Crypto markets rally as Bitcoin climbs back over $31k |

Crypto markets rally as Bitcoin climbs back over $31k |

The cryptocurrency markets are in a bullish mood this morning, with Bitcoin back over $32k.

Register now on Binance, add 50$ and get 100$ bonus voucher!

The “cryptocurrency news” is a trending topic on the internet. The cryptocurrency markets have rallied as Bitcoin has climbed back over $31k.

Crypto markets rally as Bitcoin climbs back over $31k |

👋 Do you want to collaborate with us? is looking to fill a few vacancies!

After nine weeks of losses, the crypto market made a rare recovery on Monday, May 30. The increase, according to Juan Pellicer, Research Analyst at Into The Block, may be connected to the current stock market rebound.

“I believe the current BTC price motion is heavily impacted by the recent market rebound in the United States. SP has rebounded about 10% from last week’s lows, indicating that a portion of the market believes we are in for a quick recovery following the recent steep downturn.”

The correlation between Bitcoin and the stock market had decoupled last week as the S&P recorded gains of 6.94% while Bitcoin closed the week down 8.9%. Unlike traditional markets, the crypto industry never sleeps, and Bitcoin climbed 3% over the weekend. However, as markets opened Monday morning, it was not just Bitcoin that began to rally along with a further recovery in stocks.

As global markets have weakened, Bitcoin has been moving in lockstep with large tech equities. Pellicer believes that the market, at least in certain sectors, is poised for a “V-shaped” rebound. Crypto bulls would welcome this, with Bitcoin down over 50% from its peak and numerous altcoins down over 70%.

Investing mood throughout the world

Cryptocurrencies have traded like tech stocks rather than as a separate asset class and inflation hedge. Incidents like the Terra meltdown, as well as worries about the Ethereum merger and enacting legislation, have only contributed to larger global economic concerns.

The conflict in Ukraine, rising prices, potential food shortages, and rising interest rates have all contributed to a poor outlook for crypto investments. With a score of minus 10, the fear and greed index now implies that we are approaching peak dread.

Crypto markets rally as Bitcoin climbs back over $31k |Alternative.me is the source of this information.

Dollar’s worth is eroding.

It’s worth mentioning that the strength of the dollar has a role in determining the price of cryptocurrencies. Stablecoins like USDT, BUSD, and USDC are used to value most cryptocurrencies against the dollar. The value of cryptocurrencies will grow organically when the value of the dollar falls.

Register now on Binance, add 50$ and get 100$ bonus voucher!

The divergence of the $DXY and Bitcoin may be seen in the graphic below. The price of Bitcoin has had a negative connection with the DXY since 2021, as the DXY has grown. Bitcoin is also increasing against other major currencies, confirming the breakthrough, which is good news for the crypto sector.

Crypto markets rally as Bitcoin climbs back over $31k |TradingView is the source of this information.

Obtain a Competitive Advantage in the Crypto Market

Join Edge to get access to our own Discord community, as well as more exclusive material and commentary.

Analyses of the whole chain

Snapshots of prices

a little more context

For just $19 a month, you can become a member right now. Examine all of the advantages.

The “future of cryptocurrency 2021” is a good time to invest in cryptocurrencies. The market has been rallying and Bitcoin has climbed back over $31k.

  • will cryptocurrency crash
  • does crypto trade 24/7
  • why did bitcoin spike

Register now on Binance, add 50$ and get 100$ bonus voucher!

More Stories
A Closer Look at Key Developments Over the Last Week – Blockchain Bitcoin News