Mooners and Shakers: Crypto market surges as Bitcoin cracks $47k and analysts target higher levels
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“To the moon”. “Pamp it”. “LFG”… etc, etc. All the euphoric crypto-slang phrases are getting a run today, and with decent reason – Bitcoin and most major altcoins have been on something of a tear over the past 24 hours.
Urban Dictionary, by the way, has three different meanings for the word “pamp“. It can describe a pumping crypto, an “extreme pimp” and, um, a toilet-based dump. We’ll run with the first option.
— Евгений (@prisoner2028) March 28, 2022
#Bitcoin at $47k
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) March 28, 2022
— The 100x Gems 💹🚀 (@The100xGems) March 28, 2022
With the overall crypto market cap at about US$2.24 trillion, up roughly 6.5% from this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.
The big daily winners, however, are layer 1 blockchains Solana (SOL), Cardano (ADA) – actually up a whopping 40% over the past week thanks to its Coinbase staking news among other things, and Polkadot (DOT).
So, how’s the old Crypto Fear & Greed Index market-sentiment tracker going today? As suspected, it’s finally ticked back into green for Greed…
But not to kill the mood too much, the recently bearish trader “Roman” is still erring on the side of caution, at least until he sees some larger volume on the… “pamp”. Just something to keep in mind before you FOMO into every other dog coin going.
Don’t fomo. Every chart is overbought. Wait for a pullback to prior resistance and see if it can hold as new support. Around 45.8k.
— Roman (@Roman_Trading) March 28, 2022
Rekt Capital, meanwhile, reckons Bitcoin has now made a solid return to a higher range – US$43,100 to $52k.
— Rekt Capital (@rektcapital) March 28, 2022
And here’s a chart possibly worth paying some attention to as well, posted by young American crypto analyst Will Clemente (see tweet below). It shows Bitcoin’s “moving average convergence divergence” (MACD) indicator.
WTF’s that then? Investopedia gives a good breakdown, but the TLDR is: it’s a momentum indicator that helps show whether an asset’s bullish or bearish movement in price is on a strengthening or weakening trend.
That green bar down the bottom right… the start of something?
Sweeping a market-cap range of about US$25.2 billion to about US$1.17 billion in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.
• Filecoin (FIL), (mc: US$4.6 billion) +26%
• Waves (WAVES), (mc: US$3.7 billion) +18%
• Shiba Inu (SHIB), (mc: US$15.9 billion) +18%
• Gala (GALA), (mc: US$2.17 billion) +15%
• EOS (EOS), (mc: US$2.9 billion) +15%
• VeChain (VET), (market cap: US$4.96 billion) -6%
• Zilliqa (ZIL), (mc: US$1.5 billion) -4%
And that’s about it for the mildly dumpy action in this group of cryptos, at the time of writing.
Moving below the crypto unicorns (in some cases well below), here’s just a selection catching our eye…
• Fractal (FCL), (market cap: US$16 million) +90%
• Cult DAO (CULT), (mc: US$16m) +88%
• FloorDAO (FLOOR), (mc: US$36.5m) +55%
• Hegic (HEGIC), (mc: US$41m) +50%
• Gnosis (GNO), (mc: US$971m) +48%
• StackOS (STACK), (market cap: US$34 million) -18%
• Universe.XYZ (XYZ), (mc: US$47m) -16%
• Maple (MPL), (mc: US$202.5m) -11%
• Olympus (OHM), (mc: US$538m) -7%
• MXC (MXC), (mc: US$250m) -6%
Terra bought another $130M Bitcoin today.
This brings their total #Bitcoin reserve acquisitions in the last 6 days to $0.9B
Only $9.1B to go pic.twitter.com/FmrCudZfAE
— Charles Edwards (@caprioleio) March 28, 2022
Hey @WarrenBuffett, do you still think bitcoin is rat poison squared?
Just checking in on the evolution of that statement now that inflation is at a 40+ year high..
— Tegan Kline (@theklineventure) March 28, 2022