Cryptos Today: Bitcoin Reclaims $21K and Paves the Way for altcoins; Solana advances 10% and Celsius shoots 50%

After high volatility over the weekend, Bitcoin (BTC) registers the second day of high and returns to the level of US$ 21,000 this Tuesday (21), the day American stock exchanges returned after a holiday in the United States. At 7:05 am, the cryptocurrency was trading at $21,180, up 2.5% over the last 24 hours. Second most valuable crypto, Ethereum (ETH) is up 3% to $1,158. Among the cryptos with the highest market cap, however, the one that climbs the most today is Solana (SOL), up 10% in 24 hours at $38.

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The rise of Bitcoin brings a dose of optimism to investors, who decide to take a risk in smaller altcoins. The highlight of the day is Celsius Network (CEL), the currency of the eponymous company that froze withdrawals just over a week ago. The token soars 50.4% in a day after the company repays a $10 million loan on the DAI stablecoin to the Compound (COMP) protocol.

Celsius has not yet given a timeline for releasing users’ money and says regaining its liquidity “will take time,” but the market appears to have calmed down with a recovery plan put forward by Simon Dixon, one of the company’s early investors.

Even though BTC offers some relief and encourages risky bets on altcoins, analysts are still urging caution at this point.

“Bitcoin is still a matter of concern as investors flee the cryptocurrency world in their race away from risky assets,” wrote Susannah Streeter, senior investment and markets analyst at financial services firm Hargreaves Lansdown.

“The HODLer mentality [investidor que compra e segura cripto por um longo período] is really being put to the test and those who haven’t given up may be tempted [a desfazer suas posições],” wrote Craig Erlam, senior market analyst at brokerage Oanda.

Streeter of Hargreaves Lansdown noted that while cryptos have suffered from “extreme volatility in the past, indications are that this decline may not be reversing anytime soon and that a crypto winter may be setting in.”

One of the signs of a prolonged winter in the cryptocurrency sector would have been Bitcoin’s drop below the previous high cycle high of just under $20,000 in December 2017 – it was the first time such a pullback had been recorded. since the digital currency reached at least $10 billion market cap and became more relevant as an asset class.

  • Watch: Why Three Arrows Capital Fund Threatens Bitcoin and Keeps Investors Sleepless?

In participation yesterday in Cripto+, trader and expert in graphic analysis Vinícius Terranova said that Bitcoin remains hostage to global markets and, therefore, the history of the cryptocurrency may be less important this time.

“The average of all down periods during the bear market on SPX is 42%, and people are still far from that. This makes me believe that Bitcoin will continue to follow. As long as the global market doesn’t recover, I don’t expect the crypto market to go.”

On the other hand, analysts at Transfero point out that the price in the region of US$ 20 thousand could be an opportunity for investors who position themselves with a long-term horizon. “Despite being in a downtrend, the 200 moving average and previous tops in the $20,000 and $14,000 regions are relevant long-term supports, so it is possible that there will be a fight between buyers and sellers in this region for a a certain moment”, points out the Brazilian company in a report.

Check out the performance of the main cryptocurrencies at 7:05 am:

cryptocurrency Price Change in the last 24 hours
Bitcoin (BTC) US$ 21,180.71 +2.5%
Ethereum (ETH) US$ 1,158.04 +3%
Binance Coin (BNB) US$ 222.08 +4.6%
Cardano (ADA) US$ 0.499732 +2.6%
XRP (XRP) US$ 0.328215 +1.4%

Cryptocurrencies with the biggest gains in the last 24 hours:

cryptocurrency Price Change in the last 24 hours
Celsius Network (CEL) $1.41 +50.4%
Synthetic (SNX) $4.46 +30.6%
Ziliqa (ZIL) US$ 0.04210404 +23%
Waves (WAVES) $5.58 +17.9%
Elrond (EGLD) US$ 63.08 +12.9%

Cryptocurrencies with the biggest drops in the last 24 hours:

cryptocurrency Price Change in the last 24 hours
Flex Coin (FLEX) $4.68 -1.5%
Helium (HNT) $10.95 -1.3%
DeFiChain (DFI) $1.04 -0.8%

Check out how cryptocurrency ETFs closed in the last trading session:

ETF Price Variation
Hashdex NCI (HASH11) BRL 17.25 -1.98%
Hashdex BTCN (BITH11) BRL 24.50 -1.6%
Hashdex Ethereum (ETHE11) BRL 16.77 +2.19%
Hashdex DeFi (DEFI11) BRL 15.99 +9.44%
Hashdex Smart Contract Platform FI (WEB311) BRL 17.01 +5.19%
QR Bitcoin (QBTC11) BRL 6.50 -1.51%
QR Ether (QETH11) BRL 4.16 +3.22%
QR DeFi (QDFI11) BRL 3.01 +4.87%

See the main crypto market news for this Tuesday (21):

Cardano delays update due to code bugs

Cardano’s (ADA) development lab Input Output (IOG) has delayed the release of the “Vasil” update to the blockchain testnet due to technical issues, the team said today.
Promised for yesterday, the Vasil update would increase Cardano’s scaling capabilities. Now the change is scheduled for the end of June, also on testnet.

Upgrading is a hard fork, a process in which a blockchain validates and produces new blocks with new predetermined rules in place of old ones.

“The IOG engineering team is extremely close to finalizing the main work, with only seven bugs still pending to complete the hard fork work, with none currently rated ‘severe’,” the developers said.

Ukraine sells $100,000 NFT to fund war effort

Ukraine sold CryptoPunk #5364, an NFT that the country received as a donation in early March during a fundraiser to fund the war effort against Russia. Alex Bornyakov, the country’s deputy minister of digital transformation, announced the sale of the digital asset yesterday via Twitter.

The NFT was sold to an anonymous buyer for 90 ETH, worth approximately $100,000. The NFT, however, was worth up to $260,000 when it was transferred to Ukraine’s Ethereum wallet in March, before the price of ETH began to drop significantly.

In total, Ukraine has raised more than $135 million in crypto donations since going public in February. Of these, $6.75 million came from the sale of a Ukrainian flag in NFT format.

UK goes back and rejects law that hit wallets like MetaMask

The UK government backed out of implementing a law that required all senders of cryptos to private cryptocurrency wallets to collect recipients’ identifying details, a document published by the Treasury stated.

Based on input received in a public consultation, the Treasury stated that it would make no sense to create a data collection rule for non-hosted or private wallets. This type of wallet allows the user to take personal custody of their crypto assets. The most famous in the world is MetaMask.

“Rather than requiring the collection of payee and originator information for all unhosted wallet transfers, cryptocurrency companies are expected to collect this information only for transactions that pose a high risk of illicit origination,” the document pointed out. .

Exchange Bybit announces layoffs

Cryptocurrency exchange Bybit announced yesterday that it is preparing to lay off some of its employees, citing “extensive measures to cut costs”.

“We are exploring a way to remove overlapping roles and create smaller but more agile teams to improve our efficiency,” the exchange told CoinDesk.

According to Chinese journalist Colin Wu, citing people familiar with the matter, layoffs at Bybit can reach up to 30% of employees.

in conversation with the InfoMoney CoinDesk just over a week ago, during Consensus 2022, in Austin, USA, Bybit representatives for Brazil had stated that the moment is delicate, but that the company would only “reduce the pace of hiring”.

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