Bitcoin And Ethereum’s 2023 Recovery is Going Well So Far

The market intelligence firm Santiment shared some insights about coin performances in one of their latest Tweets on January 6. According to the post, crypto markets are steadily on the way to continuing their recovery in 2023, Ethereum (ETH) and altcoins especially.

Ethereum / Tether US 1D (Source: CoinMarketCap)

According to CoinMarketCap, ETH is currently trading at $1,265.62 after a 1.49% increase in price over the last 24 hours. The altcoin is also still in the green by more than 5% over the last seven days.

In addition to this, ETH was also able to strengthen against its biggest competitor, Bitcoin (BTC) by about 0.56%. Also in the green zone is ETH’s 24 hour trading volume which currently stands at $4,644,379,906 after a more than 20% increase since yesterday.

BTC, ETH, S&P 500, Gold price comparison (Source: Santiment)

The post also added that although BTC separated from the S&P 500 after the FTX meltdown, the two still remain very correlated. Santiment concluded the Tweet by stating that a break “would be good for BTC”.

Bitcoin / Tether US 1D (Source: CoinMarketCap)

BTC is also in the green for the day so far and is currently trading at $16,942.38 after a 0.89% increase in price over the last day. The crypto market leader is also still in the green by more than 2% over the last week and is also up by 0.61% over the last month.

BTC’s 24-hour trading volume, however, is in the red zone and now stands at $13,596,445,414 after a more than 2% decline.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.



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