Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD) – Bitcoin, Ethereum, Dogecoin Muted: Are Traders In For Pain Ahead As Analyst Says ‘Bulls Have Had Their Fun?’

Bitcoin was in the green on Sunday evening, even as the global cryptocurrency market capitalization fell 0.3% to $1.1 trillion as of 8:20 p.m. EDT.







Price performance of major coins
Piece of money 24 hours 7 days Price
Bitcoin BTC/USD 0.75% 9.1% $21,800.95
Ethereum ETH/USD -0.7% 11.4% $1,761.84
Dogecoin DOGE/USD -1.8% 0.7% $0.06







Top 24 hour gainers (data via CoinMarketCap)
Cryptocurrency % change over 24 hours (+/-) Price
Celsius (CEL) +14.8% $1.60
ApeCoin (MONKEY) +10.65% $5.61
Pancake Swap (CAKE) +4.2% $4.53

See also: How to get free NFTs

Why is this important: Bitcoin and Ethereum traded mixed, although stock futures rose slightly. S&P 500 and Nasdaq futures were up 0.1% and 0.2%, respectively, at the time of writing.

Over the weekend, Bitcoin broke through the psychological $20,000 mark and hit a high of $21,760.28, while Ethereum hit a high of $1,784.50.

“Bitcoin hails the return of risk appetite and the falling US Dollar. The broad market rally has rejuvenated cryptos and that could continue if investors continue to look past the central bank’s hawkish openings and trades. persistent recession risks,” said Edouard Moyasenior market analyst at OANDA.

Michael van de Poppe said the markets are not looking for a “continuation downside” and that there is even “upside force” as altcoins are starting to shape better.

The cryptocurrency trader said on Twitter: “This could be a fun fourth quarter of this year.”

Justin Bennett struck a more cautious note and tweeted, “Bulls had fun, but the whole [crypto] the market is 5% below a massive resistance zone.

“Probably another push higher before the next step down.” The trader reminded his followers that US inflation data is due Tuesday and Wednesday and they “expect volatility.”

Also expected this week is “The Merge” – Ethereum’s move from a proof-of-work mechanism to a proof-of-stake model, which is scheduled for Thursday.

CoinMarketCap said in a recent memo written with glass knot that more than 11.2% of the circulating supply of ETH is now participating in the PoS consensus.

Ethereum Issuance and EIP 1559 Burn Rate – Courtesy of Glassnode

“Given the on-chain demand, and therefore very low gas prices at the moment, this underscores that with any significant increase in pressure on gas charges, it can reasonably be expected that the ‘ETH becomes a net deflationary supply asset.’

Read more : After predicting Bitcoin at $100,000, crypto analyst Anthony Pompliano now says “price predictions are fools’ game”

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