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Over the past day, the price of bitcoin has increased by more than 8%, returning to levels above $20,000.
At the time of writing, digital gold is trading in the $20,250 region.
Hourly BTC/USDT chart on Binance exchange. Data: Trading View.
The second largest cryptocurrency in terms of capitalization has come close to the level of $1,400, near which it was last traded on September 21.
Hourly chart of ETH/USDT on the Binance exchange. Data: Trading View.
Flagship crypto assets have revived the rest of the market. The top 20 coins by market capitalization look like this:
Uniswap’s UNI token showed the highest growth over the past day – 18.1%. Solana (SOL) and Polkadot (DOT) gained 8.9%.
The total market capitalization has reached $1.01 trillion, according to CoinGecko.
According to Glassnode on-chain analysts, short-term investors are currently suffering significant losses. Hodlers are holding firm, and many metrics point to a “market cycle detox.”
Recall that on September 21, Bitcoin reacted with a sharp correction to the increase in the key rate of the US Federal Reserve System.
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