Digital currency markets saw some slight losses on Friday morning as a large number of cryptocurrencies posted significant gains the day before. Bitcoin fell to a low of $ 60,042 during the early morning trading sessions, losing 3% in the past 24 hours.
Crypto markets are losing some value after warming up the day before
Bitcoin (BTC) has fallen in value during the most recent trading sessions as the price per BTC dropped from $ 63,299 to $ 60,042 and lost 5% in value. However, the price bounced back a hair and BTC is currently trading hands between $ 60,900 and $ 61,100 per unit.
BTC is up 3.86% today and 2.52% this month. The second largest market cap today is ethereum (ETH) and each coin trades at $ 2,374 per unit. ETH peaked during Thursday night’s trading sessions at $ 2,532 per ether.
Binance currency (BNB) is down more than 5% today as it traded at $ 542 per unit last night and today it trades for $ 522. XRP has made phenomenal gains in the last 48 hours and on April 14th XRP hit $ 1. 94 per unit. Currently, XRP has lost some of those gains and each coin trades for $ 1.57 per coin. Cardano (ADA) is down more than 3% today and each ADA is trading at $ 1.39 per token.
The last contenders in the leading pack of top ten cryptos are polkadot (DOT) for $ 41.40, dogecoin (DOGE) for $ 0.30, uniswap (UNI) for $ 35.92 and bitcoin cash (BCH) for $ 894 per unit. Both dogecoin and bitcoin cash (BCH) have made significant 24-hour gains as DOGE is still up 130.58% and hitting new highs. BCH is up 7.45%, reaching a high of $ 954 on global exchanges last night. At the time of publication, bitcoin cash trades at $ 874 per coin and has a market value of $ 16.98 billion.
Bitcoin recommends more than half of $ 2.1 trillion, rest of the market is 9,261 cryptocurrencies
During last night’s evening trading sessions, crypto values had risen significantly in value. The full cryptocurrency market cap even surpassed Apple’s valuation (AAPL $ 2,258T). On Friday, however, the crypto economy is resting just below AAPL at $ 2,147T after a number of coins have lost some value. Anton Chashchin, managing partner at Cex.io Prime Trading, says the rising value of the crypto economy shows just how powerful these new assets can be.
“Such developments have made cryptocurrencies a full-fledged asset class,” Chashchin said. “We are increasingly seeing corporate, institutional and high net worth investors turning to crypto as a highly lucrative alternative investment opportunity. The proliferation of these savvy investors looking for reliable partners will only try to further legitimize the industry and strengthen the market. “
Crypto derivatives markets are signaling some moves that are moving forward
Yesterday, Pankaj Balani, CEO of Delta Exchange, told Bitcoin.com News that in our update there is a 40% chance that BTC prices could tap into $ 70k by the end of May, after Mike Novogratz warned of a “wash-out”. of the crypto market. In a conversation with Balani on Friday, the derivatives exchange CEO explained the method behind his predictions and also discussed ETH prices.
“The options market is pricing a 40% chance at $ 70,000 and 31% at $ 58,000 at the end of May,” Balani wrote. After the recent spike in bitcoin, the shorter implied volatility (April, May) is starting to trade higher and is only slightly shorter than that of June and September. The market seems to be charging a lot of movement here and we can expect realized volatility to increase further, ”added the exchange executive.
Pankaj Balani also shared his views on ethereum (ETH) prices by looking at data from this week’s derivatives market action.
“The options market price ETH at $ 2,600 with a probability of 46% and at $ 2,100 with a probability of 29% for the month of May,” Balani told Bitcoin.com News. Most of the contracts traded today are the $ 2,300 and $ 2,200 calls. There is a lot of demand to add to upward calls on Ether in the short to medium term. Realized volatility has overtaken implied volatility and skew of calls about wells remains high, ”he added.
What do you think of the crypto market action on Friday? Let us know what you think about this topic in the comments section below.
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