Bitcoin jumps above $22,000 for the first time since early June

by in Cryptocurrency News

Bitcoin

Bitcoin (BTC) starts the new week with a slight bounce. For the first time since June 8, the largest digital currency exceeded $22,000. At the time of publication of this review, it was trading at around $22,230.

Altcoins on Monday, July 18, demonstrate multidirectional dynamics. Ether (ETH) and Cardano (ADA) strengthened to $1,461 and $0.362, respectively.

Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE), on the contrary, fell to $259.7, $41.92, and $0.066. The capitalization of the crypto market is just over $1.072 trillion.

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Asian and European stock markets are strengthening against the backdrop of capital returning to risky assets. The top performing altcoins in July were Ethereum and Polygon, which skyrocketed 45% and 50%.

However, the threat of a new sell-off remains, Bloomberg analysts say. High inflation forces central banks to stick to the tightest possible monetary policy. They can raise base rates, which will lead to a new exit of capital from risky assets.

The bankruptcy of some crypto companies also undermines the appeal of digital currencies. Therefore, an aggressive rally soon is unlikely.