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Bitcoin bounces back to touch $41,000 mark, Ether in green

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Cryptocurrency price today: On Tuesday, April 19, Bitcoin took a major turn to touch the $41,000 mark for minutes, before settling at $40,000 levels. Bitcoin’s rebound was largely caused by volatile markets. Not just Bitcoin, it’s global Cryptocurrency The market is up more than 4 percent, with all major cryptocurrencies gaining on the day. On the other hand, Terra’s (LUNA) stablecoin, TerraUSD or better known as UST, has overtaken the US Dollar (BUSD) to become the third largest stablecoin by market cap.

Bitcoin Today at the time of writing, the price is up 4.40 percent to trade at $40,739.16, according to the data. Ether price It also rose 4.53 percent to stand at $3,047.80, according to CoinMarketCap data. Bitcoin and Ether, along with other cryptocurrencies, contributed to a uniform rise in the global cryptocurrency market.

“One of the main indicators of the bitcoin price rally lately is the late afternoon rally in the Nasdaq 100 (NDX) index of nearly 80 points. Given that bitcoin is closely correlated with the NDX in 2009, Darshan Bathija, CEO and co-founder of Fuld said. 2022, the cryptocurrency also experienced a late wave in the early hours of April 19.

“The continued high correlation between BTC and NDX shows that the cryptocurrency is very risky. This could be a deterrent to Bitcoin’s recovery as the NDX is 3.5% below the 100-day moving average (DMA) while Bitcoin is currently testing the 100DMA.”

“On the daily 4 hour time frame, BTC has exited a bearish channel pattern. The daily RSI approached 45 as buyers dominated the last two days of trading. Market sentiment regarding Bitcoin has exited the area of ​​intense fear and we can expect more buying momentum to follow. Next resistance is expected at $48,600 and immediate support for Bitcoin is expected at $37,600.”

“Terra’s (LUNA) stablecoin, TerraUSD or better known as UST, has overtaken Binance USD (BUSD) to become the third largest stablecoin by market capitalization. This was reflected in the price of its original token, LUNA, which rose over $92, making more than up 17% in the past 24 hours. Terra recently amassed large amounts of Bitcoin, amounting to nearly $2.4 billion, to support its stablecoin UST.”

Here are the top 10 cryptocurrencies and their prices on April 18, 2022 (data from coinmarketcap.com)

Bitcoin $40,739.16 or 4.40% gain in the last 24 hours

Ethereum $3,047.80 or 4.53 percent gain in the last 24 hours

Assess a loss of $1.00 or 0.01 percent in the last 24 hours

BNB gained $420.50 or 5.19 percent in the last 24 hours

USD Coin 0.9997 or 0.01 percent loss in the last 24 hours

XRP $0.7678 or 4.09 percent over the past 24 hours

Solana $102.00 or 5.11 percent gain in the past 24 hours

Terra $89.16 or 16.07% gain in the last 24 hours

Cardano $0.9309 or a gain of 5.54% in the last 24 hours

The avalanche is $77.66, or 5.70 percent, up in the last 24 hours

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