As a result, SOL is close to breaking above $40. Nevertheless, Solana has stolen the show from the larger caps with a massive 9% increase. In contrast, Ripple, Avalanche, and MATIC have increased by up to 5% daily. However, the second-largest cryptocurrency is down by around 2% in the past 24 hours to just over $1,700, despite the Merge coming closer and closer.īinance Coin, Cardano, Polkadot, Shiba Inu, and Dogecoin are also slightly in the green from the larger-cap alts.
Most of the larger-cap alts are slightly in the red today, including Ethereum, which has been on a roll lately, perhaps fueled by the hype surrounding the upcoming Merge. Its market cap is still above $425 billion, and its dominance over the altcoins has increased to 40%. With trading volumes dropping, the volatility has spiked up as we can see currently in the market.Thanks for subscribing, you will get your first report in the next hours!Īs of now, it has retraced by a few hundred dollars but still stands north of $22,000. There’s a near 40% drop in the BTC Futures open interest in the last three months. Furthermore, the open interest for Bitcoin Futures has also fizzled out.
That’s down from US$13.1 billion a year earlier, and is well below the one-year average of roughly US$9.2 billion.īitcoin’s daily trading volume hasn’t even surged past $10 billion after the last price crash on December 4. As Bloomberg reports:Īfter trending lower for months, volume across exchanges clocked in at a mere US$4.8 billion on Tuesday, data from Kaiko compiled by Messari show. The world’s largest cryptocurrency remains dovish against the broader market expectations of BTC going to $100K levels.Īlso, the saggy trading volumes in Bitcoin show that enthusiasm surrounding Bitcoin has been dropping fast. Knee-jerk reactions in crypto tend to treat them as exclusively risk assets in spite of the longer term trends around inflation, store of value et cetera.” Bitcoin Enthusiasm on the Downtrendīitcoin has been struggling at $47,000 levels for quite a while over the last few weeks. Speaking to Bloomberg, Stephane Ouellette, chief executive and co-founder of crypto platform FRNT Financial Inc said: Most altcoins are in a similar position this week, making it the worst performing trading one since the massive crash in mid-June. Bitcoin’s situation took another turn for the worse in the past 24 hours as the asset slipped to 20,750.
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How To Trade This Bullish Pattern Emerged In Polygon Coin Chart Bitcoin News The cryptocurrency market has not seen such a negative trading week since the mid-June crash. Both the #SP500, along with #gold, have also tumbled and appear to be quite correlative currently. #Bitcoin briefly fell below $43k for the first time since September before showing a current, mildly encouraging bounce. It has been for the first time that the Bitcoin price has tanked under $43,000 since September 2021. The after-effects of the Fed commentary have been across asset classes including crypto, stock, and precious metals. Cryptocurrency Market Data Ethereum USD, 1,679.66, -44.60 XRP USD, 0.3472, -0.0105 Bitcoin Cash USD, 127.89, -1.51 Litecoin USD, 64.9900, 3.5800. GMT +7515 Binance IEO Alpine F1 +468 Binance IEO LOKA +395 Binance IEO VOXEL +159 Binance IEO. The total cryptocurrency market cap is currently 1.10T, an increase of 1.46 over the last 24 hours. This led Wall Street to go into a completely bearish zone after a strong start ahead this year. Live Crypto Prices and Cryptocurrency Market Cap. central bank has flagged the possibility of fast interest rate hikes than expected. Read: 90% Of Bitcoin’s Supply Has Been Mined And 4 Other Crypto Updates Of The Day! the recent price correction in the broader crypto market seems to be an outcome of the hawkish comments from the Federal Reserves on Wednesday, January 5. With this latest price crash, Bitcoin has eroded more than $65 billion worth of investors’ wealth.
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