Bitcoin, Ethereum Muted, and Dogecoin Spikes: No Signs of a ‘Santa Claus’ Rise As Analyst Says Technical Path Behind Risk State – Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD)

bitcoin And the Ethereum Trading was roughly flat on Thursday night, ahead of the weekend, as the global cryptocurrency market capitalization rose 0.2% to $811.2 billion at 7:16 PM ET.

See also: Guide to Automated Cryptocurrency Trading for Beginners

why does it matter: While the two largest cryptocurrencies have been considerably lackluster in terms of price action, the leading meme coin, Dogecoinin the list of the best gainers of the day.

Hopes of a “Santa Claus” recovery faded Thursday with the return of risky asset sales. Technology stocks took a hit after numbers from major chipmakers brought demand concerns to the fore.

The S&P 500 and Nasdaq closed Thursday down 1.45% and 2.2%, respectively. US stock futures were largely flat at the time of writing.

Bitcoin and Ethereum prices are down today as risk aversion spreads across Wall Street. Tech stocks are the hardest hit, thank you micronAnd this seems to continue to put pressure on all interest rate sensitive sectors Edward Moyaa senior market analyst at OANDA.

Michael Van de Poppe He described Bitcoin’s price action as “beautiful” on Thursday. The cryptocurrency trader said that the major coin “hit support,” has “rebounded strongly since then,” and is now in the “resistance” area.

He said that with this Bitcoin response – $17,400 seems to be a potential level and it was far from the $16,800 – $16,900 level.

merchant Justin Bennett He said it was hard to “expect” much decline from the dollar index – a measure of the greenback’s strength against a basket of six currencies. It expects DXY to rebound from 102.103. At the time of writing, the dollar index is at 104.39.

This year, cryptocurrencies had a strong inverse relationship with the dollar index. Major currencies usually follow the opposite direction of the index.

Market information platform saint He noted that the amount of coins in self-holding is still creating a new all-time high and currently stands at 18.2 million BTC. Coins on exchanges are only 1.2 million BTC, which is the lowest in four years.

Santiment took a look back over a decade in its Twitter data.

The trend towards self-incubation has accelerated in recent times after bankruptcies Sam Bankman FriedUnder the leadership of FTX.

Bankman-Fried was brought into court in New York on Thursday. He faces allegations of fraud, money laundering, and campaign finance violations. Bail was set at $250 million.

read the following: Crime and entanglement: how FTX went bankrupt, and Alameda’s CEO pleaded guilty