Bitcoin (BTC) buying and selling hesitancy may sign ‘return of excellent instances’, analyst says

Major coins fell on Tuesday evening as the global cryptocurrency market cap fell 0.5% to $1.07 trillion at press time.

Price Indicators for Major Coins
Coin 24 hours 7 days Price
Bitcoin BTC/USD -2% 7.7% $22,841.31
Ethereum ETH/USD -2% 11.3% $1,609.74
Dogecoin DOGE / USD -2% 7.6% $0.07
Best 24-Hour Gains (data via CoinMarketCap)
Cryptocurrency 24 hour % change (+/-) Price
Lido DAO (I’M DOING) +12.5% 2.3 USD
Chronos (CRO) +6.6% $0.15
Oasis network (ROSE) +9.1% $0.09

See also: How to get free cryptocurrency

Why it matters: Risk assets were negative on Tuesday night, with the top two cryptocurrencies in the red. The S&P 500 and Nasdaq closed down 0.7% and 0.2%, respectively. At press time, their future was essentially flat.

Bitcoin’s third consecutive daily decline could be a sign that “the pace of the recovery is slowing down,” wrote Craig Erlamsenior market analyst with OANDA.

His move will probably “ultimately depend on inflation,” the Federal Reserve and any worrisome news, he said.

“Perhaps the hesitancy is a sign that traders lack confidence that this is the bottom and the good times are about to begin.”

Important news that may affect the price of Bitcoin exit about Michael Saylor as CEO MicroStrategy Incorporated. MSTR – The US company with the largest Bitcoin holding.

Saylor will continue to serve as MicroStrategy’s chief executive, as he says the move will allow him to focus on the company’s Bitcoin acquisition strategy, while the company’s president Phong Le takes the reins.

On Tuesday, the company announced about 918 million

A visit Speaker of the US House of Representatives Nancy Pelosi Taiwan is encouraged to be risk-averse, which in turn lifted the dollar index, which was up 0.24% on the day at 106.49 at press time.

Cryptocurrency trader Justin Bennett said crypto bulls will want the dollar to fall from the day’s low of 105.05 to “revealed 103.”

“Tough times for risky assets before they break,” Bennett said in a tweet.

According to the chartist, bitcoin is testing resistance Ali Martinez and a clean close above $23,530 will allow a retest of the $24,400 supply zone.

Ethereum’s transaction fees have remained “extremely low” even as the price of the second-largest cryptocurrency has risen since mid-June, Santiment said.

“The lower circulation has played a big part in keeping costs down, so you can expect fees to remain reasonable until [FOMO] bump from the crowd,” the market intelligence platform said in a tweet.

At press time, Ethereum’s average transaction fee was $0.0014, or $2.28, according to BitInfoCharts.

Read on: Dogecoin founder and Vitalik Buter are at loggerheads over calling out cryptocurrency scammers

Leave a Comment