Bitcoin And the EthereumThe two largest currencies by market cap, traded in the red on Sunday evening as the global cryptocurrency market cap fell 3.1% to $927.2 billion at the time of writing.
| corner | 24 hours | 7 days | price |
|---|---|---|---|
| Bitcoin Bitcoin / US Dollar | -3.6% | 7.9% | 20803.80 dollars |
| Ethereum ETH / USD | -4.04% | 8.8% | USD 1166.98 |
| Dogecoin DOGE / USD | -3.3% | -1.9% | 0.07 dollars |
| Cryptocurrency | Change by 24 hours (+/-) | price |
|---|---|---|
| TerraClassic US dollar (USTC) | + 5.95% | $0.05 |
| Chili’s (CHZ) | + 3.6% | $0.11 |
| corn (myota) | + 2.4% | $0.30 |
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why does it matter: The major currencies reversed the bullish momentum on Sunday ahead of the new trading week.
Stock futures are seen in negative territory at press time with S&P and Nasdaq futures down 0.2% and 0.35%, respectively.
Next trading week will see the June release Consumer Price Index (CPI) data on Wednesday and a number of key earnings releases from major companies.
Data released last week showed that the US added 372,000 jobs in June, which means the economy is not slowing down quickly and the Federal Reserve has room to increase its interest rate by 0.75% this month.
“Focus quickly turns to next week’s CPI report and even mildly hot inflation numbers will allow the Fed to tighten again by 75 basis points. If inflation offers another bullish surprise, the September meeting could see expectations fully pricing in a half point rate hike. , but that could easily go up to 75 basis points,” said OANDA’s senior market analyst. Edward Moyain a note seen by Benzinga.
On the major currency, Moya said, “Bitcoin has stabilized even as risk aversion remains the dominant mindset on Wall Street.”
Alternative.me’s ‘Crypto Fear & Greed Indicator’ continues to show ‘extreme fear’ in the new trading week. The index read 22 at press time, while last week it was at 14. A value of 0 represents “extreme fear”, while 100 indicates “extreme greed”.
Michael van de Poppe He expects a “huge boost” for bitcoin in what he calls a “fun week”.
I reached a great support level here for # bitcoin + The CME gap is about $21.8 thousand.
It’s going to be a fun week and I think we’ll see a continuation of the bullish trend.
Back tomorrow with live broadcast! pic.twitter.com/u9TyyMIjLE
– Michael van de Poppe (@CryptoMichNL) 10 July 2022
“I think we will see a continuation of the bullish trend,” the crypto trader said on Sunday.
during the Weekend, glass Founders yan wyan He said that significant liquidity is waiting to be used on the sidelines. They tweeted that it is a matter of time rather than whether this will be published in reference to the upcoming FOMC meeting.
# bitcoin He keeps the $20,000 level. An increase in the stablecoin market cap share indicates oversold #BTC We have a daily time frame
Great liquidity is sitting on the sidelines. It is a question of when (the FOMC) and not the redistribution of capital
Full analysis https://t.co/awlgT8OWoY pic.twitter.com/feD84V486Y– Negentropic (@negenttropic_) July 8, 2022
On Ethereum, the scheme Ali Martinez He said he was waiting for the second largest coin by market cap to “print the four-hour candlestick close” above the $1,290 level to enter a long position targeting $1,670.
# Ethereum I am waiting ETH dollar To print a sustainable 4-hour candle close above $1,290 to enter a long position #ETH Trade, targeting $1,670. https://t.co/KankdDypl pic.twitter.com/J3FI1THBKx
– Ali Martinez (@ali_charts) July 8, 2022
Justin Bennett He said the cryptocurrency market is “struggling” to sustain the gains made over the past few days. The analyst tweeted that the total market capitalization failed to hold above the May trend line on the four-hour chart. He noticed similar price action from Ethereum and was waiting for Bitcoin to do the same.
Markets are already struggling to hold on to these gains. Total in dollars It failed to hold above the May trend line on the 4 hour chart.
See similar price action from ETH dollar. Now you are waiting BTC dollars. pic.twitter.com/sESNxG4wvI
– Justin Bennett (@JustinBennettFX) July 8, 2022
read the following: This Trader Says An Unexpected Bitcoin Rally Will Happen In 2022, He Predicts BTC Will Be Six-Digit By 2023
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