Bitcoin And Other Altcoins Gain For Second Week; Major Cryptos Face Pressure Now

Bitcoin And Other Altcoins Gain For Second Week; Major Cryptos Face Pressure Now


oi-Roshni Agarwal


This is the second consecutive week of good points for many cryptos and altcoins. Largely the good points this week are on the again of in-line price hike by the Federal Reserve to the tune of 75 foundation factors.

Bitcoin And Other Altcoins Gain For Second Week; Major Cryptos Face Pressure Now

At the time of scripting this copy at round 11:50 am, bitcoin is buying and selling with a reduce of 0.8% at $23,779, Ethereum-the second high digital token can be down by over 1 p.c.

For the week bitcoin’s good points are near 4%. In truth bitcoin climbed increased even because the US reported contraction in GDP for the second consecutive week. This as per the technical definition indicators recession for the nation.

As per the most recent weekly bitcoin chart it was analysed that buyers entered huge time within the crypto asset at a value of $20K. On a weekly foundation, RSI for BTC is at 35 that implies that costs are neither overbought nor oversold, however moderately are in a impartial vary.

The Fear and Greed Index that underlines sentiment relative to bitcoin value ranges between 0 to 100. ‘0’ right here means excessive concern whereas 100 highlights ‘excessive greed’. The index contains value, volatility, social media affect, momentum in addition to Google Search tendencies. The index has been at 39 that signifies ‘concern’. In October the very best studying of 84 was logged which denotes extreme greed when bitcoin traded over $60K.

  • Crypto Gains But Slowly, Bitcoin Surged To US$ 23,880.40, Ether Down Marginally
  • Cryptocurrencies Cheer Fed In-Line Rate Hike; Etehreum Gains 14%
  • Bitcoin Jumps 3.23%, Ether UP 6.43%, US Fed Hikes Interest Rate, Nasdaq Up By 2.5%
  • Crypto Market M-Cap Again Declines Below $1 Trillion; Global Macro Uncertainty Weighs
  • Bitcoin Continues To Fall Sharply, Ether Plunges 4.31% Intraday: Impact Of US Fed Meeting
  • Cryptos Slump By Up To 9% Today; 7-Days Return In Negative For Most Cryptos Barring Ethereum, Cardano
  • Cryptocurrency: Steep Fall In Bitcoin By 3%, Ether Down By 2.5%
  • Bitcoin Surges To $22,962.40, Up 14% In 1 Month, But Fall 0.81% Today, Bearish Ether
  • Cryptos Gain Ground; Bitcoin At Above $23K, Ethereum Up Close To 7%
  • Cryptocurrency: Bitcoin Up 11% In 1 Month, But Loses Traction Today, Impact Of Fed Interest Rate
  • Crypto News Today: All Major Cryptos In Red; Fall Out From The Fresh Contagion
  • Cryptocurrency News: Bitcoin Up 14.3%, Ether Up 26.4% In 5 Days: What’s Driving Them?

Story first printed: Saturday, July 30, 2022, 12:21 [IST]

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About the Author: Daniel