Crypto news daily: Bitcoin data and price analysis for July 8, 2022

Bitcoin prices rose over 7% and traded above the $21,000 level as the crypto market rebounded sharply on Friday, July 8, 2022. Bitcoin is on its course to its best weekly gain since October last year. The world’s largest cryptocurrency by market capitalization was up more than 13% for the week so if the move holds that would be the biggest gain for such a span since 2021. The digital token is down over 56% so far this year, and trading over 70% below its record high of $69,000 it had hit in November 2021.

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Cryptocurrencies have struggled this year amid monetary tightening and a series of blowups in a digital-asset sector that’s still sobering up after binging on leverage. After crypto’s last two-year winter ended in 2020, the sector spiked to around $3 trillion in total assets last November, before slumping to less than $1 trillion. The collapse of the Terra/Luna ecosystem and the continued concern about the hedge fund Three Arrows Capital Ltd further rattled investors.

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The global cryptocurrency market cap was at $962.36 billion, up 4.59% in the last 24 hours. However, the total cryptocurrency 24 hours trading volume is $66.38 billion.

The Bitcoin fear and greed index on Friday, July 8, 2022, went from the extreme fear level of 18 to the level of 20 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading at $21,590.33, up by 5.32%. In
the last 24 hours, the highest it touched was $22,314.94 and the lowest was $20,382.89.
Bitcoin has a current market cap of $412,092,344,283. It has a circulating
supply of 19,088,225.00. BTC coins have a maximum supply of 21,000,000 coins.

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Crema hacker returns $8 million, keeps $1.6 million in deal with protocol

The hacker who exploited Solana-based liquidity protocol Crema Finance on July 2, returned most of the funds but was allowed to keep $1.6 million as a white hat bounty. The bounty, 45,455 Solana (SOL), is equal to 16.7% of the $9.6 million Crema lost initially, which forced the protocol to suspend services. Crema’s team started an investigation to identify the hacker by tracking their Discord handle and following the original gas source for the hacker’s address.