Bitcoin fell below the $21,000 mark on Sunday night as the global cryptocurrency market capitalization decreased 1% to $957.1 billion.
|Currency||24 hours||7 days||Price|
|cryptocurrency||24 hour % change (+/-)||Price|
|Lido DAO (I DO)||+14.7%||$1.58|
|classic ethereal (ETC)||+14.4%||$19.69|
|theta fuel (GAS)||+14.2%||$0.06|
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Because it is important: CRYPTOCURRENCIES fell on Sunday night after exhibiting strength over the weekend, with Bitcoin hitting a high of $21,600.64 over the period and Ethereum hitting $1,377.94.
In the meantime, stocks — risky assets, which CRYPTOCURRENCIES have been kept in the shadows consistently in the recent past, they were seen in green at the time of publication. S&P 500 and Nasdaq futures rose 0.2% and 0.3%, respectively.
“Risk assets have been hit hard enough and they might be ready for a bounce here, but a sustained rally won’t come until the Fed has made a couple more massive rate hikes,” he said. Edward Moyasenior market analyst at OANDA, in a note seen by Benzinga.
Going into the new trading week, sentiment around crypto remains weak. alternative.me “crypto Fear & Greed Index” showed “Extreme Fear” at press time and was at 20. Last week, the index was at 22. An index value of 100 represents “Extreme Greed”, while a value of 0 shows “Extreme Fear. ”
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cryptocurrency businessman Michael van de Poppe He said it remains to be seen how Bitcoin will perform after the weekend as the $21,200 level was rejected.
“Overall the strength is still there and I assume more upside is coming. Crucial barrier for now; $21 thousand.”
It remains to be seen how #bitcoin is going to perform after the weekend as $21.2K was turned down.
Overall, the strength is still there and I assume more upside is coming.
Crucial barrier for now; $21K. pic.twitter.com/8LBNOMl5kk
— Michael van de Poppe (@CryptoMichNL) July 16, 2022
On-chain analytics firm Glassnode said Bitcoin has seen two “huge” capitulation events this year, both of which caused the biggest losses at the top. currencyvolume of transfers since 2011.
One event was the collapse of classic land (LUNC), which caused a total transfer volume loss of 538,000 BTC, and the other was a transfer volume loss of 480,000 BTC, as the market traded below the 2017 all-time high.
When LUNA crashed, the total transfer volume at loss was 538k $BTC.
– glass node (@glassnode) July 17, 2022
On the Ethereum side, a buzz is building around a price recovery. Market intelligence platform Santiment said the second largest coin by market capitalization saw a 29% gain in July.
Santiment also noted an increase in whale activity on the coin network at the address level from 1,000 ETH to 100,000 ETH since May.
#ethereal it has recovered quite well in July, with an increase of +29% in the month and +14% in the last 24 hours alone. Also, there is an increase in the key from 1k to 100k $ETH address level since the beginning of May, where 131 new whale addresses have appeared on the network. https://t.co/uGfRQ4dEls pic.twitter.com/ri8MhGIP0o
— Santiment (@santimentfeed) July 17, 2022
Chartist Ali Martinez he said that Ethereum seems to be “exploding” and set a target of $1,670 for the coin.
— Ali Martinez (@ali_charts) July 16, 2022
In the meantime, classic ethereal (ETC), considered by some to be a cheaper Ethereum game, was among the top intraday gainers on Sunday night. The coin is up more than 14% in 24 hours.