Bitcoin
BTC$82 044.15

3.11%

Ethereum
ETH$3 194.87

-0.26%

Tether
USDT$1.000598

0%

Solana
SOL$215.83

5.10%

Binance Coin
BNB$626.53

-1.38%

Dogecoin
DOGE$0.288303

20.38%

Cryptocurrency market: Fear dominates


24 May 2021

#Bitcoin

Consolidation generally ruled the day in bonds and stocks after some big swings in recent sessions. The focus remains on the robust recovery, the rise in inflation, virus spikes and widening distribution of vaccines, and the varying dimensions of all left the markets in limbo.

Traders kept a close eye on volatile cryptocurrencies as China reiterated its commitment to curb mining and trading. Bitcoin was savaged and is currently  at $36.5k, after it was hurt in part by China’s crackdown on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks. China’s intensifying efforts to cool raw material prices were also in the mix, as were ongoing inflation concerns, which in turn fuelled lingering taper talk.

Cryptocurrency miners, including HashCow and BTC.TOP, have halted their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny of them. A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday as part of efforts to fend off financial risks. It was the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70% of the world’s crypto supply.

Treasuries traded narrowly around unchanged levels with the 10-year yield either side of 1.625%. Wall Street continued to meander in back-and-forth action as investors mulled growth versus value positions. GER30 and UK100 futures are up 0.2% and 0.3% respectively, and US futures are also fractionally higher, after a pretty steady session in Asia.

In FX markets the Yen strengthened and USDJPY dropped back to 108.70, while the Dollar was pretty steady against most other currencies. The EUR and GBP both steadied at 1.2190 and 1.4150. The AUD traded near the lower end of its 5-week range as the country’s central bank is seen lagging global peers in tightening monetary policy despite a strong economic recovery. It is currently at 0.7735.  USOIL meanwhile is trading at USD 64.05 per barrel. Today – Whit Monday/Pentecost holidays in parts of the continent will likely weigh on activity. The only key events of the day are Gov. Kuroda and Gov. Bailey speeches.


Related

NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
NordFX Copy Trading: A Comprehensive Guide to Maximizing Profits
Tips to Choose the Right Second Citizenship Program
Tips to Choose the Right Second Citizenship Program
Bitcoin’s continued slide down
Bitcoin’s continued slide down
A new round of crypto market mistrust
A new round of crypto market mistrust
Bitcoin holds its range, but pressure mounts
Bitcoin holds its range, but pressure mounts
Bitcoin unlikely to end correction
Bitcoin unlikely to end correction
Bitcoin looks set to take a severe dive
Bitcoin looks set to take a severe dive
Bitcoin set for a deeper correction
Bitcoin set for a deeper correction
Bitcoin falls under pressure
Bitcoin falls under pressure

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 83.6% 28 $82 044.15 3.11% 19.34% $1 622 892 837 361 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 76.8% 43 $3 194.87 -0.26% 29.64% $384 738 641 649 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000598 0% 0.13% $123 460 245 202 USDT 7 days price change
4 Solana (SOL) SOL Solana predictions 76.4% 51 $215.83 5.10% 32.36% $101 856 034 394 SOL 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 91.2% 12 $626.53 -1.38% 11.91% $90 282 844 126 BNB 7 days price change
6 Dogecoin (DOGE) DOGE Dogecoin predictions 60.4% 78 $0.288303 20.38% 85.05% $42 306 969 572 DOGE 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $0.999713 -0.02% -0.03% $36 955 172 779 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 90% 13 $0.587003 0.07% 14.56% $33 382 059 764 XRP 7 days price change
9 Cardano (ADA) ADA Cardano predictions 69.6% 54 $0.591951 -0.01% 78.05% $20 729 265 815 ADA 7 days price change
10 SHIBA INU (SHIB) SHIB SHIBA INU predictions 57.2% 94 $0.000026 10.94% 52.50% $15 265 601 772 SHIB 7 days price change
11 TRON (TRX) TRX TRON predictions 94% 1 $0.165136 -0.29% -0.16% $14 270 034 036 TRX 7 days price change
12 Toncoin (TON) TON Toncoin predictions 87.2% 23 $5.33 -3.24% 10.10% $13 559 843 747 TON 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 77.2% 48 $31.81 -0.44% 35.28% $12 955 099 429 AVAX 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 92.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 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

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 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.