Bitcoin
BTC$29 380.18

-3.28%

Ethereum
ETH$1 959.56

-5.15%

Tether
USDT$0.998958

-0.01%

USD Coin
USDC$1.000329

0.03%

Binance Coin
BNB$321.57

-3.53%

XRP
XRP$0.403749

-5.20%

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 61.2% 87 $29 380.18 -3.28% -2.43% $559 642 402 733 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 59.2% 88 $1 959.56 -5.15% -4.83% $236 921 809 457 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.998958 -0.01% 0.02% $73 198 714 964 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000329 0.03% -0.01% $53 273 212 846 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 61.2% 88 $321.57 -3.53% 6.21% $52 504 644 349 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 58% 91 $0.403749 -5.20% -5.34% $19 518 470 146 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $0.999393 -0.21% -0.08% $18 312 587 333 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 59.2% 93 $0.515615 -6.46% -10.22% $17 403 339 497 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 60% 91 $50.05 -7.03% -9.13% $16 981 972 785 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 58% 90 $0.082722 -5.26% -7.04% $10 974 841 808 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 60.4% 90 $9.97 -5.87% -7.56% $9 850 001 505 DOT 7 days price change
12 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 57.2% 87 $29 401.79 -3.22% -2.31% $8 132 620 498 WBTC 7 days price change
13 TRON (TRX) TRX TRON predictions 73.2% 56 $0.081939 7.58% 16.52% $7 754 289 182 TRX 7 days price change
14 Avalanche (AVAX) AVAX Avalanche predictions 58.4% 93 $28.73 -10.25% -14.09% $7 737 939 953 AVAX 7 days price change
15 Dai (DAI) DAI Dai predictions 90.8% 1 $1.000302 -0.03% 0.01% $6 573 514 573 DAI 7 days price change

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