Bitcoin and ether were even traded as globally in the red on Monday evening cryptocurrency The market cap rose 0.07% to $1 trillion as of 9:15 p.m. EDT.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | -0.5% | 5.9% | $20,470.95 |
| ether ETH/USD | -0.9% | 16.9% | $1,572.28 |
| Dogecoins DOGE/USD | 0.6% | 111.3% | $0.125 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| Chain (XCN) | +26.6% | $0.06 |
| OKB (OKB) | 6.7% | $17.22 |
| The sandbox (SAND) | +4.5% | $0.90 |
See also: eToro vs. Coinbase – Coins, Security and Support
Why it matters: Even as two of the largest coins declined on Monday, Dogecoins kept his head above the water. The meme coin was trading higher around the $0.125 level at the time of writing.
The top coin followed stock prices on Monday, with the tech-heavy Nasdaq ending the day nearly 1% lower. The S&P 500 fell 0.75%. At the time of writing, US stock futures are trading flat.
Investors will be keeping an eye on the Federal Open Market Committee meeting scheduled for Tuesday, as well as nonfarm payrolls due Friday. US Federal Reserve Jerome Powell is Rate hike expected by 75 bps.
“All major global manufacturing data shows that the economic slowdown is getting uglier,” he said Edward Moya, a senior market analyst at OANDA. “Bitcoin continues to hover around $20,000 as Wall Street hopes the Fed will provide evidence that we are much closer to the end of tightening.”
“Some traders are confident a bottom is in, options market activity shows the need for downside protection is easing. This will be the crucial last two months of the year which should trigger a move outside of the $17,500 and $25,000 trading range.”
Michael van de Poppe sees a correction tomorrow or Wednesday ahead of the actual FOMC.
We’ll probably have a correction tomorrow or…
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