The cryptocurrency market capitalisation fell 1.2% over the past 24 hours to $2.21 trillion. The cryptocurrency Fear & Greed Index reacted rather sharply, losing 6 points to 23 and slipping back into extreme fear territory, remaining in the lower half of the scale for over a month.Among the top coins, Solana (+3%) and Tera (+6%) fared best, while Polkadot (-3.8%) Cardano (-3%) fared worst.
Bitcoin, which is sensitive to demand from US tech stocks, has lost more than 2% in the past 24 hours to $47.5K. Its rate continues to walk around the 200-day average, reflecting either indecision or a balance of power between buyers and sellers. At the same time, this line itself has reversed downwards, and the RSI on the daily charts remains near the oversold area.
Both of these indicators point to a possible failure of the price shortly. A bearish scenario could bring bitcoin back to 40K or even 30K fairly quickly if we see another episode of margin liquidation. Large long-term buyers are unlikely to return before the price drops to $20K. Further evidence that the bears own the initiative in cryptocurrencies - ETHUSD is holding below $4000, confirming the shift from a rising to a downtrend in the last month. Should the sell-off intensify, potential buyers of Ether should look to $3350. The rally started from this level in early October, and now the 200-day moving average is near this mark. A break below it runs the risk of a buyers’ capitulation and would quickly land the rate at $2700. A longer-term bearish target is seen in the $1300-1700 area, where long-term buyers are expected.
The realisation of such a bearish scenario would return capitalisation to the $1 trillion area for the entire crypto market. This would be a slightly lesser failure than the top two currencies, as we believe that long-term investors are still looking for other projects outside of the two oldest currencies.Market Analyst live on the youtube channel.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 79.6% | 42 | $70 734.57 | 1.57% | 7.55% | $1 391 140 747 215 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 77.2% | 49 | $3 561.52 | 1.36% | 2.01% | $427 638 198 492 | ||
3 | USDT | Tether predictions | 96% | 1 | $1.000151 | 0.06% | 0.01% | $104 520 065 350 | ||
4 | BNB | Binance Coin predictions | 62.4% | 81 | $584.24 | -0.38% | 3.68% | $87 364 761 086 | ||
5 | SOL | Solana predictions | 58.8% | 88 | $188.44 | 1.04% | 5.47% | $83 742 639 571 | ||
6 | XRP | XRP predictions | 80% | 28 | $0.623217 | 1.40% | -1.26% | $34 204 799 381 | ||
7 | USDC | USD Coin predictions | 92.4% | 2 | $0.999973 | -0.02% | -0.02% | $32 465 083 721 | ||
8 | DOGE | Dogecoin predictions | 68% | 66 | $0.223035 | 9.88% | 44.61% | $32 041 022 250 | ||
9 | ADA | Cardano predictions | 69.2% | 65 | $0.648010 | -0.09% | 2.81% | $23 057 951 234 | ||
10 | AVAX | Avalanche predictions | 57.6% | 87 | $54.31 | 0.70% | 0.04% | $20 497 699 245 | ||
11 | SHIB | SHIBA INU predictions | 58.4% | 94 | $0.000032 | 2.06% | 16.86% | $18 604 490 488 | ||
12 | TON | Toncoin predictions | 61.6% | 87 | $4.91 | -0.21% | 21.37% | $17 033 025 216 | ||
13 | DOT | Polkadot predictions | 74% | 49 | $9.49 | 0.09% | 3.54% | $13 542 332 162 | ||
14 | LINK | Chainlink predictions | 77.6% | 42 | $19.11 | -1.18% | 4.52% | $11 221 582 819 | ||
15 | BCH | Bitcoin Cash predictions | 68.8% | 59 | $569.63 | 7.73% | 37.59% | $11 211 410 676 |
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