leading cryptocurrency, BitcoinThe market failed to break a descending triangle pattern and fell 3% to $16,160 amid increased levels of FUD.
Similarly, the second most valuable cryptocurrency, EthereumBitcoin followed the lead and fell sharply by almost 5% to $1,171.
crypto market cap update
Global crypto market cap The previous day saw a 2% drop to $815.32 billion, sending the leading cryptocurrency into the red as early as Nov. 28. In the last 24 hours, the total crypto market volume increased by 22.10% to $41.69 billion.
The total DeFi volume currently stands at $2.60 billion, which is 6% of the total crypto market 24-hour volume. The total volume of all stable coins is now $38.85 billion, which is 93% of the total 24-hour volume of the crypto market.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Top Altcoin Pros and Cons
cello (celo), AppCoin (APE), And Yunus Sed Leo (LEO) are three of the top 100 coins that have gained value in the last 24 hours. The price of CELO is up more than 34% to $0.6970, the price of APE is up more than 13.5% to $3.70, and the price of LEO is up almost 7%.
Aptos (APT), Trust Wallet Token (TWT), and Lido DAO (LDO) are three of the top 100 coins that lost value over the past 24 hours, with APT trading down over 5.5% to $4.65 , TWT is down 4% to trade at $2. At the same time, the LDO price is trading at $1.09, down over 3%.
China lockdown triggers selloff in global markets
Cryptocurrencies declined on Monday amid investor jitters in global markets due to protests in China against Covid restrictions. Protesters angered by the harsh COVID-19 rules called for China’s strongman leader to step down.
It was a rare rebuke as authorities in at least eight cities on Sunday attempted to quell demonstrations that were a direct threat to the ruling Communist Party.
Discontent with President Xi Jinping’s famous zero-COVID policy nearly three years into the pandemic has sparked a surge of public defiance on the mainland not seen since President Hu Jintao took office a decade ago. was spotted.
The world’s second largest economy is also feeling the effects of the COVID-19 regulations. The protests, which began on Friday and spread to cities including the capital, Beijing, and dozens of university campuses, are the broadest expression of discontent against the ruling party in decades.
Shanghai protesters demanding Xi’s resignation and an end to one-party rule were dispersed by police with pepper spray, but returned hours later.
A reporter saw protesters who had been arrested and being taken away on a bus as police once again dispersed the demonstration.
What does China have to do with the crypto drop?
As the world’s second largest economy, China has significant influence on global financial markets; As a result, investors are looking for a safe haven to park their investments.
Stocks and crypto are not considered safe havens which is why we are seeing bearish price action today.
However, we could see a bullish reversal in bitcoin and other currencies as conditions in China improve and the protests subside.
Let’s take a look at bitcoin price predictions.
bitcoin price
the current bitcoin price $16,174 with a 24-hour trading volume of $25 Billion. During the past 24 hours, the BTC/USD pair has declined by approximately 2.5%, while coinmarket cap Currently ranked 1st with a live market cap of $310 billion, down from $318 billion yesterday. It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,218,643 BTC coins.
BTC/USD It was trading bearish on Monday after it was rejected below the $16,600 resistance, which was extended by a declining trend line. Bitcoin has formed a descending triangle pattern on the 4-hour time frame, which typically drives a selling trend.
Bitcoin is currently trading at $16,150 and it is correcting higher towards the immediate $16,000 support. Accordingly, the next level of support for bitcoin lies at $15,650, which is extended by the double bottom support level.
Leading technical indicators such as the RSI and MACD are in the sell zone, indicating significant selling pressure. The 50-day moving average is offering resistance at $16,450, indicating that the downtrend is likely to continue.
If buyers enter the market, a bullish breakout of the $16,450 level could send bitcoin to $17,000 in a matter of days.
ethereum price
current price of Ethereum $1,170, with a 24-hour trading volume of $5 billion. Ethereum is down about 4% in the last 24 hours. Coinmarketcap is currently ranked #2 with a live market cap of $143 billion. It has a circulating supply of 122,373,866 ETH coins.
in a time frame of 4 hours, Ethereum A “three black crows” has formed, indicating a strong selling trend. ETH/USD broke out of an ascending channel that was supporting the pair at $1,210 and is now acting as a resistance.
At $1,175, Ethereum has traded below the 50-day EMA, indicating a strong sell signal. On the downside, an immediate support for Ethereum lies at $1,150, which was previously held at the November 23 low.
The RSI and MACD indicators are also in the sell zone, suggesting that ETH could be targeting the $1,115 support.
On the upside, the key resistance for ETH remains the $1,185 level, and a break above it could take it towards the $1,235 level.
Pre-Sold Cryptocurrency With Huge Potential Profits
Dash 2 Trade (D2T)
Dash 2 Trade is an Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make better-informed decisions. The platform will go live in the first quarter of 2023, providing investors with information to help them make proactive trading decisions.
Dash 2 Trade, a platform for crypto trading intelligence and signals, has piqued investor interest after raising $7 million in just a month. As a result, the D2T team has decided to drop the project at Phase 4 and reduce the hard cap target to $13.4 million.
Dash 2 Trade has also been successful, with two exchanges (LBank and BitMart) pledging to list the D2T token after the presale ends. 1 D2T is currently worth 0.0513 USDT, but will increase to $0.0533 at the end of the sale. D2T has raised over $7 million to date by selling over 82% of its tokens.
Find the best price to buy/sell cryptocurrency
Bitcoin Crypto Related Post