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Crypto Market Cap Sees $50 billion Inflow In 24 Hours As Cryptocurrencies Turn Green

Jim Haastrup
By Jim Haastrup
3 Min Read
Crypto Market Cap

In a surprising turnaround, the crypto market has turned green in recent days after being red for most of last week. Bitcoin briefly surpassed $20,000 on July 5th following its recovery from near exhaustion just two weeks ago when it dropped below the critical  $20,000 mark. 

The crypto market capitalization has climbed from $864 billion to over $914 billion in the last 24 hours, meaning that an inflow of $50 billion has entered into this space.

Global market cap chart
Global market cap chart. Source: CoinMarketCap. 

The move reflects a 5.78% climb over the last day, with a total crypto market volume in the previous 24 hours being $58.94 billion, making a 54.81% increase. 

The celebration of Independence Day in America and other national holidays elsewhere across the world caused a number of traditional investment markets to be closed.

Cryptocurrency investors continued to access their cryptographic9o997⅞ wallets and make purchases of Bitcoin00 PPP and other crypto assets, despite the holidays. 

Bitcoin Leads Crypto Market Movements 

When an asset is in the process or has been suffering from a prolonged and severe decline, it’s normal practice for individuals to examine charts looking at different indicators on how much further they may fall.

With Bitcoin, we now have a large number of these types and technical indicators that forecast precisely this development.

Currently, the price of Bitcoin is trading at $19,754, up 1.43% in the last 24 hours, although down 3.79% over the previous week, at the time of publication.

Bitcoin 1-day price chart
Bitcoin 1-day price chart. Source: CoinMarketCap

Bitcoin 1-day price chart. Source: CoinMarketCap 

Bitcoins market cap skyrocketed by over $20 billion in a day, with Bitcoin’s total market cap at $385 billion.

Crypto trading analyst Michael van de Poppe noted that if there’s a chance of flipping $20,000 then he would be looking at Bitcoin’s price target near $28,000.

“Bullish divergence on the daily timeframe for Bitcoin on the CME futures. Flipping $20K and we’ll be good to go towards $23K and the summer relief rally. Finally.”

Elsewhere, Ethereum is trading at $1.146 up 8% in the last 24 hours with a market value of 140 billion dollars.

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Jim-Haastrup
ByJim Haastrup
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Jim Haastrup is a blockchain and technical writer at Voice of Crypto, where he covers cryptocurrency, NFTs, DeFi, GameFi, and the Metaverse. Before joining Voice of Crypto in 2022, he spent over three years as a senior technical writer across multiple blockchain projects, including Hashtoken, Naxar, and Bino, where he specialized in whitepapers, technical documentation, and content strategy for decentralized finance applications. Jim began his career as a junior technical writer at RM in Canada before advancing to lead technical writing roles at Bulltoken, a cryptocurrency crowdfunding platform in Norway. Throughout his career, he has authored more than 800 articles and collaborated with development teams to translate complex blockchain protocols into accessible content for diverse audiences including developers, investors, and crypto enthusiasts. His work spans ICO/STO/IDO research and analysis, cryptocurrency market trend forecasting, and social media management for crypto brands. Jim has helped numerous startups build their online presence through strategic content marketing, technical whitepapers, and pitch deck development. Jim graduated from the Federal University of Agriculture, Abeokuta (FUNAAB), Nigeria with a Bachelor of Engineering in Electrical Engineering in 2021. Disclosure: No significant crypto holdings.

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