Bitcoin ($BTC), Dogecoin ($DOGE), Ethereum ($ETH) – Ethereum Firm, Bitcoin, Dogecoin Tread Read: Analyst Says ‘Vulnerable’ Apex Crypto Could Hit June Lows If It Happens



Major coins traded mixed on Tuesday evening, with the global cryptocurrency market capitalization down 0.8% to $973.7 billion at press time.

Price performance of major coins
Piece of money 24 hours 7 days Price
Bitcoin BTC/USD -1.3% -seven% $19,963.73
Ethereum ETH/USD 0.3% -6.2% $1,548.52
Dogecoin DOGE/USD -3.3% -10.3% $0.06

Top 24 hour gainers (data via CoinMarketCap)
Cryptocurrency % change over 24 hours (+/-) Price
To flow (TO FLOW) +5% $2
NEAR Protocol (NEAR) +6.5% $4.28
Nexo (NEXO) +3.5% $1.02

See also: How to get free NFTs

Why is this important: Bitcoin slipped below the psychologically important $20,000 level on Tuesday as it trailed a weak finish in stocks. The S&P 500 and Nasdaq both closed down 1.1%, while their futures were flat at press time.

New York Federal Reserve President John Williams took a hawkish stance on Tuesday. He told the Wall Street Journal that “we’re going to have to have a restrictive policy for a while.”

“I think with demand far outstripping supply, we need to get real interest rates … above zero,” he said. “We need to have a somewhat restrictive policy to slow down demand, and we’re not there yet.”

Edouard Moyaa senior market analyst at OANDA, said risk aversion is “firmly back” and sent the centerpiece below $20,000.

“If the selloff on Wall Street intensifies, Bitcoin looks very vulnerable here. If the S&P falls 3% over the next few days, this could be the catalyst to send Bitcoin back to June lows,” Moya said in a note, seen by Benzinga.

The dollar index, a measure of the greenback’s strength against six of its peers, fell on Tuesday. At press time, it was down 0.1% to 108.65.

Justin Bennett said the dollar index is holding below the 109.30 resistance, but a consolidation below is “usually a sign of bullish things to come.”

The trader tweeted: “I think we see 112-113 in September.” Notably, Bitcoin recently moved in the opposite direction to the dollar index.

Chartist Ali Martinez said nearly 82,600 BTC, worth $1.7 billion, were withdrawn from known cryptocurrency exchange wallets over the past month.

Michael van de Poppe tweeted that Ethereum is on its way to $2,200 as it approaches the transition to a proof-of-stake mechanism.

“I still look forward to the continuation of this bottom-up structure, whether or not it is [Bitcoin] sweeps $19,000 for liquidity,” the cryptocurrency trader said.

Amid volatile trading week, ‘disbelief’ runs high among Ethereum traders, says Saniment on Twitter.

“The crowd has [shorted]on all exchanges, at the highest ratio since June 2021. Historically, price increases are more frequent under these conditions,” the market news platform said.

Read more : Vitalik Buterin issues this important reminder ahead of the Ethereum merger

Source link


Comments are closed.