Bitcoin
BTC$18 928.29

-1.09%

Ethereum
ETH$1 294.66

-3.51%

Tether
USDT$1.000070

0%

USD Coin
USDC$1.000014

0.01%

Binance Coin
BNB$274.74

-1.09%

XRP
XRP$0.500514

-0.70%

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.


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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 80.8% 26 $18 928.29 -1.09% -4.04% $362 675 162 554 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72.8% 54 $1 294.66 -3.51% -5.75% $158 627 858 840 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000070 0% 0% $67 959 464 596 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.6% 1 $1.000014 0.01% -0.01% $49 594 307 856 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 90.8% 15 $274.74 -1.09% 1.13% $44 325 985 527 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 61.6% 74 $0.500514 -0.70% 26.97% $24 950 009 051 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $1.000119 0% 0% $20 519 701 371 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 83.2% 32 $0.447321 -2.92% -3.50% $15 312 533 995 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 84.8% 28 $32.55 -3.85% 0.89% $11 545 262 081 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 85.6% 14 $0.061629 -4.48% 3.07% $8 176 334 390 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 78.8% 41 $6.22 -3.37% -7.84% $6 968 389 291 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 90.8% 1 $0.999457 -0.02% -0.02% $6 926 301 960 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 73.6% 55 $0.746252 -3.07% -5.23% $6 518 004 616 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.4% 42 $0.000011 -4.47% -2.59% $6 105 472 299 SHIB 7 days price change

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