Bitcoin, Ethereum, Dogecoin Spike – Analyst Says Decent Opportunity We See BTC Highs Here – Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD)

Major currencies were seen trading higher on Tuesday evening as the global market capitalization of cryptocurrencies rose 2% to $804.9 billion at 8:33 PM ET.

The price performance of the major currencies
Currency 24 hours 7 days price
bitcoin Bitcoin / US Dollar 2.3% -3.8% $16,193.39
Ethereum ETH/USD 2.4% -10% $1,131.27
Dogecoin DOGE/USD 4.1% -9.75% $0.08
Top 24-hour gainers (data via CoinMarketCap)
Cryptocurrency Change by 24 hours (+/-) price
Dow Token Curve (CRV) +27.8% $0.65
Litecoin (LTC) +14.1% $69.98
Convex financing (CVX) +12% $3.99

See also: Webull vs eToro Comparison: Which is Better for Cryptocurrency?

why does it matter: Bitcoin and Ethereum traded in the green on Tuesday evening on a day when stocks closed in the positive. The S&P 500 and Nasdaq closed up 1.4% on the day. Stock futures are largely unchanged at the time of writing.

Investors expect release Federal Open Market Committee Wednesday. Earlier, President of the Federal Reserve Bank of Cleveland Loretta Master The moderate inflation data said “good news” but not enough to stop the rate hike cycle.

“The last round of Fed talk didn’t teach us anything new,” he said. Edward Moyaa senior market analyst at OANDA.

“The labor market is a key concern for the Fed, and as Mester noted, demand for labor continues to outpace supply. However, recent trends show that the labor market is showing signs of slowing.”

Regarding Bitcoin, Moya said that it “is back above the $16,000 level, but remains in the danger zone as everyone waits for the next crypto domino to fall.”

“Bitcoin could continue to settle here if Wall Street rebounds, but that seems unlikely as this bear market for stocks has yet to bottom out. Bitcoin has support above $15,500, but if that doesn’t hold, technical selling could send Prices are towards the $13,500 region.”

Cryptocurrency dealer Michael Van de Poppe He said the major coin “shows more continuity” but “needs to regain some more levels to show serious strength.”

Justin Bennett He said that “the markets are still range bound, but short liquidations are piling up above $17K.” The trader said, “We see a decent opportunity [Bitcoin] Run highs here.”

Market information platform saint He notes that the word “dead” has been circulating in cryptocurrency discussions since November.

As one of the most [bearish] Sentimentally speaking, this is a sign of traders giving up on the rebounding markets. Ironically, this capitulation occurs historically when markets rebound.”

read the following: What’s going on with the Grayscale Bitcoin Trust (GBTC) today?

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