Bitcoin Rebounds To Touch $41,000, Ether In Green

Cryptocurrency price today: On Tuesday, April 19, Bitcoin turned around to touch the $41,000 mark for a few minutes, before stabilizing at $40,000. Bitcoin’s pullback was largely the result of volatile markets. Not just Bitcoin, the global cryptocurrency market jumped over 4% as all major crypto coins rallied on the day. On the other hand, Terra (LUNA) stable coin, TerraUSD or commonly referred to as UST, has surpassed USD (BUSD) to become the third largest stable coin by market capitalization.

The price of bitcoin today at the time of writing climbed 4.40% to trade at $40,739.16, according to the data. Ether price also rose 4.53% to $3,047.80, according to data from CoinMarketCap. Bitcoin and Ether, along with other top crypto coins, have contributed to a consolidated increase in the global cryptocurrency market.

“A key indicator of Bitcoin’s recent price rally is the Nasdaq 100 (NDX) late afternoon rally of nearly 80 points. Since Bitcoin is so strongly correlated to NDX in 2022, the cryptocurrency also saw a late surge in the early hours of April 19,” said Darshan Bathija, CEO and co-founder of Vauld.

“The continued high correlation between BTC and NDX shows that the crypto is very risky. This could act as a deterrent to Bitcoin’s recovery as NDX is 3.5% below its 100-day moving average (DMA) as Bitcoin is currently testing its 100DMA,” he added.

“On the daily 4-hour timeframe, BTC broke out of the descending channel pattern. The daily RSI edged closer to 45 as buyers dominated the past two days of trading. Market sentiment for BTC has moved out of the Extreme Fear zone and we might expect more buying momentum to follow. The next resistance is expected at $48,600 and immediate support for BTC is expected at $37,600,” said trade desk WazirX.

“The Terra (LUNA) stable coin, TerraUSD or commonly referred to as UST, propelled Binance USD (BUSD) to become the third largest stable coin by market capitalization. This was reflected in the price of its native token, LUNA, which jumped over $92, gaining over 17% in the last 24 hours. Terra recently accumulated large amounts of Bitcoin, amounting to nearly $2.4 billion, to back its UST stablecoin,” he added.

Here are the top 10 cryptocurrencies and their prices as of April 18, 2022 (data from coinmarketcap.com)

Bitcoin $40,739.16 or 4.40% gain in the last 24 hours

Ethereum $3,047.80 or 4.53% gain in the last 24 hours

Tether $1.00 or 0.01% loss in the last 24 hours

BNB $420.50 or 5.19% gain in the last 24 hours

USD Coin 0.9997 or 0.01% loss in the last 24 hours

XRP $0.7678 or 4.09% gain in the last 24 hours

Solana $102.00 or 5.11% gain in the last 24 hours

Terra $89.16 or 16.07% gain in the last 24 hours

Cardano $0.9309 or 5.54% gain in the last 24 hours

Avalanche $77.66 or 5.70% gain in the last 24 hours

Read all the latest IPL 2022 news, breaking news and live updates here.

We would love to give thanks to the writer of this article for this awesome web content

Bitcoin Rebounds To Touch $41,000, Ether In Green


Find here our social media profiles as well as the other related pageshttps://metfabtech.com/related-pages/