Weekly Crypto Digest: Bitcoin once again breaks the $20,000 barrier on the upside

According to coinmarketcap.com, the total crypto market cap currently stands at 969 billion and now numbers 22,316 coins.

Bitcoin’s market dominance has increased slightly and currently stands at 40.5%, while Bitcoin’s market cap is currently $401 billion. Ethereum’s (ETH) market dominance has also risen to 19.3%, while the No. 2 coin’s market cap now stands at $187 billion.

Bitcoin breaks $20,000 barrier again

The current value of Alternative.me’s Fear & Greed Index also drew the positive line and less ‘Fear’ was measured. The counter is still in the ‘Fear’ zone at 45 although there is now less ‘Fear’ than a month ago when the value indicated 29.

The positive trend on the crypto market cap was led by an enthusiastic Bitcoin price. Total crypto market capitalization noted just under $1,000 billion, a level we have not seen for months.

The dust clouds seem to have settled a bit around FTX. FTX’s new management found another sloppy $5 billion in crypto assets somewhere. Milder inflation figures also gave the crypto market a boost, with Bitcoin even managing to breach the $20,000 upside mark again for the first time since early November last year. Initial resistance lies at $21,000 and above that awaits resistance at $25,000, the top level from the summer months of last year. In short, the positive tone in the cryptocurrency market has now been set, and the important thing now is to continue this positive trend.