CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,172.00
  • ethereum
    ETH$1,586.98
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Market Updates » Bitcoin Eyes $21K, Ethereum Skyrockets 11% as Another Shadow Fork Went Live (Market Watch)

    Bitcoin Eyes $21K, Ethereum Skyrockets 11% as Another Shadow Fork Went Live (Market Watch)

    Author: Jordan Lyanchev

    Last Updated Jul 15, 2022 @ 16:11

    The crypto market has green once again, led by Ethereum’s massive price surge of 11%. BTC stands well above $20K.

    Following the recent volatility, bitcoin went on a run-up and jumped above $20,000. The altcoins have also turned green today, led by Ethereum’s massive double-digit surge.

    Bitcoin Targets $21K

    After the middle of last week, in which the primary cryptocurrency jumped to a multi-week high of $22,500, the landscape turned grim. In a matter of days, the asset fell to and below the coveted $20,000 line.

    Once the US outlined its latest record-setting CPI numbers earlier this week, BTC experienced volatility once more and dropped below $19,000. However, this was short-lived as the bulls returned to the scene.

    Bitcoin jumped to $20,000 yesterday, and although it failed to reclaim it decisively at first, it did so in the past 12 hours. It even added almost $1,000 more and currently sits close to $21,000. As such, its market cap is now at nearly $400 billion, but the dominance over the alts has been reduced to 42.5%.

    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    Notable Bitcoin News

    New data showed that BTC’s correlation with the US stock market had declined significantly lately to a yearly low.

    Alicia Bakery
    CMO - A really good agency

    Did you like this market update?
    This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

    Invalid email address
    Your privacy is guranteed.
    Thanks for subscribing, you will get your first report in the next hours!

    BitMEX co-founder Arthur Hayes believes the US will start printing money sooner rather than later, which is ultimately bullish for bitcoin.

    JPM analysts said the BTC production cost declined 50% in June, which could be a bearish sign for the asset.

    ETH Leads The Way

    The alternative coins have turned green today, with ETH leading the way. The second-largest cryptocurrency is up by more than 11% on a daily scale and trades north of $1,200. This comes as the 9th Merge shadow fork went live.

    Similar impressive gains come from Solana and MATIC from the larger-cap alts. Both have jumped by approximately 12%. As a result, SOL sits close to $40, while MATIC is at $0.7.

    Ripple, Dogecoin, Polkadot, Shiba Inu, and Avalanche are also well in the green, while BNB, ADA, and TRX have charted more modest gains.

    With most of the lower- and mid-cap alts performing in a similar fashion, the cumulative market cap of all crypto assets has added over $50 billion in a day and sits well above $900 billion.

    Cryptocurrency Market Overview. Source: Quantify Crypto
    Cryptocurrency Market Overview. Source: Quantify Crypto

    Industry News

    COTI said it will undergo a hard fork that will see the deployment of MultiDAG 2.0 on its mainnet.

    Amid the ongoing market crash, OpenSea joined other large industry companies in laying off a substantial chunk of its employees.

    Circle, the issuer of the second-largest stablecoin, disclosed its reserves providing their liquidity and availability.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$23,172.00
  • ethereum
    ETH$1,586.98
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    From Google and Microsoft to Binance: Interview with Head of Product Mayur Kamat

    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top