Massive Buying: Bitcoin (BTC) Shoots 15%, Top Ten Crypto Register Double Digit Gains

Published by
Massive Buying: Bitcoin (BTC) Shoots 15%, Top Ten Crypto Register Double Digit Gains

The crypto market has completely reversed its trajectory after a week of correction and consolidation. Massive buying has ensued in the broader cryptocurrency market over the last few hours with Bitcoin (BTC) posting a solid 15% plus gains. As of press time, Bitcoin is trading at $43,219 levels with a market cap of $819 billion.

Bitcoin has been recently at the center stage of the Russia-Ukraine war crisis with donations coming from across the world to Ukrainians, in BTC. Whether today’s price surge is the beginning of a strong trend reversal remains to be seen. However, bitcoin (BTC) is making a move closer to its 100-day moving average (DMA). Any breakout above this and we could be seeing is making a move to its 200 DMA.

However, one positive indicator is that despite the massive correction and fears of the Russia-Ukraine war, the Bitcoin accumulation addresses have been on the rise. In fact, they have rather turned parabolic in the month of February.

On-chain data provider Santiment explains that last week, there was a lot of FUD owing to the news of the war and the trader sentiment tanked to the lowest since October 2020. Santiment explains:

Historically, when a week of this level of FUD and negative posts from the crypto crowd occurs, prices have a tendency to bounce higher. It hasn’t been surprising to see that this breakout occurred immediately following the lowest point we’ve seen weighted social sentiment hit since October, 2020.

Altcoins Register Strong Bounce Back

Along with BTC, altcoins too are showing up a solid move with all top ten altcoins registering double digital gains. Ethereum (ETH) is up 11% and has moved closer to $3,000.

On the other hand, Terra’s LUNA continues with its massive rally ahead despite all odds. The LUNA price is up 24% at press time and is currently trading at $87.58 with a market cap of $33 billion. On the weekly charts, LUNA’s gains stand at 76% despite the recent crypto market rout.

With the recent move, Terra LUNA has surpassed giants like Cardano and Solana to become the seventh-largest cryptocurrency by market cap.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple

Senate Democrats and Republican lawmakers have ended separate roundtable meetings focused on the Crypto Market…

October 23, 2025
  • News

How the Crypto Market Could React to the Next Fed Meeting on October 29?

The crypto market has, for a while now, been pricing a potential 25 basis points…

October 23, 2025
  • News

$1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP

Rowe Price has filed for its first actively managed crypto exchange-traded fund (ETF). It is…

October 22, 2025
  • News

Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions

Standard Chartered analyst Geoff Kendrick has predicted that the Bitcoin price could suffer a significant…

October 22, 2025
  • News

Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7

Crypto ownership is a topic that has been discussed across major forums globally in the…

October 22, 2025
  • News

Robinhood Lists Binance Coin as BNB Outperforms BTC, ETH, SOL YTD By Over 30%

Crypto exchange Robinhood has listed the Binance coin for spot trading for its U.S. customers.…

October 22, 2025