WMA: Bitcoin Recovers $20K, Altcoins Thrive, Fed Calls for Urgent Crypto Regulations

Get the weekly summary of crypto market analysis, news, and forecasts!

This Week’s Summary

  • The Crypto Market ends the week at a total market capitalization of $926 billion.
  • Bitcoin has increased by nearly 10% this week.
  • Ethereum gained almost 11% over the past seven days.
  • XRP is up by nearly 4% this past week.
  • Almost all altcoins are trading in the green, with very few exceptions.
  • The DeFi sector added over $0.5 billion to the total value protocols (TVL), now standing at nearly $40.59 billion.

Crypto Trends 04 – 10 July 2022: Market Analysis and Performance

The crypto market is making a good start to July, with visible recoveries for most of its assets. Even the market capitalization has increased by $50 billion this week. However, not everything is rosy in crypto as authorities call for regulations and major projects face fraud charges.

Bitcoin climbed above the $20,000 level, primarily a psychological threshold for the king crypto. It’s been a rough Q2 for Bitcoin, usually driving the market far beyond expectations. This week, BTC surged even past $21,000. However, it seems that it is not ready yet for a higher leap. So, it’s wise to remain around the $20,500 level, where it is currently trading.

Ethereum also shows a slight recovery following an 11% increase this week. The second crypto in command has been free-falling for months. However, when it seems to crash irreversibly low, the coin recovers. It now closes trading at around $1,150 and waves away the fear of falling below $1k for at least another week.

Altcoins & DeFi

The altcoin sector is enjoying one of its best periods in months. Most assets are trading in the green. However, unlike Bitcoin, an altcoin boasting a double-digit value boost is something. For example, Solana is up 12%, just like Shiba Inu. Meanwhile, Cardano has increased by 3% and XRP by 4%. Elsewhere, Dogecoin is up by 2%, Uniswap by 26%, and Polygon by no less than 22%.

The Metaverse sector is also rejoicing as most of its assets avoided a blood bath this week. For instance, ApeCoin is up by 4%, and Axie Infinity decreased by almost 5%. Meanwhile, Decentraland surged by nearly 6%, and The Sandbox gained 13%. The only one on the losing end of the stick is Theta Network, with a 1% drop.

The DeFi sector added over $0.5 billion to the total value protocols (TVL), now standing at nearly $40.59 billion.

Crypto Market Analysis – What’s in the News?

  • Fed vice-chair calls for “urgent” crypto regulation following the crypto market’s collapse.
  • Celsius Network faces fraud charges amid liquidity strains.
  • Mike Novogratz has kept his Luna tattoo despite Terra’s collapse.

Next Week’s Crypto Market Forecast

BUY NOW

The crypto market is finally closing a week without submerging in a blood bath. All its assets are far from recovering the losses they registered in recent months. After all, they are still firmly under the bears’ paws. Nevertheless, the road to full recovery has to start somewhere. Let’s hope this uptrend will continue next week as well.

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