In a low-volatility environment, Bitcoin rebounds, altcoins rise

AAVE rose 20% compared with an ETH gain of 4% and an SOL gain of 9% on Friday.

While bitcoin rallies amid lower volatility, altcoins lead
While bitcoin rallies amid lower volatility, altcoins lead

Bitcoin (BTC) rose back above $45,000 on Friday as volatility subsided.
Alternative cryptocurrencies (altcoins) were also up, particularly AAVE, which gained 20% in the last 24 hours (up 60% in the last week) as a result of the platform’s version 3 (v3) upgrade earlier this month. Over the last 24 hours, Ether (ETH) has increased by 4%, compared to a 9% increase in Solana’s SOL token and a 1% increase in BTC.

Meanwhile, equities fell for most of the New York trading day as investors braced for rapid monetary policy tightening in response to solid employment statistics in the United States. Low-interest rates and central bank support aided asset price rises. When inflation rises and the economy overheats, central banks reverse accommodating policies, resulting in increased market volatility.
Because of the cryptocurrency’s price increase, there has been an increase in short liquidations in the bitcoin futures market during the last 24 hours. When an exchange forcibly terminates a trader’s leveraged position as a safety measure owing to a partial or entire loss of the trader’s initial margin, this is referred to as a liquidation. Despite BTC’s price rise, the ratio of buy/sell volume on Friday was slightly negative, indicating low confidence among crypto traders.

A spike in volume is expected?

According to CoinDesk statistics, Bitcoin trade volume across major exchanges remains relatively modest, despite trading activity tends to surge during the beginning and last weeks of the month.
The chart below depicts huge volume spikes, which are common during price declines. Some observers have noted that BTC tends to fall around the beginning of the month before recovering, as it did in February and March.

The volume of Bitcoin trades by exchange ” source: data.bitcoinity.org”

Positive sentiment

Put/call ratio of Bitcoin (Skew)

Roundup of altcoins

GMT price increase: The three-week-old GMT increased by up to 52 percent on Friday, reaching highs of $3.11. GMT is the governance token of Stephen, a fitness program that lets players access in-game features including minting virtual footwear, upgrading “gems,” and voting on governance.

Axie Infinity postpones the release of their ‘Origin’ game: Sky Mavis, the creator of Axie Infinity, postponed the release of its highly anticipated “Origin” update from March 30 to April 7 after hackers stole $625 million from the underlying Ronin blockchain earlier in the week.

The metaverse economy might reach $13 trillion by 2030: Getting to that market level will need significant infrastructure investment, according to research issued by Citi on Thursday. Citi believes that the “metaverse is on its way to becoming the next generation of the internet or Web 3.”

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  1. Pingback:Announcing decentralized fund stacking, selling S-NFT, and listing on the central market increases OPUL’s price - WITHCRYPTO

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