Mooners And Shakers: Bitcoin And Crypto Market Attempt Recovery From Messy Weekend
Mooners and Shakers is sponsored by Dacxi, the world's first dedicated Crypto Wealth platform.
Okay, where were we? Oh yes, Bitcoin and Ethereum are hungover and DXY is on the rise again. After the big drop over the weekend, all cryptocurrency races remain unfinished, but the speaker's voice tells us to be patient.
If you skipped it and just enjoyed your weekend like you probably should, the entire crypto market lost about $100 billion in the last few days.
Does this mean that the bears have regained full control? As many of them can. Crypto Fear & Greed Index, the most popular sentiment tracker, suggests this. It's also a pretty big drop for this figure as it was pretty weak last week and piled on opium.
However, two cryptocurrencies, Bitcoin and Ethereum, have managed to survive Rambo - first Blood-style falling on a tree branch or two on the way down.
Let's see...
10 best reviewsAccording to CoinGecko, the total market capitalization of the cryptocurrency is $1.08 trillion, which is about 2.4% more than yesterday. Here is the current state of the top 10 tokens.
Market leading assets Bitcoin (BTC) and Ethereum (ETH) fingers are turning again on their latest chart. They bounced back a bit on Monday (AEST) as another week-long close approaches in the eastern states of the US where it seems to be the most important thing for this kind of thing on Crypto Twitter.
The world's most popular orange cryptocurrency fell to just under $21,000 on Saturday, but found support there and licked its wounds for most of the day at $21,500 ... at the time of writing.
Similarly, ETH merge-tastic (well, not yet) did something similar with a local low of $1550 and a recovery around $1620 where it currently stands.
Unreliable weekend price? Cryptocurrency is known for this. Again, analyst Michael van de Poppe called this "a lot of organic junk" for Bitcoin, and given the possibility of a downward trend, there is still a bottom in the market. He posted this yesterday…
Meanwhile, another well-known long-time BTC analyst, Kiwi network data guru Willy Wu, is also calling for an accumulation zone, showing that he believes Bitcoin is close to a low. But not everyone has…
However, as the US dollar suddenly regains strength, Wu sees no major rally or bull market in the foreseeable future. Perhaps it's a longer and more volatile consolidation like 2018 that could finally reward the average patient spending dollars. In good weather it should be a big challenge for the moon lambo crowd.
For the rest of the top 100, with market capitalizations ranging from $8.46 million to $444 million, we find some of the biggest 24-hour gains and losses at press time. (Statistics correct at time of publication based on data from CoinGecko.com.)
STAIN DAILY
• Lido DAO (LDO), (market cap: $1.24 billion) +14%
• Synthetix Network (SNX), (m3: $704 million) + 8%
• Frax Share (FXS), (m3: USD 454 million) + 6%
• EOS (EOS), (m3: $1.56 billion) + 6%
• NEXO (NEXO), (m3: $516 million) + 5%
DAILY COLUMNS
• Celsius (CEL), (market cap: $948 million) -12%
• Huobi BTC (HBTC), (price: $823 million) -1%
• Stacks (STX), (m3: $529 million) -1%
• Grid (XCN), (m3: $1.95 billion) -1%
• STEPN (GMT), (m3: USD 481 million) -0.5%
around the blocksA selection of incidents and relevance that have accompanied us through the Crypto Twitterverse since our morning shift…
Some Thoughts on the Ethereum Merger…
A couple of NFT beers…
Some unstoppable bitcoin sales by Sailor…
Nothing… but somehow it seems like a decent metaphor for investing in cryptocurrencies. (Only FBI off-screen agent Johnny Utah watches.)
However, this is perhaps the best extended metaphorical reference…
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