ETH And BTC Consolidate At Key Levels, Calm Before The Storm?
The ETH and BTC consolidate both at key levels and the market remained at a tipping point waiting to have the direction determined so let’s read have a closer look at today’s latest cryptocurrency news.
The crypto market remains at a tipping point as both ETH and BTC consolidate at key levels so the past 24 hours saw both coins and other major cryptocurrencies consolidate around the important levels with the performances likely to determine the direction going forward. The price of BTC is the same as 24 hours ago and the crypto remained flat at the $24K level which is an important barrier but a break above the said place, this might clear the way for further gains.
Source Quantify Crypto
Despite the relative calmness, the market saw about $200 million worth of liquidated long and short positions but the leader in the department was ETH with $77 million after BTC with $27 million. The chart visualizes the range BTC was trading within the past weeks and the importance of the $24K level. The majority of the altcoins are trading flat over the past day like Bitcoin. Ethereum is at the same price as it was yesterday with the same being said for many major coins as seen in the image below.
With that said, Polkadot’s DOT is the biggest outlier and the exception from the above and the crypto soared by 8% in the past day and surged itself a place to the top 10 by means of market cap. The general market sentiment is improving and the fear and greed index, the most commonly used metric to gauge the sentiment and now sits at 42 points which is indicative of the fear but not as bad as it was a few weeks ago when it clocked at 10.
BTC 7-day Price Chart (Source: coingecko)
Bitcoin might be down over 65% from the November 2021 ATH of above $69,000 but it is having a great time in July. Bitcoin surges 19% in the past 30 days and it is yet to have one of its best months since last year. The digital asset at the time of writing was trading for $24,094 and it marked a seven-day increase of 3% but most importantly, Bitcoin’s 30-day rise Is the biggest surge it had since October.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]