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New Delhi: Despite volatility among riskier asset classes, crypto tokens were able to reverse the previous day's losses. Recent volatility is due to factors like inflation, the Ukraine crisis and the tightening of the monetary policies.

Barring the dollar-pegged Tether, all major crypto tokens were trading higher during the early hours on Tuesday. Dogecoin zoomed 20 per cent. Terra rallied 8 per cent, whereas Ethereum was up by 5 per cent.

Bitcoin and Ethereum recovered back in the past 24 hours. Seems like the short-term Bitcoin buyers have returned around the support level, said Edul Patel, CEO and Co-founder of Mudrex.

The global cryptocurrency market cap was trading at $1.86 trillion, up over 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 43 per cent to $97.88 billion.

"Fed representatives will meet in early May to make a decision on another rate hike, which could spell additional doom in risk assets," he added.

Global updatesTwitter has accepted a $54.20-a-share buyout offer from Tesla CEO Elon Musk, valuing the social media company at about $44 billion in cash. Once the deal is completed, Twitter will become a privately held company.

Crypto exchange Kraken has received a Financial Services Permission (FSP) license from the Abu Dhabi Global Market (ADGM) to operate a regulated exchange platform in the United Arab Emirates (UAE).

Tech View by Giottus Crypto ExchangeBitcoin (BTC) has set itself up for interesting price action this week with several highlights during its last weekly close. Aside from being its lowest weekly close since early March, Bitcoins sub-$40,000 level was also its fourth red weekly close in a row - the first time since June 2020.

While charts indicated further downsides, BTC has closed significantly in the green today at $40,500. Now, once again, bulls and bears are facing off to determine the next direction.

But the bulls will certainly want a reclamation of the $43,000 level to establish a higher high and change its market structure on the larger time frame charts.

Key levelsSupport: $40,000, $39,500Resistance: $41,500, $42,000, $43,000

(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)

The rest is here:
Top cryptocurrency prices today: Dogecoin, Ethereum, Terra rally up to 20%; Bitcoin above $40,500 - Economic Times