MATIC Adds 8% Daily, Bitcoin at Decision Point (Market Watch)

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Bitcoin saw some volatility yesterday following the US GDP announcement, but remains at a key point around $23,000 now.

Most altcoins are calmer today, with ETH, SOL, and XRP slightly down. MATIC and LEO, however, are well in the green.

bitcoin at key point

The rise in the price of Bitcoin since the start of the year has changed the general sentiment in the industry, as shown by the fear and greed index. The metric entered “greed” territory today for the first time in nearly a year.

This came as the cryptocurrency rose in USD value by around 40% in four weeks. The high point of the early 2023 run came earlier this week when BTC soared to $23,800. It became its highest price since September last year.

However, bitcoin did not continue to rise and returned to $23,000. All eyes were on the United States as the latest GDP data was about to come out. The world’s largest economy beat expectations with a 2.9% rise for the last quarter of 2022.

At first, BTC remained calm but slid $500 a few hours later. Nonetheless, it has bounced back to $23,000 as of now, which is a very important level for its short-term price performance.

BTCUSD. Source: TradingViewMATIC, LEO on a roll

Altcoins have also risen impressively since the start of the year. However, most have calmed down daily, with even some retracements such as ETH, SOL and XRP. All of these are down up to 2%.

Binance Coin remains above $300 after a slight daily increase. Cardano, Polkadot and Tron are also slightly in the green.

Nonetheless, Polygon’s native cryptocurrency jumped the most against larger-cap alts. MATIC has added over 8% in one day and is trading above $1. LEO is another notable gainer, rising 8% to $3.8. Chainlink and ApeCoin follow suit, both up 5%.

The crypto market cap is fairly quiet today, holding close to $1.050 billion.

Presentation of the cryptocurrency market. Source: Quantify Crypto SPECIAL OFFER (sponsored) Binance Free $100 (exclusive): Use this link to sign up and receive $100 free and 10% fee discount on Binance Futures for the first month (terms).

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Cryptocurrency charts by TradingView.

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