{"id":21308,"date":"2022-06-29T04:03:41","date_gmt":"2022-06-29T04:03:41","guid":{"rendered":"http:\/\/egrowonline.com\/?p=21308"},"modified":"2022-06-29T04:03:41","modified_gmt":"2022-06-29T04:03:41","slug":"bitcoin-btc-slips-analyst-points-to-altcoin-resilience","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=21308","title":{"rendered":"Bitcoin (BTC) Slips, Analyst Points To Altcoin Resilience"},"content":{"rendered":"


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Bitcoin<\/strong> and other major cryptocurrencies showed weakness Tuesday evening as the global cryptocurrency market cap slipped 2.8% to $908.1 billion 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

-2.2%<\/td>\n

<\/p>\n

-2.1%<\/td>\n

<\/p>\n

$20,279.18<\/td>\n


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

<\/p>\n

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

<\/p>\n

-4.15%<\/td>\n

<\/p>\n

1.7%<\/td>\n

<\/p>\n

$1,144.44<\/td>\n


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

<\/p>\n

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

<\/p>\n

-9%<\/td>\n

<\/p>\n

0.1%<\/td>\n

<\/p>\n

$0.065<\/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

TerraClassicUSD<\/strong> (USTC)<\/td>\n

<\/p>\n

+110.15%<\/td>\n

<\/p>\n

$0.043<\/td>\n


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

<\/p>\n

1inch Network<\/strong> (1INCH)<\/td>\n

<\/p>\n

+9.4%<\/td>\n

<\/p>\n

$0.73<\/td>\n


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

<\/p>\n

BitTorrent-New<\/strong> (BTT)<\/td>\n

<\/p>\n

+9.35%<\/td>\n

<\/p>\n

\u200b\u200b$0.00000092<\/td>\n


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


\n\t<\/tbody>\n


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

See Also: <\/em>Best USDC Interest Rates<\/em><\/a>

\nWhy It Matters: <\/strong>Cryptocurrencies traded in the red as risk assets lost momentum on Tuesday, when the S&P 500 and Nasdaq fell 2% and 3%, respectively. At press time stock futures traded flat.<\/p>\n

\u201cBitcoin remains anchored at around the $20,000 level and won\u2019t break out until Wall Street is confident a broader slowdown is not happening,\u201d said Edward Moya<\/strong>, a senior market analyst at OANDA.<\/p>\n

Cryptocurrency trader Micha\u00ebl van de Poppe<\/strong> said on a technical level altcoins such as Ethereum are showing more strength than Bitcoin. Pointing to the BTC\/ETH chart, the analyst said ETH had a \u201csolid bounce\u201d from heavy support zone after a downwards movement.\u00a0<\/p>\n

<\/p>\n

Technically speaking, #altcoins<\/a> are showing more strength recently than #Bitcoin<\/a>.<\/p>\n

Example: $ETH<\/a>.<\/p>\n

Solid bounce from heavy support zone, after a cascade south.<\/p>\n

Currently fighting resistance around 0.06 BTC (not entry zone to me).<\/p>\n

If it breaks it, then I’m looking at 0.065 BTC. pic.twitter.com\/4Tcu52lrt5<\/a><\/p>\n


\n\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) June 28, 2022<\/a><\/p><\/blockquote>\n

Van de Poppe said\u00a0Ethereum is \u201c\u200b\u200bcurrently fighting resistance around 0.06 BTC … If it breaks it, then I’m looking at 0.065 BTC.\u201d<\/p>\n

Even so, positive commentary about the second-largest coin by market cap is \u201cvery scarce\u201d these days, according to Santiment. The market intelligence platform tweeted that the ETH ratio of positive versus negative comments hasn\u2019t been this low since May 2018.\u00a0<\/p>\n

<\/p>\n

#Ethereum<\/a> is back below $1,200 as #crypto<\/a> and #equities<\/a> retraced Tuesday. Positive commentary is very scarce these days for the #2 market cap asset. So much so that we haven’t seen the ratio of positive vs. negative comments this low since May, 2018.\u00a0 https:\/\/t.co\/nAg5qyzLHf<\/a> pic.twitter.com\/RA7RRdmgun<\/a><\/p>\n


\n\u2014 Santiment (@santimentfeed) June 28, 2022<\/a><\/p><\/blockquote>\n

Chartist Ali Martinez <\/strong>said there are two clear levels to watch out for Ethereum. The coin has support at $1,100 and resistance at $1,320.\u00a0<\/p>\n

<\/p>\n

Transaction history shows two clear levels to watch out for #Ethereum<\/a>. Support for $ETH<\/a> is at $1,100 and resistance is at $1,320. pic.twitter.com\/qp6craYL8U<\/a><\/p>\n


\n\u2014 Ali Martinez (@ali_charts) June 27, 2022<\/a><\/p><\/blockquote>\n

Over on the apex coin side, the exchange inflow volume (7-day moving average) touched a one-month low of $30,023,409.30, according to data from Glassnode.\u00a0<\/p>\n

<\/p>\n

#Bitcoin<\/a> $BTC<\/a> Exchange Inflow Volume (7d MA) just reached a 1-month low of $30,023,409.30<\/p>\n

Previous 1-month low of $30,188,807.47 was observed on 27 June 2022<\/p>\n

View metric:https:\/\/t.co\/dzmYWUYjoL<\/a> pic.twitter.com\/inNRLYvdXF<\/a><\/p>\n


\n\u2014 glassnode alerts (@glassnodealerts) June 29, 2022<\/a><\/p><\/blockquote>\n

The decline in exchange inflows is an indication that investors may be holding on to their Bitcoin.<\/p>\n

Read Next: <\/em>Two Charged For Attempting To Steal Millions Of Dollars In Bitcoin<\/em><\/a><\/p>\n

Photo via\u00a0DUSAN ZIDAR<\/a>\u00a0on Shutterstock<\/em><\/p>\n<\/div>\n


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

Bitcoin and other major cryptocurrencies showed weakness Tuesday evening as the global cryptocurrency market cap slipped 2.8% to $908.1 billion at press time. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin BTC\/USD -2.2% -2.1% $20,279.18 […]<\/p>\n","protected":false},"author":1,"featured_media":20717,"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":[349,646,50,194,3259,1376,337],"class_list":["post-21308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-altcoin","tag-analyst","tag-bitcoin","tag-btc","tag-points","tag-resilience","tag-slips"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/shutterstock_2142319699.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/21308","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=21308"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/21308\/revisions"}],"predecessor-version":[{"id":21309,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/21308\/revisions\/21309"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/20717"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21308"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}