Bitcoin And Ethereum traded on Green Thursday evening as the cryptocurrency’s global market cap increased 4.9% to $ 943.7 billion at 8:19 pm EDT.
|Currency||24 hours||7 days||price|
|Bitcoin BTC / USD||4.7%||-1.6%||$ 19,386.98|
|Ethereum ETH / USD||6.6%||-9.6%||$ 1,330.52|
|Dogecoin DUKE / USD||4.2%||1.6%||$ 0.06|
|Cryptocurrency||% Change over 24 hours (+/-)||price|
|XRP (XRP)||+ 22.1%||$ 0.5|
|Chiliz (CHZ)||+ 19.1%||$ 0.3|
|UNUS SED LEO (LEO)||+ 14.1%||$ 4.92|
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Because matter: Major cryptocurrencies moved in the opposite direction of stocks, which closed lower on Thursday.
The S&P 500 and Nasdaq closed 0.8% and 1.4% respectively. At the time of writing, US stock futures were seen slightly higher.
Meanwhile, 10-year Treasury yields have risen from the four-month lows seen in early August as investors expect from the U.S. Federal Reserve it will continue to hold its hawkish stance and keep rates higher even as it affects economic growth, Reuters reported.
The yield curve between 2-year and 10-year Treasuries is the most reversed since 2000. The reversal reached negative 58 basis points, demonstrating growing anxiety about an impending recession.
“Bitcoin is doing well as the global bond market selloff heats up. Recently, it looks like Bitcoin would be significantly lower if Wall Street saw Treasury yields skyrocket and stocks selling off, but that’s not happening. Bitcoin’s low could be okay if it manages to maintain the $ 18,000 level during this market volatility, “he said. Edoardo Moiasenior market analyst with OANDAin a note seen by Benzinga.
Cryptocurrency trader Justin Bennett he said we are likely to see some “bullish claims”, particularly for Bitcoin.
“I think everyone will have to wait a little longer for the big drop,” he said on Twitter.
We will likely see some bullish claims at today’s close, namely $ BTC.
– Justin Bennett (@JustinBennettFX) September 22, 2022
Cryptocurrency trader Michael van de Poppe said that the total market cap for the cryptocurrency has regained the 200-week moving average, which is good for the markets.
Total market capitalization for #Cryptography regaining the 200-week MA.
It would be good for the markets as a whole. pic.twitter.com/aUXkrsxmeI
– Michael van de Poppe (@CryptoMichNL) September 22, 2022
Jon Haspela senior institutional trading partner of BlockFi, tweeted that regardless of the prevailing macro landscape, Ethereum has seen pronounced selling pressure due to numerous factors such as declining whale portfolios, selling miners and Ethereum Pow (ETHW) trade.
Well, regardless of the macro landscape, numerous factors influenced ETH’s pronounced selling pressure:
– Diminishing Whale Wallets: pictured by @santimentfeed
– Miner Selling: Switching to PoS has reduced the dependency of miners
– ETHW Trade: long spot transactions, closed short futures pic.twitter.com/OQcgLJq71q
– Jon Haspel (@jon_haspel) September 22, 2022
Meanwhile, the price ratio of XRP / BTC has reached a one-year high of 0.000025 as optimism grows around Ripple’s resolution of a lawsuit with the United States. Securities and Exchange CommissionSantimento said.
“Active addresses of sharks and whales that keep from 1 to 10 m [XRP] they have been in an accumulation pattern since late 2020, “the market intelligence platform said on Twitter.
The price ratio of $ XRP/ $ BTC reached a one-year high of 0.000025 on the continued optimism of a potential settlement of #Ripple with the #SEC. Active addresses of sharks and whales from 1 to 10 m $ XRP have been in an accumulation model since late 2020. https://t.co/z0E12cpn4G pic.twitter.com/dnmQZVxfvO
– Santiment (@santimentfeed) September 22, 2022
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