Bitcoin
BTC$69 187.87

-0.65%

Ethereum
ETH$2 486.25

-1.16%

Tether
USDT$0.999719

0%

Binance Coin
BNB$567.27

-1.13%

Solana
SOL$165.45

-0.87%

USD Coin
USDC$1.000009

-0.01%

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 76.8% 40 $69 187.87 -0.65% 3.36% $1 368 322 703 656 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 86% 21 $2 486.25 -1.16% 0.52% $299 369 696 897 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.999719 0% 0.10% $120 542 832 225 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 94.4% 4 $567.27 -1.13% -2.57% $81 744 111 407 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 66.4% 65 $165.45 -0.87% -2.98% $77 895 836 424 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000009 -0.01% 0.01% $34 873 123 501 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 90.4% 5 $0.510368 -0.91% -0.36% $29 023 926 568 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 64% 77 $0.157946 -1.96% 15.80% $23 159 704 045 DOGE 7 days price change
9 TRON (TRX) TRX TRON predictions 91.6% 4 $0.165396 -1.20% -0.10% $14 299 090 322 TRX 7 days price change
10 Toncoin (TON) TON Toncoin predictions 89.2% 13 $4.87 -0.97% -0.72% $12 398 878 230 TON 7 days price change
11 Cardano (ADA) ADA Cardano predictions 90.8% 7 $0.345970 -4.09% 4.24% $12 107 228 142 ADA 7 days price change
12 Lido stETH (STETH) STETH Lido stETH predictions 93.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 80.8% 28 $0.000017 -1.95% 2.59% $10 229 752 246 SHIB 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 90.8% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 92% 1 $65 806.83 0.78% -2.68% $10 083 957 608 WBTC 7 days price change

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