Bitcoin
BTC$29 061.38

-3.12%

Ethereum
ETH$1 945.79

-4.82%

Tether
USDT$0.998827

-0.02%

USD Coin
USDC$1.000289

0.01%

Binance Coin
BNB$295.81

-1.43%

XRP
XRP$0.402156

-6.01%

Inflation test for Cryptomarket today


11 Nov 2021

#Bitcoin

Bitcoin has retreated 2% from the record highs reached a day ago and is trading near $66.5K, matching the October highs area. This pullback indicates an attempt to lock in profits after the recent gains and look around. The fact is that the stock market was selling the day before effectively shifted the balance of power to the sellers. The RSI index is pulling back today on the daily candlestick charts, remaining in the area below 70 points. The cryptocurrency fear and greed index has rolled back 9 points to 75, back to its typical values of the last four weeks.

Overall, this reflects a very wary state of crypto buyers if a cautious pullback is seen on early signals of market overheating. Some pressure is also seen in a wide range of popular altcoins.

The total capitalisation of the crypto market has rolled back under $2.9 trillion. Arguably, the crypto market now finds itself at a point where its short-term dynamics may be influenced by stock market sentiment. Yesterday, there was also an increase in selling pressure after record capitalisation levels were updated. The democratisation of access to stock markets and the increasing institutional interest in cryptocurrencies reinforces the thesis that these markets are communicating vessels, and risk appetite is now one for two.

The strength of risk appetite should pass the inflation test today. The Chinese data published this morning has beaten expectations, marking a new, 26-year high in producer price growth. Next on the agenda are statistics from the USA. A further acceleration will raise the question of whether central bankers are really in control of the situation.

The acceleration of price increases will convince us that a new level of turbulence is ahead, which initially promises a significant impact on risky asset prices and a deepening of the corrective pullback. In the longer term, however, distrust of central bank policy is the main driver of cryptocurrency emergence, so its long-term appeal only promises to grow from this.


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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 62.4% 82 $29 061.38 -3.12% 8.51% $553 437 248 437 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.4% 82 $1 945.79 -4.82% 7.60% $235 121 509 369 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.998827 -0.02% 1.30% $74 126 138 317 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000289 0.01% -0.07% $52 357 980 078 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 60.4% 84 $295.81 -1.43% 29.99% $48 299 672 655 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 67.2% 71 $0.402156 -6.01% 13.86% $19 441 465 904 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92% 1 $1.001637 0.15% -0.51% $18 442 645 566 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 65.2% 79 $0.507175 -10.38% 24.64% $17 118 441 820 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 63.2% 84 $50.46 -9.61% 21.41% $17 028 947 492 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62% 87 $0.084029 -5.92% 15.94% $11 148 185 698 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 60.4% 78 $9.56 -9.71% 24.98% $9 442 068 849 DOT 7 days price change
12 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 63.6% 82 $29 050.66 -2.98% 8.69% $8 132 816 754 WBTC 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 61.6% 82 $28.87 -14.48% 10.65% $7 769 271 253 AVAX 7 days price change
14 TRON (TRX) TRX TRON predictions 70.8% 55 $0.071382 -0.71% -2.34% $6 964 115 705 TRX 7 days price change
15 Dai (DAI) DAI Dai predictions 93.6% 1 $1.000090 0% 0.05% $6 501 036 897 DAI 7 days price change

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