Bitcoin, Ethereum and Dogecoin return to key levels

Today the main cryptocurrencies, Bitcoin And Ethereum, were in positive territory; The global cryptocurrency market capitalization jumped 2.9% to $1.9 trillion on Monday night.

Major currency price trends
Currency 24 hours 7 days price
Bitcoin (CRYPTO: BTC) 3% 3.45% $40956.93
Ethereum (CRYPTO: ETH) 2.8% 3.2% $3,077.28
Dogecoin (CRYPTO: DOGE) 0.6% 4.4% $0.14
Coins gained the most in the last 24 hours (data from CoinMarketCap)
Cryptocurrency Percentage change in the last 24 hours (+/-) price
Steppen (Foot) + 33.9% $3.25
ground (moon) + 18% USD 91.33
Zcash (ZEC) + 13.7% $156.43

Because it’s important

Bitcoin and Ethereum volumes increased on Monday; The volume of both blocks over 24 hours jumped nearly 75%, to $33.89 and $18.76 billion, respectively, according to data from CoinMarketCap.

Among other risky assets, S&P 500 and Nasdaq futures are up 0.5% and 0.7%, respectively, at press time. The market is preparing for a busy week of earnings reports.

The dollar showed strength against both the yen and the euro; The dollar index, a measure of the US currency’s strength against six other currencies, rose to a two-year high of 100.86, according to a Reuters report.

The strength of the dollar is a negative factor in the cryptocurrency market, according to Delphi Digital.

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“While BTC is struggling to hold above $40,000, the US Dollar Index (DXY) just crossed 100 for the first time in nearly two years,” the independent research firm said.

“The dollar is now on the verge of a multi-decade breakout, as two of the major currency pairs (the euro and the Japanese yen) are both subject to technical crashes in and of themselves. The euro and the yen make up about 70% of the DXY.”

DXY monthly candles vs. 14-month Relative Strength Index (RSI) – via Glassnode

Another factor working against the world’s leading cryptocurrency is liquidity, according to Delphi Digital. Delphi Digital in recent weeks has pointed to the difference between the expected price of a trade and the price at which it is executed, or slippage, and said it has seen average order volume in BTC experience 10 basis points of slippage.

“This could be a warning sign for spot market liquidity if this trend continues,” Delphi Digital said.

BTC historical average volume slippage 10 basis points – Courtesy of Glassnode

Market Information Platform Emotion He stated that Bitcoin’s MVRV (Market Realized Value) indicates that prices are in a semi-bullish zone.

“Average traders who invested in $BTC are currently down -10.4%. This indicator is fluctuating at 0%, so there is now less risk of buying while traders are in the red,” Santiment said in a tweet.

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