On Sept. 23, bullish optimism was on the rise in the cryptocurrency market as prices continue to recover after this week’s volatility. This week’s volatility was caused by regulatory pressure on crypto sector, FOMC meeting on Fed’s interest rates hikes and monetary policies, and fears that the Evergrande situation could ripple out to affect global financial markets.
TradingView and Cointelegraph Markets Pro data show that BTC prices spiked to above $44,800 on Thursday. Now, they are aiming at flipping the $45,000 support level.
Chart for BTC/USDT 4 hours TradingView
The timing of the BTC price spike coincides with Twitter’s announcement that users can now tip others with Bitcoins thanks to Strike integration. Strike is a payment app built on the Lightning network and allows for low-cost Bitcoin transactions.
BREAKING NEWS: Twitter launches tipping functionality for the Bitcoin Lightning Network on iOS
— Pomp (@APompliano) September 23, 2021
The momentum in the cryptocurrency ecosystem was already gaining steam with top altcoin Ether (ETH), back above $3,100. Data shows that Ether reserves on the major cryptocurrency exchanges have fallen to an all-time low.
Fully rebounding ltcoins
Altcoin is exploding as the competition heats up in layer-one. Projects like Terra (LUNA), Avalanche(AVAX) or Cosmos (ATOM), are making price gains and attracting new users due to their lower transaction costs and quicker processing times.
Everyday cryptocurrency market performance. Source: Coin360
Celer (CELR), the top gainer, is now $0.14 after its price surge of 52% to an all-time high. Celo (CELO), has posted a 24% gain. It trades at $7.80.
Notable performances also include a 23% increase for COTI, 21% for Tezos(XTZ), and a 20% rally for Origin Trail (TRAC).
The total cryptocurrency market is now worth $1.999 trillion, and Bitcoin’s dominance rate at 42%.
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