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 | ![]() |
Bitcoin predictions | 96% | 2 | $26 957.64 | 2.27% | 1.25% | $525 640 389 351 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ![]() |
Ethereum predictions | 89.2% | 5 | $1 651.20 | 2.85% | 3.57% | $198 533 811 997 | ||
3 | ![]() |
Tether predictions | 93.2% | 1 | $1.000031 | 0.08% | 0.01% | $83 279 163 207 | ||
4 | ![]() |
Binance Coin predictions | 92% | 4 | $214.84 | 1.39% | 1.43% | $33 052 667 934 | ||
5 | ![]() |
XRP predictions | 91.6% | 9 | $0.510041 | 2.38% | -0.38% | $27 191 480 431 | ||
6 | ![]() |
USD Coin predictions | 93.6% | 1 | $1.000175 | 0.02% | 0.01% | $25 593 952 177 | ||
7 | ![]() |
Lido stETH predictions | 95.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
8 | ![]() |
Wrapped TRON predictions | 86.8% | 24 | $0.088795 | 4.50% | 6.75% | $9 028 313 978 | ||
9 | ![]() |
Cardano predictions | 92.4% | 6 | $0.250543 | 2.68% | 1.79% | $8 801 173 691 | ||
10 | ![]() |
Dogecoin predictions | 93.2% | 5 | $0.061482 | 1.67% | -0.22% | $8 681 310 550 | ||
11 | ![]() |
Solana predictions | 88% | 20 | $20.19 | 5.11% | 2.68% | $8 334 534 611 | ||
12 | ![]() |
TRON predictions | 87.2% | 22 | $0.087706 | 2.85% | 5.13% | $7 813 140 472 | ||
13 | ![]() |
Toncoin predictions | 58.4% | 84 | $2.21 | 2.18% | -4.32% | $7 589 175 931 | ||
14 | ![]() |
Dai predictions | 94.8% | 1 | $0.999902 | 0.03% | -0.03% | $5 347 363 215 | ||
15 | ![]() |
Polkadot predictions | 89.6% | 7 | $4.07 | 1.98% | 1.29% | $5 005 321 925 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2023 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.