11:40 AM

The stablecoin market has surpassed a total capitalization of $233 billion. Within this sector, Solana's stablecoins have reached a new all-time high market capitalization of $12.73 billion

Canary Capital Files for Staking TRX ETF, Targeting Launch Before Spot Bitcoin ETFsApr 19, 2025 am 11:38 AM

Canary Capital is looking to get the U.S. Securities and Exchange Commission's sign-off for an exchange-traded fund that would track the Tron token TRX and has a staking component.

MoonPay CEO Ivan Soto-Wright calls on US lawmakers to leave a path open to state-level regulators when passing legislation on stablecoinsApr 19, 2025 am 11:36 AM

In an April 18 X post, Soto-Wright said he wanted Congress to “keep state-regulated issuers in the game” when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework.

Michael Saylor Dissects the Philosophy and Technological Potential of Bitcoin in '21 Truths of Bitcoin'Apr 19, 2025 am 11:34 AM

Saylor's ideas centre on the fixed 21 million coin supply of Bitcoin. He presents this shortage as a revolutionary economic idea rather than only a technical one.

Official Trump (TRUMP) memecoin unlocked 40 million tokens, worth around $300 millionApr 19, 2025 am 11:32 AM

The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.

TRUMP (TRUMP) memecoin unlocks 40 million tokens, worth around $300 millionApr 19, 2025 am 11:30 AM

The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump.