Crypto Market Turned Red
Crypto Market dips as US market tumbles after Putin’s new announcement. Bitcoin was last seen trading on Tuesday at roughly $24,443, down 1.66%, while ETH was doing business at $1,659, down 2.5%.
Since any indication of a change in US monetary policy has the potential to impact financial markets, the release of the FOMC minutes on Wednesday may have an impact on the price of Bitcoin.
Both "over-leveraged long positions" and "liquidating over-eager shorts" were responsible for Bitcoin's current run to over $25,000 last week. Investors who hold long holdings anticipate an asset's value to rise, while those who hold short positions anticipate an asset's value to fall.
Over the weekend, Bitcoin breached a rare "Golden Cross," a bullish indication that normally portends near-term gains. BTC has fluctuated between positive and negative gains on average volume over the last four trading days, giving the sentiment at the present little obvious direction.
The global cryptocurrency market cap fall by 0.12% to $1.14 trillion in the last 24 hours, according to CoinGabbar data at the time of writing. The total crypto market volume over the last 24 hours was $90.06 billion.
Cryptoquants Derivates shows positive funding rates which means crypto will turn green in the coming hours.
BTC price has fall by 1.66% in the last 24 hours. At the time, BTC was trading at $24,443, and reject from the $25,250 mark. In the last 7 days, BTC price has rise by 12.28%. Bitcoin (BTC) dominance rise from 40.54% to 40.58% while ETH dominated 21.9% of the total crypto markets.
Top Crypto Prices
Ethereum (ETH): Ethereum price fall by around 2.64% to $1,659 in the last 24 hours. In the last 7 days, ETH price has rise by over 10.3%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.
Solana (SOL): Solana price fall 4.84% to $24.98 in the last 24 hours. In the last 7 days, SOL price has rise by nearly 20.72%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.
Dogecoin’s (DOGE) price fall by 3.29% in the last 24 hours. DOGE is currently ranked 11th. The price of DOGE at the time of this report was $0.08546.
Polygon (MATIC) price fall by around 5.98% to $1.3867 in the last 24 hours. In the last 7 days, MATIC price has rise by around 16.21%. It is currently ranked 9th on CoinGabbar.
Shiba Inu (SHIB) fall by 3.2% in the last 24 hours to $0.00001306. It is currently ranked 15th on CoinGabbar.
Major Events
The Paxos CEO Charles Cascarilla appears to be actively conversing with the U.S. Securities and Exchange Commission (SEC) about the recent restrictions on the issuance of the stablecoin, according to the most recent development in the Binance USD (BUSD) incident. Paxos is currently under a court order from the New York Department of Financial Services to stop issuing BUSD.
The Chief Strategy Officer of Binance is worried that stringent crypto regulations in the US could suffocate the industry and significantly increase market volatility.
A 20% staff cut was announced by Polygon Labs, which gave the business group convergence as their justification. A three-month severance package would be provided to the approximately 100 affected employees as part of the consolidation.
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