Bitcoin rose in price to the level of $46,600. The price of Ethereum strengthened to the level of $3375, and the price of XRP reached $1.08. The total capitalization of the digital currency market was $2.11 trillion.
Long-term holders continue to increase their share in the total volume of bitcoins amid renewed market volatility. To separate short-term and long-term holders, Glassnode analysts focused on the 155-day mark. In mid-April, bitcoin was trading around $60,000. In other words, coins purchased after the highs are considered as belonging to short-term investors, and before — to long-term investors. The share of bitcoins in the wallets of long-term investors has reached 79.5%. The indicator was at similar levels in October before the start of the uptrend. In absolute terms, the number of coins in the wallets of long-term holders is now the maximum for the entire existence of bitcoin and is 12.97 million. The peaks of the indicator usually correspond to the late stages of the descending market and foreshadow the beginning of an ascending cycle. Two large cryptocurrency networks immediately failed due to malfunctions this Tuesday. Transactions were not added to the Solana network for more than three hours. A similar problem with resources was already observed a week ago. The fixes were included in a new update that the developers did not have time to release before the failures began. Thus, the network should be stabilized after the patch is installed by the validators. While the situation with Solana was being resolved, problems arose in the Arbitrum network used for scaling Ethereum. According to the blockchain browser, the release of blocks also stopped in the Arbitrum network, but the break was only 5 minutes. The developers have confirmed the troubleshooting, but the reasons for what happened are unknown.
The forecast assumes a decline in the price of bitcoin to the levels of 46300, 46000 and 45000 dollars. The price of Ethereum will fall to the supports of $3350, $3325 and $3300, and XRP will fall to the levels of $1.06,1.05 and 1.02.