The global crypto market has seen a revival of gains over recent hours. The fluctuations for Bitcoin, Ethereum, and others continued as the market is still in chaos. There has been a continuation of alternating positive and negative trends in the market. The performance of the market has been affected by the negative changes which scare the investors. A continuing bullishness can strengthen the market, helping it cross the current resistance levels.
Ex-CEO of FTX Sam Bankman-Fried has been arrested in the Bahamas and is expected to be extradited to the US. SBF was located and taken into custody by the Royal Bahamas Police on Monday at the request of the US government. Damian Williams, the US attorney of the Southern District of New York, disclosed the news regarding the arrest of SBF on Twitter. According to official sources, the arrest is based on a sealed indictment.
The indictment of SBF will be opened on Tuesday, according to Damian Williams. Furthermore, as per a statement from the Bahamian Prime Minister, Philip Davis, they are interested in bringing to justice all persons associated with breaking the public trust in the FTX case. He has assured that any person breaking the law and public trust in the mentioned case will be arrested and tried accordingly. The collapse of FTX caused a drain of billions of dollars across the globe.
Here is a brief overview of the current market situation analyzing the performance of Bitcoin, Ethereum, and others.
BTC trading at $17.15K
The recent Bitcoin metrics show that selling pressure may be reaching its exhaustion. The on-chain data shows that Bitcoin binary CDD has been going down recently. The mentioned change is a sign that selling pressure may be getting exhausted in the market.
The recent changes for Bitcoin show a rise in its value. The latest data shows that it has added 1.05% over the last day. The weekly data for Bitcoin shows that it has added 0.56%.
The price value of BTC is currently in the $17,156.12 range. The market cap value of Bitcoin is estimated to be $329,948,615,081. The 24-hour trading volume of Bitcoin is about $18,402,563,990.
ETH resumes bullishness
Ethereum Name Service DAO is voting to elect stewards to helm three working groups. The stewards will handle the operations of sub-groups within the ENS DAO for a six-month period. The mentioned period will start from January 2023.
The performance of Ethereum has also shown a positive trend over recent hours. The latest data shows that it has added 0.97% over the last day. The seven-day data shows that it has added 0.21%.
The price value of ETH is currently in the $1,268.78 range. The market cap value of this coin is estimated to be $155,265,173,028. The 24-hour trading volume of the same coin is about $4,885,454,679.
TRX in losses
Tron has been facing losses despite the fact that it has made attempts to turn bullish. The latest data shows that it has shed 0.87% over the last day. The seven-day data shows that it has added 0.04%. The price value of TRX is currently in the $0.05335 range.
The market cap value of Tron is estimated to be $4,911,619,925. The 24-hour trading volume of this coin is about $252,471,733. The same amount in its native currency is about 4,731,147,172 TRX.
AVAX regains momentum
Avalanche has also regained momentum as the influx of capital improved. The latest data shows that it has added 0.03% over the last 24 hours. The weekly performance shows that it has shed 5.14%. The price value of AVAX is currently in the $12.95 range.
The market cap value of Avalanche is estimated to be $4,021,789,591. The 24-hour trading volume of this coin is about $125,171,165. The circulating supply of the same coin is about 310,634,498 AVAX.
Final Thoughts
The global crypto market has continued to alternate between positive and negative trends. The performance of Bitcoin, Ethereum, and others shows a dominant trend of bullishness. As the market has performed well, there has been an increase in the influx of capital. The improvement has also helped the global market cap value improve as it is estimated to be $849.05 billion.
