Crypto Price Today July 14: Bitcoin Price Hits $20,000 , Ethereum Price up by 4%, MATIC & Uniswap Top Gainers

1Most major cryptos traded well in the green zone on 14 July, 2022. According to Coinmarketcap, the global crypto market cap recovered by 2.3% to $892 billion. Latest numbers suggest, total cryptocurrency trading volume in the last day is at $75.51 Billion.

The total volume in DeFi is currently $6.58B, 8.72% of the total crypto market 24-hour volume. The volume of all stable coins is now $67.97B, which is 90.02% of the total crypto market 24-hour volume.

Most major coins were trading in the green today despite the sky high inflations numbers that the US released yesterday. Bitcoin was trading 2% up at around $20,000 while the alt coin king Ethereum was trading near $1100, up 4% from yesterday.

But apart from these flagship coins, there were several other crypto prices which gained a much more in value in the same timeframe. Polygon’s MATIC jumped the highest, rallying over 15% to touch $0.63 value. Along with that, Curve DAO (CRV), Avalanche (AVAX) and Uniswap (UNI) recorded gains of over 11.5%, 11.8% and 7.5% respectively. Thanks to Bitcoin’s rise, the broad base of the crypto market saw gains.

CRYPTO MARKET TODAY AT A GLANCE

Check out latest Bitcoin INR Price , Chart, and Data.

Check out latest Ethereum INR Price , Chart, and Data.

TOP CRYPTO NEWS

1. Celsius files for Chapter 11 Bankruptcy

In other news, crypto lender Celsius has filed for Chapter 11 bankruptcy, becoming the latest in the long line of firms that have been shutting shop amid the crypto bear market. The troubled crypto lender said that its purpose for the voluntary action is to enable a “comprehensive restructuring plan” that benefits all “stakeholders.”

Read more on Celsius Bankruptcy

2. South Africa to regulate crypto as a financial asset

According to South African Reserve Bank, it will regulate all cryptos as financial assets and the final laws and regulations for such a consideration can be expected within the next 12 months. This is being done in an effort to bring about investor protection while at the same time nurture innovation in the space.

3. Polygon picked up by Disney for its Accelerator Program

Polygon was selected as one of the 2022 participants for Disney’s accelerator program. This triggered a massive rally in the projects native crypto MATIC, which surged over 15% as of writing this. According to Disney, the 2022 accelerator crop will focus on building immersive experiences through technologies such as augmented reality (AR), artificial intelligence (AI), and non-fungible tokens (NFTs).

Additional Read: Cardano Vasil Hard Fork Update

GLOBAL CRYPTO MARKET OVERVIEW

Total Crypto Market Cap | Source: Tradingview

The United States announcing its staggering inflation numbers of 9.1%, had sent both equity and crypto market into a whirlwind of activity with no sense of direction. However, after the announcement, the markets seemed to stabilise and even managed to recover slightly.

But broadly speaking, the markets can be expected to fluctuate within a range with Bitcoin barely holding on above $20,000. Any decisive move for Bitcoin would be the primary catalyst to move the overall crypto market in a certain direction. Experts are of the opinion that all possible bad news have already been discounted into the prices of assets and hence we could be seeing some kind of bottoming out of prices right about here.

BITCOIN PRICE TODAY

BTC/USD | Source: Tradingview

In line with the broader market, Bitcoin has been consolidating around the $20,000 level and it seems it will continue the some going forward. Indication suggest a bottoming out at around $19,000, because that price level has been touched thrice in the past month and a half but hasn’t been breached yet.

A breakout over the trundle resistance (orange line) will give Bitcoin some necessary trigger to record some more gains to reach the 50-day moving average and eventually the $28k-30k range (marked in grey). This level is expected to be a stiff hurdle for Bitcoin to pass and probably won’t be able to until the end of the year, unless some major positive news break occurs. If that it broken, the wide $35k-44k range would be another difficult range to cross but once that is crossed Bitcoin may attempt to resume rally towards its last ATH of $69,000.

CRYPTO MARKET: TOP GAINERS TODAY

CRYPTO MARKET: TOP LOSERS TODAY

CRYPTO MARKET: THE WEEK AHEAD

The week ahead for the crypto market is expected to be along similar lines as the past week was. As mentioned before, Bitcoin is expected to jump about the $20,000 levels itself and any major breakout is going to be difficult. However, the DeFi space seems to be recovering gradually as according to DefiLlama, the total-value-locked in different smart contracts across the crypto space has increased by around 2% in the past 24 hours to touch a total of $89.5 billion. However, it is significantly lower than exactly a week ago on 8 July, 2022 when it was around $93 billion so nothing major is happening here either.

Additional Read: Total Value Locked Explained

Prices as of 14th July, 2022

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