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.
| 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 |
| 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.
The total market value of # encrypt It is acting below the 200-week moving average, but it is still holding above the previous ATH in 2017. pic.twitter.com/SK4mYOSKJW
– Michael van de Poppe (CryptoMichNL) November 23, 2022
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.”
After an upward divergence earlier this week, BTC dollars Close to that level of $17,000.
I still think # Bitcoin Shorts will run $17,200 before this is over.
It needs to close above $16,580 to make it. https://t.co/9ADKuJe0Wz pic.twitter.com/y3oyYNaH6s
– Justin Bennett (@JustinBennettFX) November 23, 2022
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.
the total # Bitcoin The realized loss in the market peaked at $1.9 billion last Friday.
This is the fourth largest realized daily loss in history, coming after:
– $2.0 billion during the LUNA meltdown
– $2.2 billion in June 2021 bear start
– $2.5 billion in June 2022 – $20,000Live chart: https://t.co/VIgD2Xgaiv pic.twitter.com/5gBsUgnfZm
– glassnode (glassnode) November 23, 2022
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.
# EthereumActive whale shark and whale titles continue to pile up at less than a quarter of their prices # Every time levels a year ago. In October/November 2020, that’s 100-100k ETH dollars Addresses helped pay ETH dollars To a price that increases by +50% in 5 weeks. https://t.co/v8gh4RfV7z pic.twitter.com/Oe3lTo12uj
Saniment (@santimentfeed) November 23, 2022
read the following: Nouriel Roubini says ‘well done’ as New York bans carbon-intensive bitcoin mining
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