Bitcoin (BTC) trading hesitancy could signal the return of “good times,” says analyst Benzinga | Omd Cialis

Major coins traded lower Tuesday night as the global cryptocurrency market cap fell 0.5% to $1.07 trillion at press time.

Price development of major coins
coin 24 hours 7 days Price
Bitcoin BTC/USD -2% 7.7% $22,841.31
ether ETH/USD -2% 11.3% $1,609.74
Dogecoins DOGE/USD -2% 7.6% $0.07

Top 24-hour Gainers (data from CoinMarketCap)
cryptocurrency 24-hour % change (+/-) Price
Lido DAO (I DO) +12.5% $2.3
Cronos (CRO) +6.6% $0.15
Oasis network (ROSE) +9.1% $0.09

See also: How to get free crypto

Why it matters: Risk assets were seen in negative territory on Tuesday night, with two of the largest cryptocurrencies in the red. The S&P 500 and Nasdaq closed 0.7% and 0.2% lower, respectively. Her future was largely flat as of press time.

Bitcoin’s third straight daily decline could be an indication that “recovery momentum is fading,” he wrote Craig Erlama senior market analyst at OANDA.

His move will likely “ultimately depend on inflation,” the Federal Reserve, and any worrying news, he said.

“Perhaps the hesitation is a sign that traders lack confidence that this is a bottom and the beginning of a return to good times.”

A major piece of news that could impact bitcoin price is the exit from Michael Sailer as CEO of MicroStrategy Incorporated MSTR – the US company with the largest Bitcoin holdings.

Saylor will continue to serve as MicroStrategy’s chief executive officer, as he said the move will allow him to focus on the company’s Bitcoin acquisition strategy as the company’s president Phong Le takes the reins.

The company on Tuesday announced a nearly $918 million writedown on its BTC Treasury reserves in the second quarter as the Apex coin’s price declined over the period.

The visit of the Speaker of the US House of Representatives Nancy Pelosi to Taiwan is spurring risk aversion, which in turn buoyed the dollar index, which was up 0.24% on the day at press time to 106.49.

cryptocurrency trader Justin Bennett said cryptocurrency bulls want the dollar to reveal to “103” from intraday lows of 105.05.

“Hard times for risk assets while this is intact,” Bennett said in a tweet.

According to Chartist, Bitcoin is testing resistance Ali Martinez and a “clean close” above $23,530 will allow it to retest the $24,400 supply zone.

On the Ethereum side, transaction fees have remained “extremely low” even as the price of the second-largest cryptocurrency has surged since mid-June, Santiment said.

“Tighter print runs have played a large part in the lower costs and fees can be expected to remain reasonable to some extent [FOMO] steps out of the crowd,” the market research platform said in a tweet.

At press time, Ethereum’s average transaction fee was $0.0014, or $2.28, according to data from BitInfoCharts.

Continue reading: The Dogecoin founder and Vitalik Buterin are at odds when it comes to calling crypto scammers

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