The two largest coins were traded on Sunday’s red night as the global cryptocurrency market capitalization fell 1.05% at press to $ 1.08 trillion.
|Bitcoin BTC / USD||-1.6%||3.3%||$ 23,314.77|
|Ethereum ETH / USD||-1.2%||5.1%||$ 1,678.08|
|Dogecoin Doge / USD||-1.9%||1.45%||$ 0.07|
|Cryptocurrency||24-hour rate of change (+/-)||price|
|Filecoin (Rose)||+ 25.1%||$ 9.94|
|Internet computer (ICP)||+ 9.5%||$ 9.03|
|Irweave (AR)||+ 6.2%||$ 15.58|
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Important reason: Cryptocurrencies, which performed well over the weekend, seem to be losing momentum for a new trading week.
Bitcoin hit a high of $ 24,572.58 over the weekend and has since shrunk 5.1% from these levels.
Cryptocurrencies remain consistent with stocks. S & P and Nasdaq futures fell 0.4% each during the press. For the new trading week, investors will be on the lookout for revenue data from the Bureau of Labor Statistics and a surge in non-farm payroll reports.
Cryptocurrency investors need to pay attention to the S & P 500, where less than 4,200 areas become “critical”, according to traders Justin Bennett.
Bennett pointed out the correlation between Bitcoin and the S & P500, saying that if the index sells, Apexcoin “is likely to follow” even if it takes a day or two.
why #crypto Bulls need to be careful next week.
— Justin Bennett (@JustinBennettFX) July 29, 2022
America Federal Reserve He points out that personal income and spending data remain strong, leaving room for more aggressive increases. Edward MoyaOANDA Senior Market Analyst.
“A few more inflation and employment reports will determine how the data-dependent Fed will behave after the summer,” Moya said in a memo that Benzinga saw.
Still, there are signs that cryptocurrencies may have abandoned the idea of ”winter” and are preparing for an ongoing summer bailout rally, he added.
“The’crypt winter’may be over, and it’s what we need to allow regurgitation into space,” Moya said.
Michael van de Poppe He said the so-called altcoin movement “occurs from side to side.”
Cryptocurrency traders have stated that short positions have been “suspended or cleared”. He said, “It’s a summer relief!”
#Altcoins It pops out to the left and right.
The moment they break the range, they start accelerating very quickly.
-Short positions will be stopped or cleared.
Position yourself well, more #altcoins Continue.
It’s a summer relief!
—Michaël van de Poppe (@CryptoMichNL) July 30, 2022
Investor sentiment index Alternative.Me’s “CryptoFear & Greed Index” showed “Fear” towards a new trading week. The index at the time of the press was 33, but last week it was 30. A value of 0 means “extreme fear” and a value of 100 means “extreme greed”.
Pioneer of decentralized finance Yearn.Finance’s The (YRN) token has crossed the $ 10,000 barrier for the first time since May 16 as DeFi assets have been separated from other altcoins, Santimento said.
#YearnFinanceThe price has rebounded above $ 10,000 for the first time since May 16th. #DeFi Asset has been detached from #altcoin pack. Note the addresses that hold over $ 1 million $ YFIBecause the holding amount is decreasing. https://t.co/YJsG2GI4oL pic.twitter.com/djmoIgnJB3
— Santiment (@santimentfeed) July 29, 2022
The Market Intelligence Platform tweeted:
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