The Cryptocurrency Market Recovers $133B In A Week, Restoring 16% Of Its Capitalization.

The cryptocurrency market is currently in the green, having recovered more than $130 billion in the previous week.

Surprisingly, the rise in crypto market capitalization comes at a time when there are fears that the industry is in the grip of a cryptocurrency winter.

Despite this, the global cryptocurrency market valuation surged by more than 3.3% in the last day.

Furthermore, according to CoinMarketCap data, it increased from $832 billion on June 18 to $965 billion on June 25, reflecting a $133 billion increase and a 15.99% total surge.

In terms of inflows, the flagship cryptocurrency’s value leads the entire crypto market. Bitcoin (BTC), the digital asset with the biggest market capitalization, is currently trading at $21,392, up 2.29% in the past 24 hours and 10.27% in the previous seven days.

Notably, Bitcoin’s market valuation has risen from $338 billion to $408 billion in the recent week. Despite the resilience demonstrated this week in maintaining a position above such a key barrier above $20,000, the cryptocurrency may face another testing period this weekend.

Below, the support is still showing indications of distress, and a break there might put investors’ faith in the sector to the test.

Despite the continuous volatility in the cryptocurrency market, experts were keeping a careful eye on key market indicators for signs that prices had bottomed out.

In other news, Ethereum, the second-largest asset by market value, has risen back beyond the critical $1,200 threshold, trading at $1,223, up 6.05% on the day and 21.36% in the previous week, with a total market capitalization of $148 billion.

At the time of writing, leading cryptocurrencies like as Cardano (ADA), Solana (SOL), and Shiba Inu (SHIB) were all trading in the green.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Patrick

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