Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

The vast majority of retail client accounts lose money when trading CFDs.

You should consider whether you can afford to take the high risk of losing your money.

Important Notice - Fraud awareness
Important Notice - Scam alert
The vast majority of retail client accounts lose money when trading CFDs.
Important Notice - Fraud awareness
Important Notice - Scam alert
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
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Crypto market cap reclaims $1 trillion as Bitcoin & altcoins recover

Cryptocurrencies witnessed a large in-flow of capital within the last seven days, bringing its total market capitalization back above the 1 trillion standard weightings. According to the data from CoinGecko, the total market capitalization for the crypto market is $1.02 trillion. Bitcoin and altcoins have therefore managed to stay positive within the last seven days.

Analysts believe the crypto market seems to recover after a prolonged fall. The high US inflation recorded last week pushed investors into risky assets once more as a means of hedging against the rising inflation.

Bitcoin seems to be leading the way and pointing other coins on the path of recovery. The price attained a new high yesterday at $22,945, marking an over 20% growth so far from a low created in 2022 at $17,600.

Altcoins are not left out of the picture also. Ethereum, for its part, has made an over 60% increase after creating a new low in 2022 at $898. Ethereum has currently created a new high yesterday at $1,630. The most famous native token, the Binance Coin, has shown strong resilience within the last seven days. The price attained a new high yesterday at $264, marking an over 80% increase from the low created in 2022 at $190. Also, the Cardano coin has recorded more gains too. Cardano created a new high yesterday at $0.501, marking an over 36% increase from the low made this year at $0.41.

Amidst these recoveries made so far in the crypto market, the buying volume of Bitcoin and altcoins continued increasing daily, suggesting a revival of interest in the risky assets.

The market is consolidating, with prices replacing the new highs created yesterday. Analysts consider the current trend a bear market relief pump, suggesting that another significant dip might be near. The Fed is set to have its next meeting a few days from today. In which case, they will be expected to hike the interest rate, which will probably affect the crypto market once more.

Best cryptocurrency CFDs to trade as the market recovers

Traders are currently beset with the question of which coin to trade during this period to make the highest profits. Of course, coins with high market capitalization and intense volatility constitute the first viable option for trading. We have therefore listed these coins below:

Is the current crypto market recovery sustainable?

Many investors have been asking if the bear market is over and if it is now an excellent time to buy long. Responding to this position, many experts believe that the bear market is not yet over, so investors must exercise caution to avoid excessively taking their longing positions. A primary reason given by analysts to support this fact is the expected interest rate hike by the Fed during their next session in the coming week. Interest rate hike no doubt has been one of the major causes of the bear market, and further interest rate hiking next week will send the crypto market into dust again. Once stability has been attained, this could lower inflation and stop the Fed's unabated interest rate hike for three consecutive months.

Last Updated: 19/07/2022

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.


 

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