{"id":19044,"date":"2022-06-06T09:16:19","date_gmt":"2022-06-06T09:16:19","guid":{"rendered":"http:\/\/egrowonline.com\/?p=19044"},"modified":"2022-06-06T09:16:19","modified_gmt":"2022-06-06T09:16:19","slug":"bitcoin-ethereum-jump-5-as-crypto-market-rebounds","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=19044","title":{"rendered":"Bitcoin, Ethereum Jump 5% as Crypto Market Rebounds"},"content":{"rendered":"


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The prices of Bitcoin<\/a><\/span> (BTC) and Ethereum<\/a><\/span> (ETH) saw a 5% jump over the last day, giving investors renewed hopes for a much-anticipated market recovery after a brutal sell-off<\/a> in May.<\/p>\n

Currently, Bitcoin is changing hands at $31,289, up 5.2% over the day, according to data provided by CoinMarketCap<\/a>.<\/p>\n

The leading cryptocurrency last traded at these levels on June 1, when it entered a downward correction<\/a> that dragged the price of BTC from above $32,000 below $30,000 for the most part of the weekend.<\/p>\n

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Despite the latest spike, Bitcoin is still down more than 34% since the start of the year, with the Fear & Greed Index<\/a>\u2014a combination of variables measuring market sentiment\u2014currently standing at 13, which corresponds to \u201cextreme fear.\u201d<\/p>\n

Ethereum follows the pattern<\/h2>\n

The price of Ethereum has meanwhile just hit an intraday high of $1,889, as it went up almost 6%, per CoinMarketCap<\/a>.<\/p>\n

The second-largest cryptocurrency still faces a massive uphill battle to recover from the losses since the start of the year when it traded above $3,800.<\/p>\n

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Ethereum’s lackluster price action is compounded by a massive sell-off in the DeFi<\/a><\/span> space. Over the last month, investors withdrew more than $40 billion from ETH-based apps, shrinking the total value locked (TVL) from over $113 billion on May 5 to $71.04 billion as of today, according to data from DeFi Llama<\/a>.<\/p>\n

Elsewhere, major layer 1-networks Cardano<\/a><\/span> (ADA) and Solana<\/a><\/span> (SOL) both posted double-digit gains over the past 24 hours as their tokens rallied 13% and 11.4%, respectively.<\/p>\n

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The prices of Bitcoin (BTC) and Ethereum (ETH) saw a 5% jump over the last day, giving investors renewed hopes for a much-anticipated market recovery after a brutal sell-off in May. Currently, Bitcoin is changing hands at $31,289, up 5.2% over the day, according to data provided by CoinMarketCap. The leading cryptocurrency last traded at […]<\/p>\n","protected":false},"author":1,"featured_media":19045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[50,62,158,2605,219,1209],"class_list":["post-19044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-crypto","tag-ethereum","tag-jump","tag-market","tag-rebounds"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/shutterstock_6621196571-gID_5.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19044"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19044\/revisions"}],"predecessor-version":[{"id":19046,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/19044\/revisions\/19046"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/19045"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19044"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}