Bitcoin ($BTC), Dogecoin ($DOGE), Ethereum ($ETH) – Ethereum Earnings Beat Bitcoin, Dogecoin: Why This Analyst Says Apex Crypto’s Near-Term Risk Appetite ‘Doesn’t Look Good’
Major currencies rallied Monday evening as the global cryptocurrency market cap rose 0.3% to $988.35 billion at the time of writing.
|Currency||24 hours||7 days||price|
|Bitcoin Bitcoin / US Dollar||0.5%||-1%||USD 20,015.73|
|Ethereum ETH / USD||4.4%||6.6%||1643 USD|
|Dogecoin DOGE / USD||2%||1.2%||0.06 dollars|
|Cryptocurrency||Change by 24 hours (+/-)||price|
|TerraClassic US dollar (USTC)||+ 25.8%||0.04 dollars|
|Ethereum Classic (etc)||+ 26.45%||USD 40.92|
|Ravenquin (RVN)||+ 12.8%||0.04 dollars|
See also: Best interest rates on the US dollar
why does it matter: Ethereum led the gains among the major currencies at the time of writing, while Bitcoin showed modest gains and was above $20,000. Stock futures were in the green at the time of publication, with a new trading week entering after the Labor Day holiday.
Cryptocurrency Dealer Michael van de Poppe He tweeted “great force on” Ethereum on Monday in response to the rise of the second largest coin by market capitalization.
a lot of force # Ethereum.
– Michael van de Poppe (@CryptoMichNL) September 5, 2022
This week, investors will be looking forward to speeches from Federal Reserve Presidents will be watching the interest rate hike decisions by the European Central Bank.
Bitcoin’s potential drop from the $20,000 level has been categorized as ‘Really Harmful’ by Craig Erlama senior market analyst at OANDA.
“The next key level below is the June lows around $17,500. Looking at the near-term risk appetite outlook, it does not look good,” the analyst said in a note seen by Benzinga.
Alternative.me’s “coded fear and greed index” flashed with “extreme greed” at the time of this story. Last week, the index recorded “Fear”.
Glassnode said in a blog post that liquidity continues to erode from all asset markets as the dollar rises. The on-chain analytics firm said periods of bitcoin “price jubilation” experienced “strong distribution from the largest investor classes, as the search for exit liquidity continues.”
Bitcoin, the total supply held by its long-term holders – Courtesy of Glassnode
Nevertheless, the conviction of the scammers persists, but market conditions are testing the weakest of hands: the short-term holders.
Bitcoin, Short-Term Offer at Loss – Courtesy Glassnode
“The majority of daily trade volume and confusion appears to be driven by new buyers, as they compete for the best entry,” Glassnode said.
Meanwhile, open interest in Ethereum waned after hitting an all-time high. Kaiko Research It said it tracked a decline in open positions from 5.1 million ETH in open contracts to nearly 4.7 million between the start of the month and Monday morning.
Open Interest and Funding Rate in Ethereum – Kaiko Research Courtesy of Kaiko
The cryptocurrency data provider said that the accumulation of short positions could be liquidated as the price of ETH rises.
read the following: Jim Cramer says stay away from Dogecoin and Shiba Inu, making money in crypto doesn’t mean it’s real