Bitcoin
BTC$27 699.62

-1.47%

Ethereum
ETH$1 755.65

-1.77%

Tether
USDT$1.002084

0.05%

Binance Coin
BNB$324.93

-3.40%

USD Coin
USDC$0.999104

0.05%

XRP
XRP$0.443389

-2.43%

Buyers have returned to cryptocurrencies


24 Sep 2021

#Bitcoin

The cryptocurrency market is bouncing upward along with the traditional market and is even ahead of the scale of growth. Over the past 24 hours, the top 10 coins were in the green zone. The total capitalization of the crypto market increased by $120 billion during the day. Nevertheless, this indicator remains below the threshold of $2 trillion. Investors began to buy on the fall rather quickly, indicating a high demand. However, it is worth understanding that these may be short-term positions, and a rapid rebound in cryptocurrency prices may lead to equally rapid profit-taking.

Bitcoin has added almost 4% over the past 24 hours

The decline of the Bitcoin dominance index confirms the presence of widespread demand for cryptocurrencies. This indicator is now at 41.9%, reflecting investor interest in altcoins. Bitcoin has added almost 4% over the past 24 hours and is trading around $44,000. Nevertheless, so far, the coin has failed to offset the scale of the recent correction. Over the past 7 days, Bitcoin has been losing about 9%.

Bitcoin dominance is now at 41.9%

The Crypto Fear & Greed Index for Bitcoin and major cryptocurrencies is at 27, which corresponds to the “fear” mode.  The RSI index for the BTCUSD on the daily chart is in the neutral zone near the “45” mark, showing moderate growth.

BTC/USD Daily Chart

In general, it can be noted that the crypto market now faces uncertainty about future prospects, and in such periods there is increased attention to the actions of the BTC whales. Regardless of Bitcoin’s declining dominance index, everyone understands that the first cryptocurrency is the main engine of the crypto market.

Arcane Research, an analytics company, notes a divergence in the actions of the “first whales” and the “new whales of 2020-2021.” The company’s analysis shows that “new whales” may be prone to profit-taking, while “first whales” prefer to accumulate BTC on price declines. The trigger for the crypto market may be data on active coin sales, which have been unmoved for about a decade.

The cryptocurrency community also speculates that we may now be witnessing the division of the largest participants in the crypto market into several camps. Both sides are interested in maximizing profits, but in the case of the “long whales,” they also want to own as many coins as possible as they approach the asset issue ceiling. It is this type of investor that can now keep the crypto market from collapsing during episodes of deep corrections.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 72.8% 51 $27 699.62 -1.47% 12.37% $535 312 178 703 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82% 34 $1 755.65 -1.77% 5.94% $214 845 385 726 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.002084 0.05% -0.07% $77 597 684 287 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 77.2% 47 $324.93 -3.40% 1.29% $51 303 068 387 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.4% 2 $0.999104 0.05% -0.05% $34 688 583 156 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 87.2% 17 $0.443389 -2.43% 21.62% $22 591 077 684 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 62.4% 82 $0.121831 18.79% 50.10% $21 126 843 527 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 73.6% 46 $0.372955 -0.19% 14.21% $12 948 673 638 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 94.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 68.8% 57 $0.075250 -0.62% 6.67% $9 983 489 971 DOGE 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 71.2% 51 $1.12 -1.27% -0.90% $9 820 053 978 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 70.4% 54 $21.73 -2.22% 11.16% $8 340 660 175 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $0.999536 -0.06% -0.06% $8 060 283 229 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 74% 51 $6.20 -1.07% 3.53% $7 249 289 155 DOT 7 days price change
15 Litecoin (LTC) LTC Litecoin predictions 68.4% 58 $88.07 8.87% 11.63% $6 388 980 451 LTC 7 days price change

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