Cryptocurrency
Market Wrap: Bitcoin Flat at $56.7K, Ether Rises and Today Wasn’t DOGE’s Day
Market Wrap: Bitcoin Flat at $56.7K, Ether Rises and Today Wasn’t DOGE’s Day Bitcoin price takes a pit stop with ether and dogecoin stealing the spotlight. Reported by CoinDesk.com “The bitcoin market takes a breather, ether flashes green and recent data suggests joke cryptocurrency dogecoin is more volatile than most major altcoins. Bitcoin (BTC) trading around […]
Market Wrap: Bitcoin Flat at $56.7K, Ether Rises and Today Wasn’t DOGE’s Day
Bitcoin price takes a pit stop with ether and dogecoin stealing the spotlight.
Reported by CoinDesk.com
“The bitcoin market takes a breather, ether flashes green and recent data suggests joke cryptocurrency dogecoin is more volatile than most major altcoins.
- Bitcoin (BTC) trading around $56,665 as of 21:00 UTC (4 p.m. ET). Gaining 1.6% over the previous 24 hours.
- Bitcoin’s 24-hour range: $53,780-$56,574 (CoinDesk 20)
- BTC close to the 10-hour and 50-hour moving average on the hourly chart, a sideways but rising and trending bullish signal for market technicians.
Despite going as high as $56,574 to as low as $53,780 over the past 24 hours, bitcoin’s price is relatively sideways since 0:00 UTC on Tuesday (8 p.m. ET Monday). It’s a respite for a market that saw a deep dive during the weekend as record-high action in the derivatives market saw the price of the world’s oldest cryptocurrency drop to $53,787 according to CoinDesk 20 data.
Katie Stockon, a technical analyst for research firm Fairlead Strategies, noted in her weekly outlook that the bitcoin market is in a “risk-off” mode, meaning investors could be pushing the sell button to move into other assets such as cash.”
Read the full article at CoinDesk.com