{"id":17839,"date":"2022-05-25T07:35:17","date_gmt":"2022-05-25T07:35:17","guid":{"rendered":"http:\/\/egrowonline.com\/?p=17839"},"modified":"2022-05-25T07:35:17","modified_gmt":"2022-05-25T07:35:17","slug":"bitcoin-rises-ethereum-dogecoin-fall-on-chain-metric-flags-bullish-sign","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=17839","title":{"rendered":"Bitcoin Rises, Ethereum, Dogecoin Fall: On-Chain Metric Flags Bullish Sign"},"content":{"rendered":"


\n<\/p>\n

\n

Bitcoin<\/strong> intraday returns exceeded those of altcoins as the global cryptocurrency market cap rose 0.9% to $1.3 trillion at press time.<\/p>\n

\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Price Performance Of Major Coins<\/caption>\n

<\/p>\n

Coin<\/th>\n

<\/p>\n

24-hour<\/th>\n

<\/p>\n

7-day<\/th>\n

<\/p>\n

Price<\/th>\n


\n\t\t<\/tr>\n

\n\t<\/thead>\n

<\/p>\n

Bitcoin<\/strong> BTC\/USD<\/span><\/td>\n

<\/p>\n

1.4%<\/td>\n

<\/p>\n

-3%<\/td>\n

<\/p>\n

$29,609.99<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Ethereum<\/strong> ETH\/USD<\/span><\/td>\n

<\/p>\n

-0.1%%<\/td>\n

<\/p>\n

-5.8%<\/td>\n

<\/p>\n

$1,977.28<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Dogecoin<\/strong> DOGE\/USD<\/span><\/td>\n

<\/p>\n

-0.01%<\/td>\n

<\/p>\n

-8%<\/td>\n

<\/p>\n

$0.08<\/td>\n


\n\t\t<\/tr>\n


\n\t<\/tbody>\n


\n<\/table>\n<\/figure>\n

\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n
Top 24-Hour Gainers (Data via CoinMarketCap)<\/caption>\n

<\/p>\n

Cryptocurrency<\/th>\n

<\/p>\n

24-Hour % Change (+\/-)<\/th>\n

<\/p>\n

Price<\/th>\n


\n\t\t<\/tr>\n

\n\t<\/thead>\n

<\/p>\n

Kava<\/strong> (KAVA)<\/td>\n

<\/p>\n

+12.6%<\/td>\n

<\/p>\n

$2.88<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Tezos<\/strong> (XTZ)<\/td>\n

<\/p>\n

+11.5%<\/td>\n

<\/p>\n

$2.09<\/td>\n


\n\t\t<\/tr>\n

<\/p>\n

Ethereum Classic<\/strong> (ETC)<\/td>\n

<\/p>\n

+9.2%<\/td>\n

<\/p>\n

\u200b\u200b$23.99<\/td>\n


\n\t\t<\/tr>\n


\n\t<\/tbody>\n


\n<\/table>\n<\/figure>\n

See Also: <\/em>How To Get Free Crypto<\/em><\/a><\/p>\n

Why It Matters: <\/strong>Risk assets still remain unattractive for investors. On Tuesday, the S&P 500 and Nasdaq posted losses of 0.8% and 2.35%, respectively.\u00a0<\/p>\n

The slowing growth in the economy is now visible in the earnings numbers of listed businesses like Snap Inc<\/strong> SNAP<\/span>, particularly those operating in the technology sector<\/a>.<\/p>\n

Tuesday marked a return of risk aversion across asset classes with the exception of gold, noted Edward Moya<\/strong>, a senior market analyst at OANDA.<\/p>\n

\u201cEverything is weakening at a faster clip than anyone expected and that does not bode well for the US consumer and for short-term outlooks for equities,\u201d said Moya, in a note seen by Benzinga.<\/p>\n

Moya is pessimistic on cryptocurrencies in the near term. \u201cBitcoin is in the danger zone as sentiment for risky assets have fallen off a cliff. Normally plunging Treasury yields makes crypto attractive but right now no one wants to buy this dip,\u201d\u00a0he said.<\/p>\n

Benchmark 10-year note yields fell to 2.738%, the lowest since April 27, according to a report<\/a> from Reuters.<\/p>\n

The analyst said the apex coin could test the $25,424 level as the stock markets capitulation may not yet have taken place with the $20,000 level acting as a support zone.<\/p>\n

The losses on the equities side have been more stark, cryptocurrency trader Micha\u00ebl van de Poppe<\/strong> reminded his Twitter followers. He pointed out that Amazon.com, Inc<\/strong> AMZN<\/span> alone has lost $900 billion in value in the past 6 months. The entire market cap for Bitcoin, on the other hand, is $550 billion.<\/p>\n

<\/p>\n

Remind yourself that $AMZN<\/a> has lost $900 billion in value in the past 6 months.<\/p>\n

The entire market capitalization of #Bitcoin<\/a> is $550 billion only. pic.twitter.com\/OXTBfdd8N1<\/a><\/p>\n


\n\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) May 24, 2022<\/a><\/p><\/blockquote>\n

The gulf between Bitcoin price movement and altcoins has widened as investors lose their appetite for risk amid the erosion of positive sentiment.<\/p>\n

This can be seen in the stark gap between the 7-day price movements of Bitcoin and Ethereum. While BTC is down 3%, Ethereum\u2019s decline over the week has been almost double that.<\/p>\n

Over the quarter, Bitcoin domination has crept up to 44.51%, from 42.61%, according to data from CoinMarketCap.<\/p>\n

\"\"Major Cryptocurrencies By Percentage Of Total Market Cap \u2014 Courtesy CoinMarketCap<\/em><\/p>\n

Holder conviction in Bitcoin still remains intact as can be seen from the amount of supply last active greater than 10-years chart posted by Glassnode. This metric reached an all-time high of 2,443,600.434 BTC on Tuesday.<\/p>\n

\"\"Bitcoin Total Supply Last Active >10 Yrs \u2014 Courtesy Glassnode<\/em><\/p>\n

Meanwhile, Ethereum\u2019s average fee has dipped to just $2.54 per transaction, tweeted Santiment. The market intelligence platform pointed out that historically, ETH prices rise after the average transaction fee goes below the $5 mark, but warned that this is by no means automatic.<\/p>\n

<\/p>\n

#Ethereum<\/a>‘s average fees are at an extreme low, costing traders just $2.54 per transaction currently. This is the lowest $ETH<\/a> cost level since July. Historically (but by no means automatically), $ETH<\/a> prices rise after average transactions dip below $5. https:\/\/t.co\/JS3paxdfwz<\/a> pic.twitter.com\/hsc9BoGwPx<\/a><\/p>\n


\n\u2014 Santiment (@santimentfeed) May 24, 2022<\/a><\/p><\/blockquote>\n

Read Next: <\/em>This Bitcoin Knockoff Is Up 24% With Massive Volumes Even As Major Cryptos Slide<\/em><\/a><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin intraday returns exceeded those of altcoins as the global cryptocurrency market cap rose 0.9% to $1.3 trillion at press time. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin BTC\/USD 1.4% -3% $29,609.99 Ethereum ETH\/USD […]<\/p>\n","protected":false},"author":1,"featured_media":17840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[50,359,85,158,951,1520,4080,1372,1086,3811],"class_list":["post-17839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-bitcoin","tag-bullish","tag-dogecoin","tag-ethereum","tag-fall","tag-flags","tag-metric","tag-onchain","tag-rises","tag-sign"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/05\/shutterstock_2048668574.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17839"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17839\/revisions"}],"predecessor-version":[{"id":17841,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17839\/revisions\/17841"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/17840"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17839"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}