bitcoin was in the green on Sunday night, even as the global cryptocurrency market capitalization fell 0.3% to $1.1 trillion as of 8:20 p.m. EDT.
| currency | 24 hours | 7 days | price |
|---|---|---|---|
| bitcoin USD/BTC | 0.75% | 9.1% | $21,800.95 |
| Ethereal EUR/USD | -0.7% | 11.4% | $1,761.84 |
| doecoin DOGO/USD | -1.8% | 0.7% | $0.06 |
| cryptocurrency | 24 hour % change (+/-) | price |
|---|---|---|
| Celsius (CEL) | +14.8% | $1.60 |
| ApeCoin (BOW) | +10.65% | $5.61 |
| pancake swap (PIE) | +4.2% | $4.53 |
See also: How to get free NFT
Because it is important: Bitcoin and Ethereum traded mixed, even as stock futures rose marginally. S&P 500 and Nasdaq futures were up 0.1% and 0.2%, respectively, at the time of writing.
Over the weekend, Bitcoin broke above the $20,000 psychological mark and hit a high of $21,760.28, while Ethereum hit a high of $1,784.50.
“Bitcoin is welcoming the return of risk appetite and the decline of the US dollar. The broad market rally has rejuvenated crypto and that could continue if investors continue to look beyond aggressive central bank proposals and lingering recession risks,” he said. Edward MoyaSenior Market Analyst at OANDA.
Michael van de Poppe he said he is not looking for a “continuation to the downside” and there is even “force to the upside” as altcoins are starting to take better shape.
Markets are not looking for a continuation to the downside, there is even upside potential as #altcoins they are beginning to form better.
It could be a fun fourth quarter this year.
— Michael van de Poppe (@CryptoMichNL) September 11, 2022
The crypto trader said on Twitter: “Could be a fun Q4 this year.”
justin bennett took a more cautious note, tweeting: “The bulls have had their fun, but all the [crypto] the market is 5% below a massive resistance area.”
“Probably one more push up before the next leg down.” The trader reminded his followers that US inflation data will be released on Tuesday and Wednesday and to “expect volatility”.
Hope everyone had a great weekend!
The bulls have had fun, but all the #crypto the market is 5% below a massive resistance area.
Probably a push higher before the next leg down.
US inflation data from Tuesday and Wednesday, so expect volatility. $BTC $ETH pic.twitter.com/K8niV3xcE8
—Justin Bennett (@JustinBennettFX) September 11, 2022
Also expected this week is “The Merge”: Ethereum’s move from a proof-of-work mechanism to a proof-of-stake model, which is programmed by Thursday.
CoinMarketCap said in a recent note written with glass node that more than 11.2% of the circulating supply of ETH now participates in the PoS consensus.
Ethereum and EIP 1559 issuance fees – courtesy of Glassnode
“Given on-chain demand and therefore gas prices are currently very low, this highlights that with any significant increase in gas rate pressure, ETH can reasonably be expected to become an asset. of net deflationary supply”.
