Bitcoin, Ethereum, Dogecoin Trading Mixed: Analyst Issues ETH Warning

Bitcoin, Ethereum, Dogecoin Trading Mixed: Analyst Issues ETH Warning


The major coins traded mixed Tuesday night, buoyed by the latest chapter in banking turmoil and the release of cooler-than-expected jobs data.

cryptocurrency gains +/- Price (taken at 9:30pm EST)
Bitcoin BTC/USD +1.79% $28,574
ether ETH/USD +1.76% $1,865
Dogecoins DOGE/USD -0.13% $0.078

What happened: Bitcoin gained momentum on Tuesday during US trading hours as investors renewed interest in cryptocurrencies and other valuable assets.

At the time of writing, the global crypto market cap was $1.18 trillion, up 1.18% from the last day.

The US stock market turned south during Tuesday’s close S&P500 Trade down 1.1% and tech-heavy Nasdaq composed decreased by about 1%.

The latest report from the Department of Labor shows that US job vacancies fell for the third straight month in March, while layoffs rose to the highest level in over two years. The job market remains highly competitive, with just 1.6 vacancies for each unemployed person in March, the lowest since October 2021.

See more: Best Crypto Day Trading Strategies

Analyst Notes: “Bitcoin is back as banking jitters return quickly. Bitcoin is up 3% on the day but still seems capped by the $30,000 mark. Today’s banking turmoil was expected in the coming months, not tomorrow due to a massive bank bailout. Bitcoin will become more attractive again in the face of bad finances being hit,” said Edward Moyasenior market analyst at OANDA.

Cryptocurrency Analyst Michael delivery trucks by Poppe assesses Bitcoin’s latest trends, explaining that while this is a good move, the direction remains uncertain. Van de Poppe claims that if Bitcoin hits $29,200 ahead of the FOMC meeting, there is a good chance we will see an uptrend. However, if that doesn’t happen, we could get stuck in the same move lower for now.

Van de Poppe also offers insight into altcoins, explaining that they are not…


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