Cryptocurrency rise begins to slow with $1 trillion in capital value

cryptohot@newsletter.paragraph.com (Crypto Hot) — Thu, 27 Oct 2022 21:10:09 GMT
- While the crypto money market cap has reached the level of 1 trillion dollars again, after the last 5 weeks of horizontal movement, the market value has increased by nearly 7% with the fund inflows since the beginning of the week.

However, after reaching the psychological level of $1 trillion in the US trading hours yesterday, a slowdown was observed in the value increase and a horizontal view was formed throughout the market in the last 24 hours.

The average transaction volume, which was approaching 130 billion dollars this week, also fell slightly to less than 100 billion dollars.

On the other hand, crypto markets did not give a significant reaction to the 75 basis point interest rate increase of the European Central Bank today. In the meantime, the interpretation of the USA as a technical recession with a growth of 2.6% in the third quarter, above expectations, can be considered as a data supporting the markets.
Another important detail for cryptocurrencies is that the crypto money fear and risk appetite index, which measures the market perception, increased to the level of fear at the extreme fear stage as of yesterday. The index maintains its current position after rising to 33 yesterday.

Looking at the latest situation in Bitcoin, the biggest crypto money started the day horizontally in the $ 20,700 - $ 800 band, then returned to the $ 20,700 band after slumping below $ 20,500 for a short time. While the Bitcoin dominance rate has been falling for the last week, it has dropped below 40% today.

## The latest situation in the altcoin market ###
Ethereum, which has recorded a significant increase in value by 20% in the last week, has recorded a significant increase in the last two days. Ethereum, which managed to stay above $ 1,550 in today's transactions, turned its direction up again towards US trading hours and headed towards $ 1,580.

The prominent altcoin among the top 10 cryptocurrencies was Dogecoin. DOGE has seen a significant increase in demand after Elon Musk's visit to the Twitter headquarters, valued by 16% in the last 24 hours and is currently changing hands at $ 0.077.

Among the top 100 cryptocurrencies, the cryptocurrencies with the highest rise; It was ranked as Klaytn (24.75%), Dogecoin (16%), Mina (10%), EthereumPoW (8%), and Cosmos (8%).

The decreases were also limited in the market, which moves mostly horizontally today. According to this; Casper (-4%), Kava (-3%), and Litecoin (-0.5%) were the altcoins that saw the most drops in the top 100.

Currently, 85 out of 100 cryptocurrencies remain in the positive zone compared to yesterday, while 15 cryptocurrencies continue with a limited downward momentum.