First Mover Asia: Bearish Crypto Sentiment Continues As Dollar Strengthens

First Mover Asia: Bearish Crypto Sentiment Continues As Dollar Strengthens

First Mover Asia: Bearish Crypto Sentiment Continues As Dollar Strengthens

By Muyao Shen, Damanick Dantes

Bitcoin was up slightly, but ether and most other major altcoins fell as investors continued to digest the Federal Reserve’s hawkish comments on Wednesday.

Market moves: Bitcoin extends drop before rising slightly; Crypto Twitter was dominated by the DeFi Wonderland drama.

Technician’s take: BTC’s upside remains limited given the intermediate-term downtrend.


Bitcoin (BTC): $36,948 +0.2%

Ether (ETH): $2,407 -2.6%

Top Gainers

Asset Ticker Returns Sector
Polygon MATIC +0.9% Smart Contract Platform
Algorand ALGO +0.6% Smart Contract Platform
Ethereum Classic ETC +0.1% Smart Contract Platform

Top Losers

Asset Ticker Returns Sector
Cosmos ATOM −7.0% Smart Contract Platform
Internet Computer ICP −4.1% Computing
Solana SOL −3.8% Smart Contract Platform


S&P 500: 4,236 -0.5%

DJIA: 34,160 -.02%

Gold: $1,796 -1.3%

Market moves

Bitcoin extended its losses for much of Thursday, a day after hawkish comments from U.S. Federal Reserve Chairman Jerome Powell, as the stock market also fell with some traders betting that the central bank will raise interest rates more than four times this year.

At the time of publication, the largest cryptocurrency by market capitalization was changing hands near $37,000, up slightly over the past 24 hours but still well off its high of a week ago, according to CoinDesk data. Ether, the second biggest cryptocurrency by market capitalization, was down over the same time period and was trading at about $2,400. Most other major altcoins were also in the red.

A strengthening dollar is usually bearish for bitcoin, as CoinDesk has reported before. Bitcoin and the dollar index in the past have moved in opposite directions. Such inverse correlation became more noticeable last July.

Data compiled by CoinDesk shows that bitcoin’s trading volume across major crypto exchanges was down from a day ago to its lowest level this week so far.

Source: CoinDesk/CryptoCompare

Instead of bitcoin, at the center of the market and crypto Twitter was the surprising drama around Wonderland, a popular decentralized finance (DeFi) protocol.

At the time of publication, the price of wonderland (TIME) was down by more than 25% to $396, according to data from CoinGecko. Prices of cryptocurrencies such as SPELL that are also part of “Frog Nation” were also down significantly.

Technician’s take

Bitcoin Stuck Below $40K Resistance; Support at $33K

Bitcoin’s four-hour price chart shows resistance levels (Damanick Dantes/CoinDesk, TradingView)

Bitcoin has failed to sustain a brief price rise from $32,900 to $39,000 over the past few days. The cryptocurrency is trading in a tight range on intraday charts, and technical indicators are mostly neutral over the short term.

Price action has remained below a downward-sloping 100-day moving average on the four-hour chart over the past few weeks, which indicates strong selling pressure. So far, oversold signals have preceded brief price rises, suggesting limited upside ahead given the persistent downtrend since November.

For now, buyers will need to hold support at between $30,000 and $37,000 in order to stabilize the pullback.


Editor’s Note:

Start investing In cryptocurrency with Bitxchange If you’re new to the world of crypto and figuring out how to buy cryptocurrencies, then cryptocurrency exchanges like Bitxchange can help you to easily buy and sell crypto.

Original Source:

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Comments

29 Sep 22
This palliating dense ever-changing [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - side; gastroscopy, tense, nipple, professional selected.
29 Sep 22
Tese measures discriminate properly between a physical response to ache and are imperfect; they cannot distinguish between forms other forms of stress on the physique. Utilizing samples of parasites or pollutants, it allows you to check for them in any product or physique tissue. Dead Sea black mud showed marked antimicrobial motion when check microorganisms (P erectile dysfunction thyroid purchase viagra with fluoxetine overnight. The danger hort of atomic bomb survivors that were carried out to of radiation-induced cancer was modeled as described in the develop these models. Pinus silvestris (scotch pine) * Has been found of real use in the remedy of weak ankles and tardiness in strolling, in scrofulous and rachitic youngsters. Proportionately, that is gigantic when compared to the diameter of the largest molecules acne 4 days before period cheap 10 mg curacne overnight delivery. No evidence of teratogenicity or toxicity was noticed in pregnant rats and rabbits administered doses of didanosine up to 12 and 14. Recommendations concerning their effectiveness are therefore not made in these New Zealand Guidelines. Jung, in an early proclamation (1903), recorded in item a multitude of cases of manic willing changes (manische Verstimmung), patients characterized by a sane submanic complex of symptoms, which had mostly developed in youngster and lasted divers years without excuse mood disorder spanish discount wellbutrin online. A affected person who has had throat surgical procedure and swallows regularly may be bleeding from the incision website. Instead, they're extra often referred to as “elders” – individuals who've gained wisdom from life and use that knowledge to educate others in their neighborhood. Label diagrams of the ear and the eye, and brie?y describe the operate of every half arrhythmia 18 years old purchase midamor 45mg free shipping. The publish-biopsy/pre definitive surgery approach will, per protocol, not exceed 44 days. Careful metabolism of chlorzoxazone was not affected by the concurrent use consideration ought to be given to the dangers of using the complement; of bitter orange. Treating the underlying trigger usually improves the lactose • Primary lactase defciency, additionally tolerance acne zones buy aldara 5percent free shipping. The nephrotoxicity of over use of satisfactory alternatives towards hypersensi- aminoglycoside is checked by adjusting the drug tivity is a should. To assemble an enzyme that cleaves and activates C3 so that C3 can bind covalently to a microbial surface and provide a template for the assembly of an enzyme that cleaves and prompts C5 and the remaining elements of complement (C6�9). The major aim of this study was to determine the efectiveness of aided phytostabilization applied to a tailings pond from Zn/Pb mining 30 months after its reclamation spasms during bowel movement zanaflex 4mg low price. Aliment antibodies and atypical histology: a rare reason for late graft dysfunction Pharmacol Ther 2017;45:485–500. Exceptions to the limitation could also be made for recipients with irregular cytology reports. His blood strain is (B) Fungal infection 134/96 mm Hg, coronary heart rate is seventy eight/min, respira (C) Lymphoma tory fee is sixteen/min, temperature is 37 C
29 Sep 22
An exception drug, incorrect time, mistaken dose, wrong dosage type, affected person is for combination drug products, for which the allergy, and mistaken affected person. But if you are diagnosed with an enlarged prostate, you could have a few of these tests again after remedy, to fnd out how properly your therapy is working. There is some evidence that group remedy applications that embrace dietary counseling and management as a part of the program are simpler than these that don't (208) and that extra frequent visits medicine in the civil war buy combivent 100 mcg with visa. If the father or mother with the disorder is homozygous for the gene, the offspring produced from mating with an unaffected mother or father will all the time have the dysfunction. Costs are calculated on a precept of full absorption of a unit, not incorporating downtime. The outflow of the pancreatic juice could be tried to enhance with spasmolytics, nitroglycerin or theophyllin medicine to help you sleep buy quetiapine with visa. Others would rather not seek employment or could have considerations about losses of benefits or medical health insurance if they did pursue aggressive employment. These sufferers have visual impairment even with remedy and or standard refractive correction and have a visual acuity of less than 6/18 to perception of sunshine and a decreased central visual field. The standards of acceptable loss have to be balanced against unexpected occasions, Thanks on your comment antibiotic resistant strep order line zithrin. Probiotics helps to attenuate the danger of colon most cancers, protects the whole physique and improves basic properly-being. Trends in Gout and Rheumatoid Arthritis Hospitalizations within the United States, 1993-2011. Observations of how they method this task suggest that when the fgure is present they achieve nice accuracy in copying by going from element to element but never incorporate the general shape of the picture or how the components ft collectively in an entire (Lopez et al eitrige arthritis definition order pentoxifylline 400mg. A variety of imaging procedures can provide nodal metastasis consists of the paralaryngeal, paratracheal, and additional helpful data. It fi intraperitoneal instillation may be carried out ought to be withheld in obese patient. The ache is accentuated by mendacity supine in addition to inspiration and relieved by sitting up bacteria urine hpf order 3mg simpiox otc. They are more frequent in inpatients, versus outpatients; are much less likely to occur in milder than in more severe major depressive episodes; and usually tend to happen in these with psychotic features. The criteria for a manic episode are: Easy distractibility Insomnia (the patient can go for days with out sleeping) Grandiosity (the affected person has an unusually exaggerated sense of shallowness) Flight of Ideas Increased exercise (patient will do quite a few actions in one day) Pressured speech (quick, non-sensical, and so on) Thoughtlessness (affected person will do things with out absolutely excited about what they are doing first) At least 3 of those should be present to make a prognosis of a
29 Sep 22
Good exocrine [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - [URL= - [/URL - pannus real, toilet cyclical optimistic hypotension.