Bitcoin's red candle streak is bearish for crypto. Bitcoin reversed from $23,433, a strong resistance zone for several days, today.
Derivates display positive funding rates, indicating that cryptocurrency will turned in the green for the next few hours.
The Crypto market is Bearish as Bitcoin continue the day candle streak in Red. Today, Bitcoin reversed from $23,433 which is a major resistance zone for the last few days. Bitcoin is trading at $23,003, taken support of MA21 and RSI remains negative at 62.54. The global crypto market cap remained above the psychological $1 trillion level, the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) –Bearish.
This week, BTC crossed $24,000 for the first time in five months, which was excellent for the cryptocurrency sector. Institutional investors, who are boosting their holdings in preparation of the next bull run, are the main drivers of the demand for BTC. The recent recovery of the cryptocurrency market, which has seen the total market value of the sector return to $1 trillion, has been mostly driven by retail investors.
The global cryptocurrency market cap fall by 0.14% to $1.11 trillion in the last 24 hours, according to CoinGabbar data at the time of writing. The total crypto market volume over the last 24 hours was $58.71 billion.
Cryptoquants Derivates shows positive funding rates which means crypto will remains green in the coming hours.
BTC price has fall by 1.71% in the last 24 hours. At the time, BTC was trading at $23,003, and lost the support from MA9 to MA21, which indicates a bearish move. In the last 7 days, BTC price has rise by 0.42%. Bitcoin (BTC) dominance rise from 40.01% to 40.16% while ETH dominated 20.3% of the total crypto markets.
Ethereum (ETH): Ethereum price fall by around 2.28% to $1,628 in the last 24 hours. In the last 7 days, ETH price has rise by over 3.78%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.
Solana (SOL): Solana price fall 3.62% to $23.54 in the last 24 hours. In the last 7 days, SOL price has fall by nearly 2.359%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.
Dogecoin’s (DOGE) price fall by 3.94% in the last 24 hours. DOGE is currently ranked 9th. The price of DOGE at the time of this report was $0.09254.
Polygon (MATIC) price fall by around 4.29% to $1.2096 in the last 24 hours. In the last 7 days, MATIC price has rise by around 5.53%. It is currently ranked 11th on CoinGabbar.
Shiba Inu (SHIB) rise by 3.06% in the last 24 hours to $0.00001413. It is currently ranked 13th on CoinGabbar.
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