Asian first drive: Bitcoin rally stall after comment on the US central bank seat; Ether rises
Good morning. This is what happened this morning:
Market Mountains: Bitcoin falls on the comments of the powell seat U.S. Fed, while ether get more market share.
Technician’s Dress: Supporting levels remain intact, which can set a strict trading coverage between $ 55,000 – $ 60,000 BTC into Asian trade days.
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Price
Bitcoin (BTC): $ 57,157 -1.3%
Ether (ETH): 4.642 + 4.4%
Market
S & P 500: 4,567 -1.9%
Dow Jones Industrial Average: 34,483 -1.8%
NASDAQ: 15,537 -1.5%
Gold: 1,772 -.80%
Moving Market
The price of Bitcoin slumped after the federal backup seat U.S. Jerome Powell warned on Tuesday that a higher inflation risk has “increased,” indicating the central bank will consider binding reducing the policy of purchasing assets which have pushed the market for risk assets.
“A Lancer Fed Fasters and an increase in expectations of interest rate increases are bad news for Bitcoin,” Edward Moya, senior market analyst at Olanda’s foreign exchange broker, wrote in market comments. “Bitcoin trades more like a risky asset than inflation hedging.”
On the other hand, ether, the second largest cryptocurrency by market capitalization, ended on Tuesday with the fourth day in a row, trading above $ 4,600, according to the data coindesk.
“Ethereum is still a favorite crypto bet for most traders and it looks like it will make another run towards $ 5000 after the risk of appetite,” Moya added.
Market dominance that grows ether is also reflected in the ether-bitcoin graph (eth / btc): the daily graph of the ETH / BTC about the Crypto Exchange Binance rose more than 5.2%, at the time of writing, according to TradingView.
Other layers of tokens related to the blockchain also posted an increase on Tuesday, led by Luna Terra Blockchain tokens, which recounts a new record at high prices.
