The crypto market has lost over 5% in the last 24 hours, pushing capitalisation back below $1 trillion. The steep fall in FTT affected Bitcoin and Ether and has pulled a significant market spectrum. Bitcoin is now trading at $19.8K, with the most substantial losses coming in the Asian session, filled with algorithmic traders, pushing the price back to $19.4K at one point. It is noteworthy that a sell-off did not follow the sell-off in the first and second cryptocurrencies in the markets.
Once again, we are forced to guess whether crypto reflects the internal risk attitude of the financial markets or whether we have seen a short-term technical sell-off. In the former case, market sentiment will worsen during the day. In the second, BTCUSD will redeem during the day and further confirm the market's reversal to growth.
According to CoinShares, investments in crypto funds declined last week after a slight increase the previous week. Outflows amounted to $16m compared to inflows of $6m a week earlier. Bitcoin investments fell by $13 million, and Ethereum rose by $3 million. Investments in funds that allow shorts on bitcoin fell by $7 million. Investors have shown a lack of enthusiasm over the past eight weeks, CoinShares noted.
Former MicroStrategy head Michael Saylor called bitcoin a "hope" for Lebanon, whose national currency has fallen 96% against the dollar, and inflation has reached triple digits. The Middle Eastern country has been in a deep financial crisis since 2019. Twitter's new owner, Elon Musk, plans to postpone temporarily or entirely shut down the development of some of the projects announced by the previous administration, including, reportedly, work on a cryptocurrency wallet. The news has hurt Dogecoin, which has been growing in hopes of becoming the social network's digital currency.
According to Reuters, UK bank Santander will block transactions on cryptocurrency exchanges in 2023 to protect consumers from fraud. Mining companies are being forced to sell off cryptocurrency mining equipment at a massive discount to cover losses from a falling market, The Wall Street Journal reported.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||64%||76||$23 414.18||-0.57%||1.32%||$451 444 140 453|
|2||ETH||Ethereum predictions||65.6%||64||$1 660.60||0.87%||3.91%||$203 213 799 353|
|3||USDT||Tether predictions||96%||1||$1.000139||0%||0%||$68 038 057 989|
|4||BNB||Binance Coin predictions||81.2%||39||$332.21||2.49%||7.92%||$52 455 756 881|
|5||USDC||USD Coin predictions||95.2%||1||$0.999870||-0.01%||-0.02%||$41 954 575 977|
|6||XRP||XRP predictions||76.4%||51||$0.410035||0.05%||-0.66%||$20 829 395 994|
|7||BUSD||Binance USD predictions||92.4%||1||$1.000093||0.02%||0%||$16 273 786 064|
|8||ADA||Cardano predictions||69.2%||69||$0.401700||0.32%||2.18%||$13 898 855 921|
|9||DOGE||Dogecoin predictions||74%||48||$0.093742||2.62%||6.67%||$12 436 791 556|
|10||MATIC||Polygon predictions||68%||64||$1.23||4.02%||7.27%||$10 780 259 861|
|11||STETH||Lido stETH predictions||96%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|12||SOL||Solana predictions||61.6%||88||$24.55||0.87%||-0.41%||$9 145 525 743|
|13||DOT||Polkadot predictions||64%||74||$6.94||5.67%||5.23%||$8 000 392 092|
|14||SHIB||SHIBA INU predictions||64%||79||$0.000014||14.51%||18.56%||$7 679 941 030|
|15||LTC||Litecoin predictions||76.8%||38||$100.23||0.95%||13.08%||$7 236 835 830|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2023 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.