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Cryptocurrency Market Recovers As Bitcoin Nears $52K And Ethereum Surpasses $3K

22/02 17:30

BTC

4.81%

According to CryptoPotato, the cryptocurrency market experienced significant volatility in the past 24 hours, but bulls seem to be gaining the upper hand. The total market capitalization currently stands at $2.087 trillion, with most cryptocurrencies showing gains. Bitcoin's price dipped below $51,000 before recovering to trade around $52,000. This volatility led to approximately $40 million worth of liquidated BTC positions and nearly $200 million for all cryptocurrencies combined. Data from CoinGlass reveals that Ethereum leads in terms of liquidations, with over $44 million in 24 hours. Ethereum's price also experienced substantial volatility, but bulls pushed it above $3,000, trading at $3,020 at the time of writing. Several factors suggest that the rally may continue in the near future, including the hype surrounding the potential approval of a spot ETH ETF in the US, the upcoming Dencun upgrade, positive on-chain metrics indicating a shift toward self-custody, and Bitcoin's halving in April. Despite the past 24 hours' volatility, the market remains mostly green, with the best performers being SingularityNET (AGIX) – up 33.8%; Worldcoin (WLD) – up 21.2%; and Render (RNDR) – up 19.3%. The worst performers are Stacks (STX) – down 5.5%; Hedera (HBAR) – down 5.1%; and LEO Token (LEO) – down 4.2%.

Bullish

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