Bitcoin
BTC$26 957.64

2.27%

Ethereum
ETH$1 651.20

2.85%

Tether
USDT$1.000031

0.08%

Binance Coin
BNB$214.84

1.39%

XRP
XRP$0.510041

2.38%

USD Coin
USDC$1.000175

0.02%

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 96% 2 $26 957.64 2.27% 1.25% $525 640 389 351 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 89.2% 5 $1 651.20 2.85% 3.57% $198 533 811 997 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000031 0.08% 0.01% $83 279 163 207 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 92% 4 $214.84 1.39% 1.43% $33 052 667 934 BNB 7 days price change
5 XRP (XRP) XRP XRP predictions 91.6% 9 $0.510041 2.38% -0.38% $27 191 480 431 XRP 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000175 0.02% 0.01% $25 593 952 177 USDC 7 days price change
7 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
8 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 86.8% 24 $0.088795 4.50% 6.75% $9 028 313 978 WTRX 7 days price change
9 Cardano (ADA) ADA Cardano predictions 92.4% 6 $0.250543 2.68% 1.79% $8 801 173 691 ADA 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 93.2% 5 $0.061482 1.67% -0.22% $8 681 310 550 DOGE 7 days price change
11 Solana (SOL) SOL Solana predictions 88% 20 $20.19 5.11% 2.68% $8 334 534 611 SOL 7 days price change
12 TRON (TRX) TRX TRON predictions 87.2% 22 $0.087706 2.85% 5.13% $7 813 140 472 TRX 7 days price change
13 Toncoin (TON) TON Toncoin predictions 58.4% 84 $2.21 2.18% -4.32% $7 589 175 931 TON 7 days price change
14 Dai (DAI) DAI Dai predictions 94.8% 1 $0.999902 0.03% -0.03% $5 347 363 215 DAI 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 89.6% 7 $4.07 1.98% 1.29% $5 005 321 925 DOT 7 days price change

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