Bitcoin, The leading cryptocurrency failed to stay above the $16,900 support, which is now acting as a major resistance. whereas EthereumThe second most valuable cryptocurrency also surpassed a key support at $1,240, which was extended by an ascending channel.
Given this, BTC and ETH are likely to trade bearish.
Major cryptocurrencies traded unevenly globally early on December 8th crypto market capitalization It fell 1.87 percent to $839.72 billion on the previous day. In the last 24 hours, the total crypto market volume increased by 2.40 percent to $36.85 billion.
Let’s take a look at the top 24-hour altcoin gainers and losers.
Top Altcoin Pros and Cons
Nexo (Nexo), EOS (EOS)And Synthetix (SNX) Here are three of the top 100 coins that gained price in the last 24 hours. NEXO price has increased by almost 3.50% to $0.6675; EOS price rises by more than 2% to $0.9795; The price of SNX is up about 2.6%.
Ax Infinity (AXS), invariant x (imx)And Dash (Dash) There are three of the top 100 coins whose value has decreased in the last 24 hours. While the price of AXS is down by almost 8.5% to trade at $8.15, IMX is down by almost 8% to trade at $0.4375. At the same time, the price of DASH is down by more than 8% and is trading at $43.75.
Celsius Customer to Receive $44M in Crypto from Bankruptcy
The funds include cryptocurrency that was previously held in accrual accounts, but has since been moved to a custodial account on Celsius. A federal judge has ordered cryptocurrency lending platform Celsius to return $44 million worth of cryptocurrency to users of its custody program.
Bloomberg reports that United States Bankruptcy Judge Martin Glenn issued oral instructions on December 7 during a hearing, saying:
“I want this case to go ahead. I want the creditors to recover as quickly as possible.”
According to a Dec. 5 report from Bloomberg, Celsius is looking to sell $18 million of stablecoins held in these accounts to fund its restructuring, while Glenn is set to address the issue of ownership of the funds on Dec. 12.
Celsius has argued that users who deposited funds into their accrual accounts gave up ownership of the funds when they agreed to the company’s terms of service.
US unemployment claims in focus
Later today, investors’ focus will be on US jobless claims, which are due to emerge during the US session. In the week ending November 26, the number of people applying for unemployment benefits fell to 225,000. The Labor Department reported on December 1 that there were 16,000 fewer applications than the previous week when there were 241,000 applications. The average number of claims increased from 1,750 to 227,000 over the four weeks, canceling weekly swings.
Initial jobless claims fell to 225K from an estimated 235K for the week – indicating higher than expected initial claims for unemployment insurance in the United States. The number of people receiving unemployment benefits is a surrogate measure of job losses.
In light of these findings, it is clear that American workers still have exceptional job security, despite obvious economic vulnerabilities.
bitcoin price
current price of bitcoin $16,825, and a 24-hour trading volume of $19 billion. The BTC/USD pair is down almost 1% in the last 24 hours, while coinmarket cap currently ranks first with a live market cap of $323 billion, down from $357 billion yesterday.
Due to the strengthening of the US Dollar, the BTC/USD pair broke below the $16,900 support, which is now acting as a resistance. In this scenario, BTC could drop further towards the next support at $16,500 or $16,000.
On the other hand, a bullish breakout above $16,900 could expose BTC price towards $17,200 or even $17,350.
ethereum price
current price of Ethereum $1,229, with a 24-hour trading volume of $5 billion. Ethereum is down almost 2% in the past 24 hours, and is currently ranked second on Coinmarketcap with a live market cap of $150 billion.
on the 4 hour chart, Ethereum The ascending channel that was supporting the coin at $1,238 has been broken. Candles closing below this level indicate the possibility of a continuation of the downtrend.
On the downside, an immediate support for Ethereum is near the $1,200 level, and it could slide as low as $1,180 or $1,150. On the other hand, Ethereum is facing resistance between $1,240 and $1,280.
IMPT pre-sale ends in 4 days
IMPT There is a new Ethereum-based network that will reward users for doing business with environmentally conscious companies. IMPT has Raised over $15.6 million Since its initial public offering in October, 1 IMPT is currently trading at $0.023.
IMPT.io will be a new platform for carbon offsetting and carbon credit trading End its token presale Due to its extraordinary success on 11 December.
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