KEY POINTS

  • Bitcoin picks up momentum 
  • Solana rises after network outages batter token 
  • Market cap goes up slightly

The global cryptocurrency market cap rose slightly Tuesday after the bearishness that gripped the market in the last couple of days. Top coins including Bitcoin were trading in the green, offering some relief to investors tired of seeing the red ink all over the charts. 

The crypto market cap was up 1.82% at $1.63 trillion as of 3.19 a.m. ET, CoinMarketCap data showed. 

Bitcoin rose 3.50% to $36,353, but remained below the $40k mark. Experts were optimistic, seeing the lower price of BTC as an opportunity for investors. 

"The buying momentum (of Bitcoin) has moderately picked up in the last couple of days and we can expect this to continue if the prices continue to stay at this level," Indian exchange WazirX's trade desk told International Business Times.

As many as six of the top 10 cryptos were trading higher. Solana, which had taken a beating after pesky network outages, gained over 5%. Ethereum, too, rose slightly. 

But meme cryptos Shiba Inu and Dogecoin plunged. 

Although most tokens showed signs of bullishness, prices remained below expectations. The market chatter was dominated by fears of a "crypto winter" but experts tended to side with the booming optimism on social media. They think this is an opportunity to make long-term crypto investments. 

In other news, a central bank digital currency (CBDC) would differ from the digital money because it would be a liability of the Federal Reserve, not a commercial bank, and hence would have no credit or liquidity risk, Bank of America said in a report.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.

The FBI was able to obtain the private key to access the bitcoin bought with the stolen funds, the Justice Department said The FBI was able to obtain the private key to access the bitcoin bought with the stolen funds, the Justice Department said Photo: AFP / PIERRE TEYSSOT