The Bitcoin (BTC) award has gained support following news that Paraguayan lawmakers are planning to bill for publishing legal tender BTC via Twitter. Shortly after the unconfirmed news on Twitter, the bitcoin price surged to $ 35,289 before dropping just below a large short-term resistance level.

While the Cryptocurrency Fear and Greed Index still indicates a sense of intense dread, it’s worth noting that the calculation rallied from June 14 to June 23 to June 22 on June 24, as traders begin to see a drop below $ 29,000 and open interest increase. in bitcoins as signals. Therefore, the current correction phase can be completed.

Fear and Greed Index for Cryptocurrencies. Source: alternative
While trader sentiment may have improved slightly, Cointelegraph analyst Marcel Beichmann suggested that investors could wait for the $ 6 billion Bitcoin and Ether (ETH) futures and options expiring on June 25 before taking a more drastic move.

Stocks Reach New Heights, Altcoins Rise
The crypto market was not the only market that has grown today. Traditional markets also hit new highs after US President Joe Biden said he had agreed with the Senate on a $ 953 billion bilateral infrastructure spending plan.

Following the announcement, the S&P 500 and Nasdaq rose to new intraday highs and closed the day with gains of 24.65 and 97.98, respectively, while the Dow Jones rose more than 322 points in the day.

Daily performance in the cryptocurrency market. Source: Coin360
As you would expect, altcoins have also piled up as the price of bitcoin has risen and traditional markets have risen. Ether (ETH) climbed above the psychologically important $ 2,000 level, while Tron (TRX) and Selo rose 26% and 28%, respectively. CELO’s move appears to be driven by the listing of its stablecoin Celo Euro (cEUR) on the KuCoin exchange.

Ahead of the recent price hikes, VORTECS ™ data from Cointelegraph Markets Pro on June 22 began to define an optimistic outlook for CELO.

The VORTECS score, excluding Cointelegraph, is an algorithmic comparison of historical and current market conditions taken from a number of data points, including market sentiment, trading volume, recent price movements, and Twitter activity.

VORTECS ™ score (green) versus CELO price. Source: Cointelegraph Markets Pro
As shown in the chart above, VORTECS for the result for CELO rallied into the green zone and reached a high of 73 on June 22, one hour before the price began to rise 56% the next day. On June 24, the VORTECS result turned green again, reaching a height of 74 when CELO began to rise another 25%.

The total market value of the cryptocurrency is now $ 1.4 trillion, and the dominance of bitcoin is 46.6%.

Source: CoinTelegraph

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