Bitcoin, Ethereum, and the Dogecoin Spike: “Retail Investors Pile Up” – Bitcoin (BTC/USD)

bitcoin And the Ethereum It was seen deep in the green on Wednesday night as the global cryptocurrency market cap rose 3.1% to $830.4 billion at 9:07 PM EST.

The price performance of the major currencies
Currency 24 hours 7 days price
bitcoin Bitcoin / US Dollar 3.35% 0.45% $16,767.37
Ethereum ETH/USD 6.4% -1.2% $1,204.75 USD
Dogecoin DOGE/USD 7.1% -3.3% $0.08
Top 24-hour gainers (data via CoinMarketCap)
Cryptocurrency Change by 24 hours (+/-) price
dash (dash) +16.7% $43.14
BNB (BNB) +13.6% $302.03
chart (GRT) +12.7% $0.06

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why does it matter: release Federal Open Market Committee Minutes on Wednesday indicated that US central bank policymakers saw that “a slowdown in the pace of increase will likely be appropriate soon.”

Risky assets were seen as buoyant as expectations mounted around a pivot by the Federal Reserve. Cryptocurrencies are up and stocks have been in positive territory for two days in a row.

The S&P 500 and Nasdaq closed up 0.6% and 1%, respectively, in daily trading. At the time of writing, US stock futures are in the green.

He said, “Bitcoin and cryptocurrency markets rebounded today after the S&P 500’s comfortable rally continued.” Marcus Soteroan analyst at GlobalBlock.

“Retail investors are accumulating at a rapid pace, as the Bitcoin supply held by on-chain entities is between 0.1-1 BTC volume rising,” Sotiriou said, in a note seen by Benzinga.

Sotiriou also noted that JPMorgan has registered JP Morgan’s portfolio with the United States Patent and Trademark Office that includes cryptocurrency transfers and cryptocurrency payment services.

Cryptocurrency dealer Michael Van de Poppe He noted that the total cryptocurrency market cap is running below the 200-week moving average but still above the previous all-time high in 2017.

Justin Bennett Note that Bitcoin is approaching the $17,000 level. The cryptocurrency trader said on Twitter, “I still believe [Bitcoin] Shorts will run $17,200 before this is over. It needs to close above $16,580 to make it happen.”

On-chain analysis firm glass It tweeted that the total bitcoin market realized the loss “peaked” at $1.9 billion last Friday.

This is the fourth largest realized daily loss in history,” Glassnode said.

On the Ethereum side, sharks and whales titles continue to pile up with ETH prices less than a quarter of what they were a year ago.

“In October/November 2020, that’s 100-100k [ETH] Addresses helped pay [ETH] market intelligence platform Santiment said in a tweet.

read the following: Nouriel Roubini says ‘well done’ as New York bans carbon-intensive bitcoin mining

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