Bitcoin and ether were trading near flat on Thursday evening ahead of the bank holiday weekend as the Global cryptocurrency The market cap rose 0.2% to $811.2 billion as of 7:16 p.m. EST.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | -0.6% | -3.15% | $16,817.27 |
| ether ETH/USD | 0.3% | -3.9% | $1,217.56 |
| Dogecoins DOGE/USD | 4% | -9.45% | $0.08 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| Neutrino USD (USDN) | +7.4% | $0.56 |
| Terra classic (LUNK) | +5.7% | $0.00014 |
| Dogecoins (DOG) | +4% | $0.08 |
See also: A guide to automated crypto trading for beginners
Why it matters: While the two largest cryptocurrencies have been largely lackluster in terms of price action, the Leitwether meme coin, Dogecoinswas included in the list of top intraday winners.
Hopes of a “Santa Claus” rally faded on Thursday as a sell-off in risky assets returned. Tech stocks were hit after a Numbers of the most important chip manufacturers brought demand concerns to the fore.
On Thursday, the S&P 500 and Nasdaq closed down 1.45% and 2.2%, respectively. US stock futures were considered largely unchanged at the time of writing.
“Bitcoin and Ethereum are lower today as risk aversion is rampant on Wall Street. Tech stocks get hit hardest, thanks micronand that appears to be keeping pressure on all rate-sensitive sectors,” he said Edward Moyaa senior market analyst at OANDA.
Michael van de Poppe described Bitcoin’s price action as “beautiful” on Thursday. The cryptocurrency trader said that the Apex coin “hit support,” has “had a strong bounce since,” and is now in a “resistance” zone.
He said that with this reaction from bitcoin -$17,400 seems like a likely level and it was long above the $16,800 -$16,900 level.
dealer Justin Bennett said it was difficult to “expect” much downside from the dollar index…
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