The two biggest pieces were in the green evening on Sunday as the global cryptocurrency market cap rose 0.5% to $921 billion at 9:25 PM ET.
|Currency||24 hours||7 days||price|
|Bitcoin Bitcoin / US Dollar||0.4%||-1.55%||$19197.35|
|Ethereum ETH / USD||1.8%||-2.3%||1,302.79 USD|
|Dogecoin DOGE / USD||-0.6%||-5.75%||0.06 dollars|
|Cryptocurrency||Change by 24 hours (+/-)||price|
|Kasper (CSPR)||+ 21.1%||$0.05|
|artificial (SNX)||+ 8.8%||$2.26|
|waves (waves)||+ 5.4%||$3.48|
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why does it matter: Bitcoin And the Ethereum US stock futures are also up at the time of writing, ahead of a new trading week.
Next week will be packed with earnings from US companies, which are grappling with record inflation and fears of a looming recession.
OANDA Senior Market Analyst Edward Moya He said in a recent note, seen by Benzinga, that Bitcoin has held up well amid the recent turmoil seen on Wall Street.
“Risk aversion is running rampant and Bitcoin is not breaking. Expectations for a Fed rate hike are on the rise and Bitcoin is still holding the $19,000 level,” Moya said.
Moya notes that a period of bitcoin stability is “good news” for long-term bulls. “High-frequency trading systems and hedge funds have their favorite shortcomings, and at the moment bitcoin appears to be a long-term bet for many.”
“If US stocks dip below 3600 this earnings season and bitcoin doesn’t break below summer lows, the crypto winter could officially end,” the analyst said.
Alternative.me’s ‘Crypto Fear & Greed Indicator’ indicated that ‘extreme fear’ is moving forward into the new trading week. The index is at 20 at the time of writing, while last week it was at 22. A value of 0 means “extreme fear”, while 100 represents “extreme greed”.
Michael van de Poppe He tweeted, “A great week is coming.” The Amsterdam-based cryptocurrency trader said that markets and technical analysis shows that “a big move is about to happen.”
Van De Poppe said that Bitcoin is “squeezing” and preparing to “breakout” above the $19,600 level.
A big week is coming.
Not on the macroeconomic data side, but markets and financial transactions are showing that a big move is about to happen.
– Michael van de Poppe (@CryptoMichNL) October 16 2022
A CryptoQuant analyst said funding rates – the periodic payments between traders to bring perpetual futures prices closer to the index price – have turned negative again as the price of Bitcoin drops from $22,000 levels to $19,000.
Bitcoin Funding Rates – Courtesy CryptoQuant
An analyst at the community analytics platform noted that metric values are “significantly low” compared to 2019-2021, indicating a “massive lack of demand and activity in the futures market.”
The analyst said the funding rate “should be closely monitored in the short term as potentially severe negative values increase the potential for short stress and could cause a cryptocurrency price reversal.”
On the Ethereum side, titles of sharks and whales holding 100 to 1 million ETH have fallen by 3.3 million ETH in the past weeks, on Twitter saint. The market intelligence platform said this equates to approximately $4.2 billion in “dumped coins.”
The price of the asset vs. [Bitcoin] have ebb and flow based [the] behavior of these key stakeholders.”
# EthereumSharks and whale titles (containing 100 to 1 million ETH dollar) decreased 3.3 million ETH dollar In the last five weeks only. This equates to about $4.2 billion in submerged coins. The price of the asset vs. # bitcoin It has ebb and flow based on the behavior of these key stakeholders. https://t.co/1L2iGaoxzg pic.twitter.com/jDkSzS6Vyk
– Santimentfeed October 16 2022
read the following: Bitcoin Volatility Less Than Stocks: Boon or Doom?
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