Bitcoin, Ethereum, Dogecoin Spike: “Retail Investors Are Piling Up” – Bitcoin (BTC/USD)

bitcoins And Ethereum Wednesday night as the global cryptocurrency market cap jumped 3.1% to $830.4 billion as of 9:07 PM EST.

Price trend of the main currencies
Currency 24 hours 7 days Price
bitcoins BTC/USD 3.35% 0.45% $16,767.37
Ethereum ETH/USD 6.4% -1.2% $1,204.75
Dogecoins DOGE/USD 7.1% -3.3% $0.08
Best 24 Hour Earnings (Data via CoinMarketCap)
Cryptocurrency % variation 24 hours (+/-) Price
Hyphen (DASH) +16.7% $43.14
BNB (BNB) +13.6% $302.03
The graph (GRT) +12.7% $0.06

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Because matter: The release of the Federal Open Market Committee Wednesday’s minutes indicated that US central bank policymakers felt that “a slowing of the pace of the increase would probably be appropriate soon.”

Risk assets were seen rallying with expectations of a pivot mounted by the Federal Reserve. Cryptocurrencies are up and the stock has been in positive territory for two days in a row.

The S&P 500 and the Nasdaq finished up 0.6% and 1% respectively in intraday trading. At the time of writing, US stock futures were in the green.

“Bitcoin and cryptocurrency markets rebounded today after continuation of relief rally in S&P 500,” he said Marcus SotirioGlobalBlock analyst.

“Retail investors are piling up at a rapid pace, as the supply of Bitcoin held by on-chain entities ranging in size from 0.1 to 1 BTC is increasing,” Sotiriou said, in a note seen by Benzinga.

Sotiriou also noted that JPMorgan has registered a JP Morgan wallet with the US Patent and Trademark Office that includes cryptocurrency transfers and crypto payment services.

Cryptocurrency trader Michael van de Poppe noted that the total market cap for cryptocurrencies sits below its 200-week moving average but is still above its previous all-time high in 2017.

Justin Bennett noted that Bitcoin is approaching the $17,000 level. The crypto trader said on Twitter: “I still think [Bitcoin] will run the $17,200 shorts before it runs out. It needs a close above $16,580 to do that.”

On the chain analysis firm Glass knot tweeted that the total loss of the Bitcoin market “reached” the negative peak of $1.9 billion last Friday.

This is the fourth largest realized daily loss in history,” Glassnode said.

On the Ethereum side, shark and whale addresses continue to pile up with ETH prices less than a quarter of what they were a year ago.

“In October/November 2020, these 100 to 100,000 [ETH] addresses assisted in the push [ETH] to a +50% price increase in 5 weeks,” market intelligence platform Santiment said in a tweet.

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