Economic calendar Friday, April 23
Dogecoin whales traded $ 12 billion in one day
The dramatic rise in the price of Dogecoin (DOGE), which ranks third in terms of market value, coincides with the resurgence of Dogecoin whales due to rising blockchain standards in the past 24 hours.
More than $ 12 billion in Dogecoin was transferred to the blockchain yesterday, according to BitInfoCharts. On that day, only $ 6 billion in ether (ETH) was processed in the Ethereum network.
Prior to the recent jump in Dogecoin due to Reddit pumps and Ilan Mask tweets, the currency had only reached $ 0.01 once in its eight-year history. The sudden increase of 400% of this currency and reaching a price higher than $ 0.30 during the last week, has attracted a lot of attention and has been followed by a review of Dogecoin subreddits.
According to Skew.com analysts, last week the number of new subscribers of this sub-reddit increased in line with the increase in the price of this Altcoin, from hundreds to thousands in one day.
An overview of the cryptocurrency market Saturday, April 3
Bitcoin dominance falls to its lowest level in 7 months
While most alternative coins have made significant gains over the past few days, bitcoins have stopped below the 60,000 level. The first cryptocurrency in the market has been struggling with this particular price line for some time, but all its repeated attempts to overcome this resistance have failed every time and pushed it down.
In the last 24 hours, BTC was only a few hundred dollars away from touching $ 60,000 again, but subsequent corrections reduced the asset to its lowest daily level of $ 58,500.
Despite recovering several hundred dollars worth of bitcoin and trading above $ 59,000 at the time of this writing, bitcoin dominance has suffered a major blow. In fact, the benchmark for comparing the BTC market value with other encrypted assets has dropped to 58.4%. This is the lowest level of bitcoin dominance in the crypto market since mid-September 2020. It should be noted that this criterion in early January 2021 was much higher than 70%.
Polkadat ranks fourth in the market
The last few days have been quite bullish for the Altcoins market. Atrium has led the way with the formation of several consecutive daily green candles, and as a result of these developments, it was able to conquer the territory of $ 2,000 again yesterday.
Of course, the market's second cryptocurrency did not stop here and continued to advance until a new downturn of around $ 2150 (on Bitstamp). Despite some modifications since then, ETH is still trading above $ 2,100.
Bainance Quinn fell slightly from yesterday's record above $ 350 and traded around $ 340. Cardano and Theta have had minor gains, while LightQueen (6%), Ripple (12%) and Uni Swap (11%) are all green.
Nevertheless, Polkadat had the most significant performance among the top 10 currencies in the market, with a significant increase of 22% on a 24-hour scale. As a result, DOT became the fourth cryptocurrency in terms of market value, setting a new record at $ 46.5.
Double-digit growth in tokens such as Holo (57%), Livepeer (42%), BitTorrent (19%), EOS (14%), Solana (13%) and Cosmos (12%) is also significant.
Finally, the total market value of cryptocurrencies remains above $ 1.9 trillion, but it is still about $ 30 billion before it touches $ 2 trillion for the first time.
the cryptocurrency market Thursday, March 25
Bitcoin lost more than $ 6,000 in value
The situation seemed to change in favor of this superior currency after the news of the acceptance of Bitcoin by Tesla as a payment option was published. At the same time, however, Bitcoin rose by several thousand dollars to $ 57,000. But since then, Bitcoin has fallen below $ 6,500 to $ 5,500 a day. Despite the return of the price to the level of $ 53,000, Bitcoin still shows a 4% decrease in 24-hour timeframe.
What is more remarkable than the fall in the price of Bitcoin is the devaluation of the currency below $ 1 trillion. According to Bybt data, the increase in fluctuations since yesterday has led to a decrease of more than $ 2 billion in the total market value of this currency.
Altcoins drown in a sea of blood
After a few days of margin trading, the Altcoins market situation looked good yesterday with slight gains. Atrium pioneered this growth, rising to $ 1,700 and $ 1,740. However, the situation has changed completely in the last 24 hours. The sudden drop of $ 200 in the price of ETH caused this asset to reach its daily low price of $ 1550 a few hours ago. Since then, ETH is still below $ 1,600, down more than 6 percent.
Today, red dominates other altcoins. Binance Quinn (5%) and Cardano (2.5%) reached $ 245 and $ 1.1, respectively.
Polkadat fell 13% to $ 31, Ripple (-10%) fell below $ 0.5, (11.5%) to $ 27, LightQueen (-9%) to $ 175 and Theta (-18%) to around $ 12. .
Theta Fuel (-24%), IOTA (-15%), Ontology (-13%), Phantom (-12%), OMG Network (-12%), Flow (-12%), Ren (-12%) , SushiSwap (-12%) and 0x (-11%) are other fallout altcoins today.
Finally, the cumulative capital of the cryptocurrency market fell by $ 150 billion to $ 1.620 trillion.
An overview of the cryptocurrency market Thursday, March 11
Bitcoin, which was close to the last record set at around $ 1,000, was once again rejected and fell below $ 56,000. However, minor corrections among the Altcoins allowed BTC to regain some of its lost dominance in the market.
Bitcoin was only 2% away from its latest record
Over the past few days, the market's top cryptocurrency has been on the rise after falling to $ 47,000. On the other hand, as organizations became more interested in Bitcoin, its price rose.
The incident hit the $ 50,000 level again, but the cows did not stop at that level, pushing the cryptocurrency to its two-week high of about $ 57,000. According to data released by Bitstamp, the highest daily BTC rate yesterday was around $ 57,400. At this time, the distance between Bitcoin and its highest price level reached about $ 1,000 (1.75%). However, the currency failed to defend this level and reached the current level of $ 55647 following the latest price corrections.
What is remarkable is that the bitcoin market capitalization currently remains well above the $ 1 trillion mark.
Increasing bitcoin dominance
The value of more replacement coins increased with their leader. These developments led Atrium to cross the $ 1,800 mark with a $ 400 increase in one day. However, ETH has fallen slightly since yesterday and is below this sensitive level.
Cardano (-5%), Polkadot (-5%), Ripple (-5.2%), Chainlink (-5.8%) and Uniswap (-5%) have lost some of their value in the last 24 hours.
Binance Coin and Litecoin remain almost unchanged, trading at around $ 275 and $ 195, respectively.
As expected, the situation has been significantly more volatile among low and medium market value altcoins. Meanwhile, Theta Fuel had the best performance with 50% growth. It is followed by Hedera Hashgraph (25%), THETA (19%), Basic Attention Token (15%), Zilliqa (12%) and Bitcoin Gold (11%).
Polygon, on the other hand, fell 10 percent, the biggest drop since yesterday. Avalanche (-9%), Decentraland (-9%), Fantom (-6.5%) and PancakeSwap (-6%) are also in the next ranks.
The relative cessation of large market altcoins has helped bitcoin reassert its dominance in the cryptocurrency market. Thus, the benchmark for comparing the market value of BTC with other altcoins has reached above 61%.
Check the gold trend Monday, March 8
The global ounce price rose 0.57% to $ 1,708 as Monday's trading session in Europe approached. Thus, the price of gold has started to rise from its 9-month low.
Given the RSI indicator reached the sell-off zone and the formation of a Dodge candlestick pattern on Friday, there is a possibility that this corrective trend will continue.
However, the bearish trend line since November 30 at $ 1,760 is a resistance.
Meanwhile, the $ 1,700 level plays the role of the first important support that if the price penetrates below this level, we can expect a fall to the downtrend line formed on August 12 at $ 1,677.
If the $ 1,677 support is broken, the price of gold will fall to the level of $ 1,670 and eventually to $ 1,610.
Last price of the day: $ 1707.8
Daily fluctuations: 9.6
Daytime fluctuations (٪): 0.57
Starting price: $ 1698.2
20-day moving average: $ 1779.02
50-day moving average: $ 1829.15
100-day moving average: $ 1848.59
200-day moving average: $ 1860.11
Yesterday's highest price: $ 1707.26
Yesterday's lowest price: $ 1687.37
Last week's highest price: $ 1759.98
Last week's lowest price: $ 1687.37
Last month's highest price: $ 1871.9
Last month's lowest price: $ 1717.24
Fibonacci 38.2. Daily: $ 1699.97
Fibonacci 61.8. Daily: $ 1695.16
Pivot S1 Daily: $ 1687.89
Pivot S2 Daily: $ 1677.39
Pivot S3 Daily: $ 1667.4
Pivot R1 Daily: $ 1708.18
Pivot R2 Daily: $ 1718.17
Pivot R3 Daily: $ 1728.57