Thursday night Bitcoin It rallied but failed to break the key $40K barrier in daily trading; Meanwhile, the global cryptocurrency market capitalization jumped 1.2% to $1.8 trillion.
|Currency||24 hours||7 days||price|
|Bitcoin (CRYPTO: BTC)||+ 1.1%||-2.05%||$39752.19|
|Ethereum (CRYPTO: ETH)||+ 1.5%||-1.95%||USD 2,935.79|
|Dogecoin (CRYPTO: DOGE)||-2.9%||+ 0.5%||$0.14|
|Cryptocurrency||Percentage change in the last 24 hours (+/-)||price|
|ApeCoin (bee)||+ 23.7%||$24.04|
|Sky Network (SKL)||+ 20.4%||$0.19|
|Pie (cake)||+ 10.6%||8.34 dollars|
Because it’s important
Bitcoin and other major cryptocurrencies continue to outperform stocks. The S&P 500 and Nasdaq rose 2.5% and 3.1%, respectively, on Thursday after some of the major US companies reported strong earnings data.
Do you love cryptocurrencies and want to start trading? On the eToro platform, you can trade over 60 different cryptocurrencies!
Economic data released on the same day showed that US GDP declined by 1.4% in the first quarter of 2022; In the same period, consumer spending increased by 2.7%.
The drop in GDP gives analysts and others hope that the Fed can temper its aggressiveness; This move will be interpreted as positive for cryptocurrencies.
Cryptocurrency trader Justin Bennett He said on Twitter that the graphical structures he follows indicate a drop on May 4, when the Federal Reserve holds its next meeting.
“A more dovish Fed will lead to a rally in stocks and [criptovalute]Bennett said.
Several chart structures that I track point to a possible May 4th low. May 4th is the next Fed meeting, and we just got the first negative US GDP report since 2020. Until then, the more pessimistic Fed ignited a relief rush from stocks and # encrypt?
– Justin Bennett (@JustinBennettFX) April 28, 2022
founders glass Jan Wyan They tweeted that Fed action at next week’s monetary policy meeting “may have already been discounted”; Less risky results could help Bitcoin reach $42,000.
More hawkish action by the Fed at next week’s meeting may already be priced in, and any less risky outcomes could pay off. # bitcoin Over 42 thousand dollars. The #BTC strong consequences DXY Dollars https://t.co/NQT7fdOzwl pic.twitter.com/89pXlJeUGD
– Negenttropic (@negenttropic_) April 28, 2022
Meanwhile, the dollar continues to show extraordinary strength. The dollar hit a 20-year high against the yen on Thursday as the Japanese currency fell below 130 pips. The dollar index, a measure of the dollar’s strength against six other currencies, rose to an intraday high of 103.93, Reuters reports.
Thursday Michael van de Poppe He tweeted that the dollar will peak soon, while bitcoin will break out.
– Michael van de Poppe (@CryptoMichNL) April 28, 2022
Santiment said on Twitter that the slight recovery in the bitcoin price over the past two days means that the bitcoin profit and loss ratio is on the rise; The world’s leading cryptocurrency is seeing some profit taking, according to the financial behavior analysis platform.
# bitcoinThe percentage of transactions that are made in profit vs. The loss is increasing after the slight bounce in the past few days. while, # Ethereum He’s had some serious surrender over the past seven days, which explains his slight price dominance BTC dollars. https://t.co/z8kmkneqT9 pic.twitter.com/4ApDsKmP2u
– Santimentfeed April 28, 2022
Keep up to date with the latest trading news and ideas following Benzinga Italy on Twitter.