Cryptocurrencies Today: Bitcoin and Ethereum Rise Again After Correction Day; Germany Removes Russian Darknet And Seizes 543 BTC – Cryptocurrencies

After a correction at the start of the week, the cryptocurrency market is again gaining ground and training a rally on Tuesday morning (5) in the face of a continuing wave of optimism among investors regarding the Bitcoin price (BTC) and basically, Ethereum (ETH).

BTC rebounded to $46,591 in the early hours of the day, up 1.5%, while ETH reclaimed the $3,513 level, trading 1.2% higher over the last 24 hours.

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“BTC is exiting exchanges at a rate of over 96,000 BTC per month, implying a strong backlog,” analysts Glasnod wrote in a report released yesterday.

Small and large business owners have accumulated bitcoins especially after Luna Foundation Guard (LFG), the organization that manages the resources of the Terra Project (the moonHe bought over 30,000 BTC last week.

However, the increase in demand for BTC must continue to support the price recovery. “A breakout of the 200-day moving average is needed to confirm the upside,” wrote Alex Kuptsikevich, analyst at FxPro. “A breakout of the $45,000 to $48,000 range could signal the start of a broader trend.”

Cryptocurrency exchange QCP Capital bets on a long-term rally as “Macroeconomic factors pressure the markets while supporting LFG [com compras]”.

“We believe that cryptocurrency prices will rise further in the second half of the year and any dips will be met with confident buying.”

Investors are still more optimistic about the world’s second largest cryptocurrency. Ethereum is up 28% in the last month, compared to a 14% increase in Bitcoin, which indicates an upward trend over the latter.

Behind the move, there is an expectation that the cryptocurrency still has plenty of room to rise if it ETH 2.0 updatescheduled for the end of June, will work.

According to experts, traders began to sell positions that were opened to protect against a fall.

“The slope of the seven-day options is around -8 pips, while BTC is only -4 pips, although the implied general month-to-month volatility between ETH and BTC is pretty close,” Magadini told CoinDesk.

For those looking to buy swings, this means it’s worth [opções de compra] Short term ETH calls are very cheap compared to similar BTC calls. “

As usual, the good performance of Ethereum paves the way for the emergence of other cryptocurrencies, known as altcoins. Today, the highlight is Selo (CE), which rose by 24.7% after announcing an investment of $20 million to promote the development of technology-compatible projects.

On the downside today, the worst performing waves (waves), the cryptocurrency that surged in March but is down 22% today Amid suspicions of fraud in the valuation of a stablecoin. On the other hand, Steben (GMT) rose strongly due to the spread of a The game that pays the user to do exercisesby 5.8%.

It is unlikely that the altcoin rally that began last week will slow for the time being. “The entire market is collapsing, so we finally have a chance to have a bull market, with a lot of altcoins exploding,” explained trader and investor Vinícius Terranova, who participated in Cripto+ yesterday.

To the expert, several technical indicators point to the possibility of a bullish season among smaller cryptocurrencies, indicating that investors are shifting capital from Bitcoin to make more profit on less developed projects.

• Watch: Elon Musk and Altcoin Season: Watch ETH, AAVE, DOGE, SOL, and More Crypto Ratings

Check out the performance of major cryptocurrencies at 7:15 am:

Cryptocurrencies with the biggest gains in the last 24 hours:

Cryptocurrencies with the biggest drop in the last 24 hours:

Check out how the cryptocurrency ETFs closed in the last trading session:

Check out the most important cryptocurrency market news for Tuesday (5):

Germany shuts down illegal Russian market, seizes $25 million in bitcoin

German authorities confiscated $25 million worth of Bitcoin when they shut down Hydra Market, which was said to be one of the largest illegal darknet markets in the world.

The Cybercrime Office of the Frankfurt Public Prosecution Office and the Federal Criminal Police have seized 543 BTC obtained from the site’s servers, according to a statement issued today.

Police found 17 million customers and 19,000 seller accounts. Hydra Market is likely the highest among the illegal markets in the world, according to the statement. In 2020, the market income was 1.23 billion euros.

The site also had a built-in Bitcoin privacy mashup, which made it difficult to track transactions.

Research shows that Brazil is a pioneer in the adoption of cryptocurrency among the high-income population

Brazil is the country with the highest percentage of people who own cryptocurrency, at 41%, according to a survey conducted by the American Gemini exchange in 20 countries last year.

Also, according to the study, more than half (51%) of Brazilians started investing in cryptocurrency in 2021, mainly due to inflation.

Brazil was also the country with the highest percentage of people (66%) who said cryptocurrency is the future of money.

The survey was conducted with 29,293 adults aged 18 to 75 – 1,700 of whom are in Brazil – with an annual income of at least $14,000, or about R$5,300 per month—roughly double the national average (R$2,622) according to IBGE data for 2010. 2020.

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