Market Watch – Sept 7th
In terms of sheer volume this week BitsharesX remains the one to watch. However tor based Anonymity player Stealthcoin (XST) has made some interesting strides up an impressive 593.79% from this time last week. While numbers that high usually indicate a quick crash as token holders get out to lock in profits and fund development, Stealthcoin will be one to keep an eye on once it has settled in at it’s new equilibrium. Bitmark (BTM) gets today’s honors for most improved with an 86.21% bump. Having launched in mid-august it seems they are beginning the now typical early push new tokens are so....
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Traders watch closely as BTC price presses at a long-term trendline resistance that has previously capped previous rallies. On Sept. 12, Bitcoin is doing Bitcoin things as usual. Since Sept. 9 the price has broken out nicely, booking a near 16% gain and rallying into the long-term descending trendline which appears to have resistance at $23,000. BTC/USDT 1-day chart. Source: TradingViewPerhaps BTC and the wider market are turning bullish ahead of the Ethereum Merge which is scheduled for Sept. 14, or maybe the elusive bottom is finally in. Weekly chart data from TradingView shows that on....
Bitcoin and most major altcoins have recovered from last week’s sell-off, but they are still facing selling at higher levels, suggesting that the market could remain range-bound for a few days. Bitcoin (BTC) and Ether (ETH) recovered a large part of the losses that happened due to the knee-jerk reaction to China's regulatory crackdown on Sept. 24. This suggests that crypto markets have absorbed the news-based selling, with long-term investors likely using the dip to accumulate.However, a rally may have to wait as market participants watch the outcome of the infrastructure bill this week,....
The FOMC's decision on Sept. 21 could cause traders to reduce their risk exposure, limiting the recent gains seen across the crypto market. The 13% gains in the six days leading to Sept. 12 brought the total crypto market capitalization closer to $1.1 trillion, but this was not enough to break the descending trend. As a result, the overall trend for the past 55 days has been bearish, with the latest support test on Sept. 7 at a $950 billion total market cap.Total crypto market cap, USD. Source: TradingViewAn improvement in traditional markets has accompanied the recent 13% crypto market....
Bitcoin price is struggling to flip $48,000 to support, but the steady protocol developments taking place in DeFi projects could lead to further upside from DOT, LUNA, ATOM and FTT. Bitcoin (BTC) and most major altcoins have been consolidating in the past few days as investors await a trigger to start the next directional move. Some believe that the rising inflation in the U.S. could prove to be bullish for Bitcoin.In a note to clients, Anthony "Pomp" Pompliano said that the only way to protect oneself in the current environment is to invest either in “equities, real estate, crypto, etc.”....
AXS may form a death cross between its 20-day and 50-day exponential moving averages, despite the latest rebound. Axie Infinity’s native cryptocurrency, Axie Infinity Shards (AXS), bounced higher on Sept. 23 as the market’s focus shifted to its listing on two major crypto trading platforms, Bitfinex and Bitstamp.The AXS/USD exchange rate surged 15.52% to $69.86, negating all the losses that it incurred at the beginning of the week. The intraday rally came as a part of an overall bullish retracement that began on Sept. 21 when AXS was changing hands for $48.05. Crypto assets recoverOn Sept.....