Trader is bullish on the crypto market given the banking crisis by CoinEdition

by Arthur · March 26, 2023

Crypto trader DonAlt questions why people are currently shorting the crypto market.
The trader believes that the current banking crisis is a bullish sign for the crypto market.
In related news, the total crypto market is consolidating between $1.1 trillion and $1.2 trillion.

The crypto trader and analyst. DonAlt (@CryptoDonAlt), tweeted yesterday regarding Bitcoin (BTC). In the tweet, the cryptoanalyst stated that everything he sees is “disbelief” as he mentioned the extreme divide in the crypto market.

The analyst questioned why people are shorting the crypto market after the current banking crisis, especially after a 9-month “bullish reclaim & range breakout.”

At press time, CoinMarketCap shows that the total market capitalization for crypto is around $1.15 trillion. This is a slight increase of 0.05% in the last 24 hours.

Total Crypto Market Cap (Source: CoinMarketCap)

The global crypto market capitalization recovered above $1 trillion on March 13th after falling below the key level on March 9th. Since recovering above $1 trillion, the total crypto market capitalization has consolidated between $1.2 trillion and $1.1 trillion.

Meanwhile, the majority of the top 10 cryptos by market cap have seen their prices rise over the past 24 hours. The prices of the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH) have risen 0.03% and 0.15% in the last 24 hours. As a result, BTC’s price stands at $27,533.19 at press time while ETH is currently trading at $1,752.92.

Binance Coin (BNB) and Ripple (XRP) are up 0.09% and 2.73% respectively. Currently, BNB’s price is at $324.13 and the transfer token’s price is at $0.4569.

Unfortunately, Cardano (ADA), Dogecoin (DOGE) and Polygon (MATIC) were unable to post 24-hour gains. ADA’s price has decreased 1.64% in the last 24 hours to trade at $0.3559. DOGE and MATIC are trading at $0.07468 and $1.09 after falling 0.47% and 1.76% respectively.

Disclaimer: The views and opinions, as well as all information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for any direct or indirect damage or loss.

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