The two largest coins rose over the past 24 hours on Wednesday night, as the global cryptocurrency market cap rose 0.7% at press time to $976.6 billion.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | 1.2% | -6.05% | $20,082.73 |
| ether ETH/USD | 1.8% | -6.05% | $1,557.15 |
| Dogecoins DOGE/USD | -0.4% | -9.6% | $0.06 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| Lido DAO (I DO) | +10.4% | $1.97 |
| chilli (CHF) | +9.7% | $0.21 |
| Curve DAO token (CRV) | +8.2% | $1.15 |
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Why it matters: Ethereum’s intraday gains are better than Bitcoin’s at press time. Cryptocurrencies shrugged off weakness in stocks.
The S&P 500 and Nasdaq futures fell 0.6% and 1.1%, respectively, with US stocks ending August lower.
“Bitcoin is hovering around $20,000 despite global stock market weakness. The next big move for bitcoin will likely come after the non-farm payrolls report, which may show signs of cooling and spark a near-term recovery rally,” he said Edward Moyaa senior market analyst OANDA.
Martin HiesboeckHead of blockchain and crypto research at a multi-asset digital trading platform Keepsaid: “We do not expect [Bitcoin] & Ethereum are suffering from monetary policy per se. Further tightening is needed to bring prices down.”
“If and when they do, investors will have more disposable income to return to the digital asset market. However, tightening will also cause problems in the pension market (Italy first) and the housing market (US) and lead to job losses.”
Michael van de Poppe noted on Twitter that Bitcoin is holding crucial levels and has seen a “rapid recovery.”
“This needs to continue and break $20,250 in the coming hours if it is to show strength and follow this path,” said the cryptocurrency trader.
#Bitcoin holds a crucial level and …
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