Crypto market's fragile stability
Bitcoin has added 2% in the past 24 hours to $21,400. Ethereum added 4.6% to $1640, while top altcoins added between 0.9% (Dogecoin) and 4.4% (Polkadot). Total cryptocurrency market capitalization, according to CoinMarketCap, rose 2.2% to $1.03 trillion overnight. The Cryptocurrency Fear and Greed Index fell 3 points to 25 by Wednesday and went from "fear" to "extreme fear".
Unlike stock indices, Bitcoin has not fallen but has appeared as if it is disconnected from the market, having reached an equilibrium between the sell-off lows of late July at $20.5K and $22.5K.
The technical picture looks like a consolidation before a new downward momentum, potentially to the lows near 17600. BTCUSD could update that low if the decline gets caught up in the storm of falling stock markets. But it is too early to bet on this.
News background
CoinShares strategy director Meltem Demirors believes that because of the holiday season, we should not expect significant changes in the cryptocurrency market until the end of September. According to SkyBridge Capital CEO Anthony Scaramucci, bitcoin cannot yet act as an asset to hedge inflation as adopting the first cryptocurrency is not enough.
According to Arcane Research, Bitcoin could become one of the world's leading power consumers by 2040.
Developers of the Dogecoin Foundation have reported that a DOGE-ETH bridge will be launched by the end of the year to move DOGE from the Dogecoin blockchain to the Ethereum network and back again.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 96% | 2 | $26 928.47 | -0.71% | 1.47% | $525 089 762 777 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 94% | 3 | $1 665.19 | 0.42% | 4.57% | $200 215 397 562 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $0.999859 | -0.02% | -0.02% | $83 264 814 922 |  |
|
| 4 |  BNB |
Binance Coin predictions | 94.8% | 2 | $215.67 | 0.18% | 2.40% | $33 180 858 234 |  |
|
| 5 |  XRP |
XRP predictions | 92.8% | 8 | $0.532033 | 4.66% | 3.39% | $28 363 921 577 |  |
|
| 6 |  USDC |
USD Coin predictions | 93.6% | 1 | $1.000025 | -0.03% | 0% | $25 224 083 856 |  |
|
| 7 |  STETH |
Lido stETH predictions | 91.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 8 |  WTRX |
Wrapped TRON predictions | 85.2% | 26 | $0.089033 | 3.90% | 6.31% | $9 052 505 410 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 90.4% | 6 | $0.061973 | 0.87% | 0.88% | $8 751 141 540 |  |
|
| 10 |  ADA |
Cardano predictions | 90% | 7 | $0.249024 | -0.02% | 2.13% | $8 747 839 413 |  |
|
| 11 |  SOL |
Solana predictions | 86.8% | 18 | $20.25 | 2.78% | 4.53% | $8 360 680 712 |  |
|
| 12 |  TRX |
TRON predictions | 85.6% | 22 | $0.089574 | 3.69% | 7.57% | $7 978 844 652 |  |
|
| 13 |  TON |
Toncoin predictions | 62.8% | 84 | $2.21 | -0.96% | -3.88% | $7 601 171 597 |  |
|
| 14 |  DAI |
Dai predictions | 94% | 1 | $0.999946 | -0.07% | 0.05% | $5 347 597 900 |  |
|
| 15 |  DOT |
Polkadot predictions | 93.2% | 7 | $4.08 | -0.14% | 1.68% | $5 010 206 612 |  |
