On December 6, Bitcoin, the leading cryptocurrency, gave up most of its gains, with a loss of nearly 2% to trade at the $16,980 level. Most of the selling trend in the crypto market can be linked to the stronger US Dollar. Interest rate speculation rose on Monday after the US services index suggested the economy remained stable.
The Bloomberg Dollar Spot Index gained 0.8% after news that the Institute for Supply Management’s gauge of services unexpectedly rose in November, snapping a four-day losing streak.
EthereumThe second most valuable cryptocurrency lost ground and slipped below the psychological trading level of $1,300.
Major cryptocurrencies were trading in the green early on December 6, even though global crypto market cap It had fallen 0.86% to $856.36 billion on the previous day. In the last 24 hours, the total crypto market volume has increased by 26.48% to $40.21 billion.
The total DeFi volume currently stands at $2.84 billion, which is 7% of the total crypto market’s 24-hour volume. The total volume of all stable coins is now $36.63 billion, which is 91.10% 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
Ax Infinity (AXS), Synthetix (SNX)And stack (stx) Here are three of the top 100 coins that gained price in the last 24 hours. AXS price has risen almost 22% to $8.75; The price of SNX has increased by more than 7% to $1.96; LTC price has increased by about 3.5%.
Cronos (CRO), GMX (GMX)And cello (celo) There are three of the top 100 coins whose value has decreased in the last 24 hours. While CRO has lost about 7.5% to trade at $0.066, GMX is down about 6% to trade at $51.50. Meanwhile, CELO price is down more than 5% to trade at $0.6488.
bitcoin price
the current bitcoin price is $17,002, and the 24-hour trading volume is $19 billion. During the past 24 hours, the BTC/USD pair declined by almost 2%, while coinmarket cap currently ranks first with a live market cap of $357 billion, down from $363 billion yesterday.
It has a total supply of 21,000,000 BTC coins and a circulating supply of 19,225,600 BTC coins.
Following the release of higher than expected ISM Services PMI figures from the US, BTC/USD There was a sharp decline below the $17,385 level, erasing most of its gains.
Furthermore, the leading cryptocurrency was technically overbought, and a bearish correction was needed before it could turn higher. Early investors also booked profits, and new investors have good chances to enter the market above $16,850, a support level extended by the upward trend line.
The candles above $16,850 indicate high chances of a bullish reversal. On the upside, bitcoin may face resistance at $17,385; A bullish break above this level could open the doors for further buying towards $17,650 or $18,000.
On the downside, a break below the $16,840 support could extend the selling trend towards the $16,500 level.
ethereum price
current price of Ethereum $1,259, with a 24-hour trading volume of $5.5 Billion. Ethereum is down more than 2% in the last 24 hours. CoinMarketCap is currently ranked #2 with a live market cap of $154 billion. It has a circulating supply of 122,373,866 ETH coins.
on the 4 hour chart, Ethereum There was a drop to the previous support area of $1,250, and the close of candles above this level has the potential to drive a rebound. On the upside, ETH could go after the $1,300 resistance. The bullish bias remains strong, as the 50-day moving average is near $1,250.
On the other hand, the RSI and MACD have recently entered the sell zone, indicating a sell trend in ETH. But I believe this is just a bearish correction, and the bulls remain bullish until $1,250 is reached.
The increasing selling pressure could result in a bearish breakout that could lead to more selling towards the $1,220 or $1,185 levels. Let’s keep an eye on $1,250 today as it is likely to act as a major pivot point.
Axi Infinity jumps 30%
The current price of AXI Infinity is $8.71 with a 24-hour trading volume of $716 million. AXI Infinity has gained more than 21% in the last 24 hours. Coinmarketcap is currently ranked #50 with a live market cap of $869 million. There are 99,854,114 AXS coins in circulation and a maximum supply of 270,000,000 AXS coins.
Earlier this year, it was hinted that Axi Infinity would eventually go towards decentralization, and now we have concrete evidence of that, plans were already in motion to guarantee this. AXI tweeted on December 5 that it has begun a process of progressive decentralization.
The company has issued a statement saying that it has been formally launched under the name “Town Builders”. Axie feels that the town builders established a firm basis for local government.
Another new addition to Axie is a feature called Axie Contributors. Participants will learn from Town Builder-led discussions, forge new friendships, and test different forms of community leadership. Town builders and donors would work together to create a framework for local government. Hence, it is accelerating the Axie trend.
IMPT Pre-Sale Ending Soon: 1 Week To Buy
IMPT Yet another Ethereum-based network that will reward users for doing business with environmentally conscious companies. These benefits will be provided by the company’s IMPT token, which can be used to purchase NFT-based carbon offsets, which can then be sold or retired.
Since its initial public offering in October, IMPT has raised over $14 million1 is currently trading at $0.023 with IMPT.
Due to its extraordinary success, IMPT.io, a leading platform for carbon offsetting and carbon credit trading, Token Presale on 11th December,
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