ביטקאָין

ביטקאָין באַטאַלז 2-חודש קעגנשטעל צווישן 'רובֿ געהאסט' סטאַקס מיטינג

08/11/2022
ביטקאָין עטהערעום נייַעס

ביטקאָין (בטק) pierced the top of a stubborn trading range on Aug. 11 as a decidedly awkward rally took hold of risk assets.

בטק / וסד 1 שעה ליכט טשאַרט (ביצטאַמפּ). מקור: טראַדינגוויעוו

Bitcoin retracement warnings intensify near $25,000

דאַטן פון קאָינטעלעגראַף מאַרקעץ פּראָ און TradingView showed BTC/USD hitting highs of $24,750 on Bitstamp, marking its best performance since June 13.

The pair had attempted several breakouts to the top of the range in prior weeks, these all פאַילינג in the face of stiff selling pressure.

New United States inflation data באפרייט this week formed a long-awaited catalyst for change, however, with Bitcoin and altcoins rising in step with equities as the Consumer Price Index (CPI) print for July suggested that inflation had peaked.

On Aug. 10, the day of the release, the S&P 500 and Nasdaq Composite Index gained 2.1% and 1.9% respectively. BTC/USD, on the other hand, saw a daily candle of around $900.

בילד

Rather than pile on the optimism, however, market commentators were anything but blanket bullish as the dust settled. Sentiment, investor Raoul Pal noted, was treating the post-CPI rally as a black sheep.

“Well, this appears to be one of the most hated rallies I’ve seen in quite few years in equities,” he דערציילט Twitter followers in a dedicated thread.

Pal nonetheless argued that there was a “very decent chance” that equities had seen their lows in June.

Forecasting a major change of tune in crypto, meanwhile, popular trader and analyst Il Capo of Crypto stuck by $25,500 as the maximum likely target before a new downtrend began.

“$BTC Pumped almost 40%. Huge Possibility, Retrace Coming. Buy The Dip,” fellow account Jibon געצויגן in further Twitter comments.

A slightly more hopeful Crypto Tony meanwhile האט that hodlers would be “in for a treat” if the range high managed to hold.

Eyeing potential similarities between the Bitcoin chart now and in March 2020, BTCfuel added that a further breakout was not off the cards.

Doubts emerge over Ethereum rally

The impressive performance across altcoins meanwhile put largest altcoin Ether (עטה) firmly in the spotlight after ETH/USD פארדינט איבער 11%.

פֿאַרבונדענע: ביטקאָין דאַמאַנאַנס היץ 6-חודש לאָוז ווי מעטריק פּראָקלאַימז נייַ 'אַלט סעזאָן'

The pair continued its gains on the day, passing $1,900 for the first time since June 6 and now approaching the psychologically significant $2,000 mark.

The CPI momentum added to an already excitable Ethereum market, with the Goerli testnet merge — a  key preparatory step for the full Merge event in September — concluding successfully.

“Since the start of this bear market rally, in the middle of June, Ethereum is gaining dominance in terms of trading volume relative to Bitcoin. In the latest few days, Ethereum and Bitcoin Dominance has even crossed,” Maartuun, a contributing analyst at on-chain data platform CryptoQuant, געשריבן in a blog post on Aug. 10.

Maartuun cautioned that historical precedent nonetheless did not favor a sustained rally across crypto should this continue to be led by ETH.

“It is clear that Ethereum is very popular on exchanges, because of the gaining dominance. That makes sense because of the upcoming 2.0 merge,” he continued.

“However, from my 5-year experience in the cryptomarket, rally’s which are led by Ethereum are usually not the healthiest thing for the market. As you already could read in my previous analysis, I’m very conservative. Especially because Ethereum already made a > 100% move from the lows.”

ETH / USD 1-טאָג ליכט טשאַרט (בינאַנסע). מקור: TradingView

די מיינונגען און מיינונגען וואָס זענען אויסגעדריקט דאָ זענען בלויז די מחבר און טאָן ניט דאַווקע פאַרטראַכטן די קוקן פון Cointelegraph.com. יעדער ינוועסמאַנט און טריידינג מאַך ינוואַלווז ריזיקירן, איר זאָל דורכפירן דיין אייגענע פאָרשונג ווען איר מאַכן אַ באַשלוס.