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.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||77.6%||42||$57 397.14||5.51%||-0.13%||$1 084 001 374 692|
|2||ETH||Ethereum predictions||78.8%||32||$4 325.04||6.69%||3.38%||$512 656 495 446|
|3||BNB||Binance Coin predictions||73.6%||53||$609.29||4.33%||7.07%||$101 630 227 689|
|4||USDT||Tether predictions||96%||1||$1.000997||0.02%||-0.01%||$73 194 134 956|
|5||SOL||Solana predictions||69.2%||65||$203.84||7.44%||-8.23%||$61 976 513 439|
|6||ADA||Cardano predictions||68.8%||60||$1.59||5.99%||-11.72%||$52 852 892 795|
|7||XRP||XRP predictions||74.8%||51||$0.987767||7.45%||-5.41%||$46 582 102 093|
|8||USDC||USD Coin predictions||91.2%||2||$0.998878||-0.13%||-0.10%||$38 347 542 030|
|9||DOT||Polkadot predictions||62.4%||75||$36.25||8.95%||-9.51%||$35 798 276 399|
|10||DOGE||Dogecoin predictions||61.6%||74||$0.205694||2.60%||-7.52%||$27 214 125 290|
|11||AVAX||Avalanche predictions||62%||75||$112.35||3.84%||-16.51%||$25 147 340 195|
|12||SHIB||SHIBA INU predictions||63.2%||77||$0.000039||3.61%||-9.86%||$21 537 353 661|
|13||CRO||Crypto.com Chain predictions||57.2%||90||$0.766272||1.87%||10.94%||$19 358 331 922|
|14||LUNA||Terra predictions||62.8%||72||$49.02||8.15%||18.38%||$19 258 363 664|
|15||WBTC||Wrapped Bitcoin predictions||78%||46||$56 525.74||5.34%||-1.06%||$14 327 926 572|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2021 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.