BTC, ETH and DOGE dormant over Easter: Stocks could define this week’s upside for cryptocurrencies
It can be seen that the cryptocurrency global currency fell 2 on January 8. USD traded on the evening of January 8 and 5, the latest price of USD trading is a key psychological level.
Price performance of major tokens
Currency 24 hours 7 days Price
-1.5% -5.7% $39,763.82
-2.05% -6.4% $2,994.69
-3% -6.3% $0.14
Top winners over a 24-hour period (CoinMarketCap data)
Percentage change (+/-) price of cryptocurrencies over a 24-hour period
FTX Token (FTT) 7.1% $44.80
Downgrade (DCR) 6.7% $60.28
AUDIO 5.8% $1.38
because it matters
Risk assets such as cryptocurrencies fell, while stock futures fell ahead of a week full of profitable activity. Some of the companies reporting results this week include Netflix Inc.
and Tesla Inc.
. On the stock front, investors will continue to focus on forecasts provided by the company.
S&P 500 and Nasdaq futures, which started trading earlier, were down 0.7% and 1.1%, respectively, at the last review. Bitcoin hovered around $40,000 over the long holiday weekend. On the eve of Easter Sunday, the leading coin touched an intraday low of $39,620.89.
Benzinga’s Melanie Schaffer said the cryptocurrency market may be heading in the direction of stock futures.
Investor sentiment was poor the last time we checked with Alternative. me’s Fear and Greed Index indicating “extreme fear.” The index was in “fear” mode last week.
On the futures front, information provider Santiment tweeted, citing exchange rate data, that traders were slightly shorter than long.
“[Bitcoin] and [altcoins] have been in the green for most of the past week, which has historically been #bullish on #short liquidation opportunities,” Santiment noted.
According to exchange rate data, traders have slightly higher #SHORTING than #LONGING. #BITCOIN and #ALTCOINS have been in the green for the better part of the past week, which is historically a possibility of #BULLISH to #SHORT liquidation. PIC.TWITTER.COM/JZPAR0JZDD
— SANTIMENT (@SANTIMENTFEED) April 17, 2022
Glassnode co-founders Jan & Yann claimed on Twitter that despite strong fundamentals, the price of the major token is being driven by external factors and there is strong selling pressure in the Bitcoin perpetual futures market.
BITCOIN is driven by exogenous factors. The #BTC PERP market faces strong selling pressure despite strong fundamentals.
Our risk signal crossed the high risk area. See for yourself https://T.CO/JAEGGDZM5A PIC.TWITTER.COM/R0FITVMIEI
– Negative Entropy (@NEGENTROPIC_) April 17, 2022