Bitcoin, Ethereum and Dogecoin soar: Analyst sees this week’s Fed meeting as the moment to ‘rip tax aid’ for Apex Crypto – Bitcoin (BTC/USD), Ethereum (ETH/USD) and Dogecoin (DOGE/USD)

The two largest currencies are up at press time as the global cryptocurrency market cap rose 1.7% to $944.8 billion at 8:18 PM ET on Monday.

Major currency price performance
Currency 24 hours 7 days price
Bitcoin Bitcoin / US Dollar 0.65% -12.6% USD 19,545.59
Ethereum ETH / USD 3.2% -19.6% 1,337.62 USD
Dogecoin DOGE / USD 1.9% -8.3% 0.06 dollars
Top 24 Hour Gainers (data via CoinMarketCap)
Cryptocurrency Change by 24 hours (+/-) price
TerraClassicUSD (USTC) + 19.7% 0.035 dollars
helium (HNT) + 15.9% $4.60
ApeCoin (Monkey) + 15.8% $5.88

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Bitcoin And the Ethereum It was in the green, along with other risky assets, before the United States Federal ReserveThe policy meeting is scheduled to start on Tuesday.

S&P 500 and Nasdaq futures are up 0.4% and 0.55% respectively at the time of writing.

Said a senior analyst at OANDA Edward Moyain a note seen by Benzinga.

This week may be the catalyst sending the market into pricing at the height of the Fed’s tightening. This could be the moment Bitcoin rips as the selling pressure may get ugly here but that may be what is needed to form a bottom.”

Justin Bennett He said that Bitcoin is testing the $19,600 level. The trader tweeted, “Get that back on the daily chart, and things can get fun.”

There are still plenty of short liquidations as high as $19,800 and even above $20,500. We’ll see, but for now, that sounds like a V.”

The ‘V-bottom’ refers to the pattern that appears when price momentum shifts from aggressive selling to aggressive buying – and it is considered a bullish reversal pattern.

Michael van de Poppe He said that Ethereum is looking at “weakness” as it has lost its “upside structure.” The cryptocurrency trader said on Twitter, “Expect a response from the $1,200-1,300 zone. Not sure if we will bounce back towards $1,425 as the Fed on Wednesday is the most important trend setter.”

The discount between pegged ETH and spot ETH has shrunk to the lowest levels since May. The trend is that some of the risk premium is now off the table, according to Kaiko Research.

“The ETH stack deduction is likely to continue until the next upgrade of Ethereum allows for withdrawals sometime next year,” the market data provider said in a note.

Stake ETH Price through September – Courtesy of Kaiko Research

“The opportunity costs of owning ETH (staking offers additional rewards) have now increased which could provide some tailwind for the ETH backlog.”

Meanwhile, although the cryptocurrency markets have taken a hit over the past week, social interest is seeing a shift to Ethereum along with other altcoins like XRP, Cardano, Polygon and Shiba Inu, according to the market intelligence platform. saint on Twitter.

read the following: Bitcoin, Ethereum and Dogecoin tumbled last week but this coin decisively bucked the trend, gaining nearly 13%


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