Concerns about the omicron variant of Covid-19 were noted during Friday’s trading session
The major cryptocurrencies including Bitcoin (BTC) had a strong performance on Sunday night, with global cryptocurrency flows 220.127.116.11% to 18.104.22.168% to 22.214.171.124% of market capitalization
After a 24-hour tracking period, BTC was trading up 4.47% at $57,218.96. In one week, it has fallen 1.95%.
The second largest coin by market cap, Ethereum
It was trading 4.82% higher at $4,289.99 after a 24-hour tracking period. In a seven-day period, it has gained 1.29%.
It was up 0.96% at $0.2066 in 24 hours. In a week, it has lost 7.9%.
Rival meme coin Shiba Inu was trading little changed, up 0.04% in 24 hours to $0.00003897. In a week, it has lost 11.04%.
The main winners in the 24 hours on Sunday night were The Sandbox, Terra and Wax, which were among the top 100 coins, according to CoinMarketCap. Sandbox was up 15.47% at $7.52, Terra was up 14.97% at $50.13 and Wax was up 10.79% at $0.7824.
because it matters
Fears of the COVID-19 variant Omicron sent risk assets including the top cryptocurrency plummeting on Friday.
“We’ll definitely find out in the days and weeks ahead, but for now, fear of the unknown will weigh heavily into the weekend and likely into next week,” wrote OANDA senior market analyst Craig Erlam.”
Alternative’s “Crypto Fear and Greed” index noted “fear” at press time. Last week, the index was in “neutral” status.
BTC hit an intraday low of $53,576.74, up nearly 8% from that level at press time. A similar situation happened with ETH, as it dipped below the important psychological threshold of $4,000 to $3,989.97 in intraday trading and rose nearly 9% after a fresh week of trading in Asian markets.
Crypto Twitter was quick to notice the digital asset’s decline and its rebound.
Celsius Network CEO Alex Mashinsky claimed that he bought nearly $10 million worth of BTC and ETH on Sunday. He noted that BTC could retest the $53,000 level, while ETH could see $4,000 as a “short-term bottom.”
CEO of MicroStrategy Inc. on Sunday. MSTR 3.62%
Michael Thaler tweeted that the future is’ not for cowards’. He added the hashtag “#Bitcoin” to the post.
Among the buyers that fell on Sunday was the country of El Salvador, which bought an additional 100 bitcoins, according to its president, Nayib Bukele.
Crypto YouTuber MMCrypto cites Apex Coin’s rally.
On the other hand, data from Dune Analytics suggests that Ethereum’s decentralized finance or DeFi user base has passed the 4 million mark. Note that a user can have multiple addresses.