{"id":28275,"date":"2022-09-07T04:37:46","date_gmt":"2022-09-07T04:37:46","guid":{"rendered":"http:\/\/egrowonline.com\/?p=28275"},"modified":"2022-09-07T04:37:46","modified_gmt":"2022-09-07T04:37:46","slug":"bitcoin-btc-dogecoin-doge-ethereum-eth-bitcoin-ethereum-dogecoin-crash-on-rising-treasury-yields-analyst-says-apex-coin-could-fall-below-17600-if-this-happens","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=28275","title":{"rendered":"Bitcoin ($BTC), Dogecoin ($DOGE), Ethereum ($ETH) \u2013 Bitcoin, Ethereum, Dogecoin Crash On Rising Treasury Yields \u2014 Analyst Says Apex Coin Could Fall Below $17,600 If This Happens"},"content":{"rendered":"


\n<\/p>\n

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Major coins dropped sharply Tuesday evening as the global cryptocurrency market cap declined 4.2% to $948 billion at 8:30 p.m. EDT.<\/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

-4.8%<\/td>\n

<\/p>\n

-5.15%<\/td>\n

<\/p>\n

$18,868.66<\/td>\n


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

<\/p>\n

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

<\/p>\n

-3.4%<\/td>\n

<\/p>\n

1.8%<\/td>\n

<\/p>\n

$1,566.63<\/td>\n


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

<\/p>\n

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

<\/p>\n

-6.65%<\/td>\n

<\/p>\n

-4.9%<\/td>\n

<\/p>\n

$0.06<\/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

+11.1%<\/td>\n

<\/p>\n

$0.41<\/td>\n


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

<\/p>\n

UNUS SED LEO<\/strong> (LEO)<\/td>\n

<\/p>\n

+1.6%<\/td>\n

<\/p>\n

$5.16<\/td>\n


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

<\/p>\n

Binance USD<\/strong> (BUSD)<\/td>\n

<\/p>\n

+0.01%<\/td>\n

<\/p>\n

\u200b\u200b$1<\/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><\/p>\n

Why It Matters: <\/strong>Risk assets, including cryptocurrencies, were under pressure on Tuesday after a slew of positive financial data sent U.S. Treasury yields soaring.\u00a0<\/p>\n

The S&P 500 and Nasdaq dropped 0.4% and 0.7% for the day, while at the time of writing their futures fell 0.6% and 0.7% respectively.<\/p>\n

The 10-year U.S. Treasury yields soared to their highest levels since June. The paper touched 3.336% on Tuesday, charting its way up from a four-month low of 2.516% seen on Aug. 2, reported<\/a> Reuters.<\/p>\n

A survey from the Institute for Supply Management <\/strong>(ISM) indicated that the services industry in the United States grew for the second-straight month in August with the Services PMI at 56.9%. This rise came amid increases in business activity, new orders and employment, according to a statement from the ISM.<\/p>\n

\u201cThe retail trader is starting to panic again as meme stocks and cryptos fall under pressure. Bitcoin is breaking below the key technical levels.\u00a0Bitcoin\u2019s correlation with tech stocks continues and the surge with Treasury yields is a troubling sign,\u201d said Edward Moya<\/strong>, a senior market analyst at OANDA.<\/p>\n

\u201cMany are starting to doubt that the peak in yields is in place and that could spell trouble for Bitcoin.\u00a0Bitcoin selling pressure will next eye the summer lows just ahead of the $17,500 level,\u201d said the analyst, in a note seen by Benzinga.<\/p>\n

Justin Bennet <\/strong>said on Twitter that the $19,000 region is support for Bitcoin. \u201cBelow that on a daily closing basis, we probably see at least $17,600, if not much lower,\u201d said the trader.<\/p>\n

Bitcoin bulls \u201cneed to reclaim $19,700 to see $20,500 and potentially $21,400. I still don’t think the bottom is in.\u201d<\/p>\n

<\/p>\n

The #Bitcoin<\/a> chart is pretty straightforward.<\/p>\n

The $19k region is support. Below that on a daily closing basis, we probably see at least $17,600, if not much lower.$BTC<\/a> bulls need to reclaim $19,700 to see $20,500 and potentially $21,400.<\/p>\n

I still don’t think the bottom is in. pic.twitter.com\/MEwcyZDlHB<\/a><\/p>\n


\n\u2014 Justin Bennett (@JustinBennettFX) September 6, 2022<\/a><\/p><\/blockquote>\n

Cryptocurrency trader Micha\u00ebl van de Poppe<\/strong> tweeted on the ETH-BTC pair that Ethereum is still on \u201croute towards the target zone at 0.10 [BTC].\u201d<\/p>\n

<\/p>\n

#Ethereum<\/a> is still on route towards the target zone at 0.10 $BTC<\/a> as we’ve been covering. pic.twitter.com\/UxEjQqObCe<\/a><\/p>\n


\n\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) September 6, 2022<\/a><\/p><\/blockquote>\n

Since March 15, Ethereum outflows have outweighed inflows as more than 323,000 ETH has left exchange wallets, said Delphi Digital<\/strong> in a note.\u00a0<\/p>\n

On Aug. 29, exchange outflows went above 476,000 ETH \u2014\u00a0the third largest volume of outflows since March.\u00a0<\/p>\n

Ethereum Net Transfer Volume To\/From Exchanges \u2014 Courtesy Delphi Digital, Source Glassnode<\/em><\/p>\n

\u201cThis can be attributed to the upcoming Merge, which is currently scheduled to occur between September 13th-15th,\u201d said Delphi Digital.\u00a0<\/p>\n

Users are moving Ethereum from centralized exchanges to non-custodial wallets in anticipation of a proof-of-work airdrop in case a canonical fork emerges, according to the independent research boutique.<\/p>\n

Read Next: <\/em>Vitalik Buterin Asks Followers Which Non-Ethereum Crypto They Think He Respects The Most: Here Are The Results<\/em><\/a><\/p>\n<\/div>\n


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

Major coins dropped sharply Tuesday evening as the global cryptocurrency market cap declined 4.2% to $948 billion at 8:30 p.m. EDT. Price Performance Of Major Coins Coin 24-hour 7-day Price Bitcoin BTC\/USD -4.8% -5.15% $18,868.66 Ethereum ETH\/USD […]<\/p>\n","protected":false},"author":1,"featured_media":28276,"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":[46],"tags":[646,6213,50,194,268,1000,291,85,181,158,951,2040,3194,3175],"class_list":["post-28275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-analyst","tag-apex","tag-bitcoin","tag-btc","tag-coin","tag-crash","tag-doge","tag-dogecoin","tag-eth","tag-ethereum","tag-fall","tag-rising","tag-treasury","tag-yields"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/shutterstock_1051968554.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28275","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=28275"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28275\/revisions"}],"predecessor-version":[{"id":28277,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28275\/revisions\/28277"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/28276"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28275"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}