Cryptocurrencies are trying to erase the effects of turbulence in June. Bitcoin, the leader of the crypto money market, fell to the bottom of 1.5 years, falling to the level of 17 thousand dollars on June 13. Bitcoin had lost more than 37 percent in June.

With the collapse of the Terra ecosystem's two crypto assets, LUNA and UST, in May, cryptocurrencies were officially hurt, while investors' confidence in the market was severely damaged. In June, pressure on digital assets increased as cryptocurrency funding company Celsius Network halted withdrawals and filed for bankruptcy. However, as of July, the tide has turned in the cryptocurrency market.

Bitcoin, which rose above $ 20 thousand again in July, made limited gains on a monthly basis. Bitcoin gained around 6% in July.

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Bitcoin, which has been in an upward trend since July, excites its investors with its performance in recent days. Bitcoin, which has been stuck around the 24 thousand dollar level in recent days, has ensured its permanence here. Over the weekend, Bitcoin tested above the critical level.

Bitcoin, which started the day at around $ 24 thousand 443, crossed the critical threshold of $ 25 thousand at around 10.30 am. Bitcoin, which rose to the level of 25 thousand 47 dollars, could not maintain its permanence here. Bitcoin is currently trading at $ 24,758.

Ethereum, the second highest-volume digital asset after Bitcoin, surpassed the critical threshold of $ 2,000 last day. Ethereum continues to rise today, exceeding $ 2 thousand 30. This was recorded as the peak of the last 2.5 months.

With the performance of Ethereum in the last period, its return has surpassed Bitcoin. Ethereum gained 56.69 percent in July. Since August 1, Ethereum has risen more than 30 percent.

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Investors are wondering why cryptocurrencies are rising after the big crash. The main reasons for the increase in cryptocurrencies are the economic data from the USA and the US Federal Reserve's (Fed) interest rate policy.

With the US labor market recovering above expectations and producer and consumer prices returning from record levels, expectations that the Fed will increase the policy rate more slowly in September prevailed.

Markets are currently speculating that the Fed will raise interest rates by 50 basis points in September. While the expectations that the Fed will slow down the tightening in monetary policy increased the risk appetite in the markets, this situation led to the rapid rise in stocks and cryptocurrencies.