Crypto traders took a breather from shaky market conditions on June 23, when Bitcoin (BTC)’s short-term recovery to $34,880 led to a surge in altcoins, and they hope for a broader market rebound if the path set by The Wyckoff Distribution Model shows that he is the right person.

According to CoinMarketCap data, the total cryptocurrency market cap fell by about $230 billion between June 20 and 22, but on June 23 it managed to recover about $76 billion in value and now stands at $1.365 trillion, as seen by some traders on the correction. As a kind of correction. Opportunity to buy on flip.

Total market capitalization of cryptocurrencies. Source: CoinMarketCap
Bitcoin’s market cap fell by $68 billion, or about 11% of the total value, on June 22, but has since recovered from all the losses and is now already higher than it was before yesterday’s sudden crash, at $630 billion at the time of writing. . …

According to CL, a trader under the pseudonym on Twitter, there may be other reasons for optimism about the record increase in open interest in futures contracts on Binance.

Altcoin profit is expressed in two numbers
Bitcoin’s low bounce has been welcomed by altcoins, and data from Cointelegraph Markets Pro shows that most coins are in the green today.

According to Cointelegraph Markets Pro and TradingView, the biggest return so far was Cybervein (CVT), which at one point rose by 112% on the 24-hour chart but has since fallen to $0.0187, which is a 62% increase over June 22.

CVT/USDT 4-hour chart. Source: TradingView
ANKR ranks second on the day, rising 72% from $0.047 to $0.082.

According to Cointelegraph Markets Pro, ANKR had favorable market conditions for some time before the market pulled out on June 22.

Exclusive to Cointelegraph, VORTECS™ is an algorithmic comparison of historical and current market conditions drawn from a range of data points, including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ points (in green) against the ANKR price. Source: Cointelegraph Markets Pro
As you can see in the chart above, ANKR’s VORTECS reading was negative in the week leading up to June 2 and reached a high of 71 on June 21, about ten hours before the price jumped off the sell and collected. by 72%.

Other notable accounts identified by Cointelegraph Markets Pro include a 25% return on VeThor Token (VTHO) and Flow, while Dogecoin (DOGE), the most popular meme token on the market, received 20%.

Source: CoinTelegraph