June 30, 2022 11:57 pm

A new social media platform Truthbook.social built by the people for the people, a force for good.

Altcoins Outperform as Bitcoin Stabilizes

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

We are a not for profit Independent Media Group, which survives off donations. Even as little as $5 per month, from our generous readers. Please donate now, to help fund our work.

Altcoins Outperform as Bitcoin Stabilizes

By Damanick Dantes

Bitcoin’s price is starting to stabilize after a near-4% drop over the past week. The cryptocurrency was trading around $57,000 at press time and could go higher, initially toward $60,000-$63,000, according to technical indicators.

Analysts expect trading volumes to decline this week given the U.S. Thanksgiving holiday on Thursday. “The last three years we’ve had downward volatility every time around this holiday; could be due to end of month rotations, options/futures expiries and rebalancing,” CryptoQuant wrote in a blog post.

Bitcoin is up about 3% over the past 24 hours, compared with an 8% rise in ether. Alternative cryptocurrencies are gaining ground relative to bitcoin, suggesting that traders are taking on more risk as the recent sell-off stabilizes.

Latest prices

  • Bitcoin (BTC): $57,854, +3.83%
  • Ether (ETH): $4,382, +8.32%
  • S&P 500: $4,690, +0.17%
  • Gold: $1,791, -0.99%
  • 10-year Treasury yield closed at 1.68%

Increased market fear

The bitcoin Fear & Greed index is at the lowest level since late September, which preceded a BTC price recovery. The index suggests market participants are in “fear” mode, which some analysts view as a contrarian signal as buyers gradually return to the market.

“Typically in bull markets, the index indicates ‘greed’ or ‘extreme greed’ for more extended periods with short periodical visits to the ‘fear’ area, just like we saw this spring,” Arcane Research wrote in a Tuesday report.

Bitcoin Fear & Greed Index

Bitcoin versus the dollar

On the flip side, a rising U.S. dollar could be a headwind for bitcoin. The U.S. dollar has strengthened over the past few weeks as investors anticipate tighter monetary policy.

“We’ve seen a considerable run-up in the dollar alongside Fed funds rate futures, which now imply 100% chance of two rate hikes by end of 2022 and a nearly 40% chance of a third rate hike by next December,” Delphi Digital, a crypto research firm, wrote in a report Tuesday.

The chart below shows the recent rise in the dollar (inverted scale), which could signal further downside in bitcoin’s price. Generally, tighter monetary policy is negative for risk assets including stocks and cryptocurrencies.

Bitcoin vs. dollar

Altcoin roundup

  • Crypto options traders turn to DeFi for altcoin bets: The Singapore-based firm QCP Capital now trades more than $1 billion of crypto options per month using decentralized financial applications, including $1 million worth of AAVE options recently with Ribbon Finance, CoinDesk’s Omkar Godbole reported.
  • Binance rebuilding DOGE wallet to deal with user account freeze: Users previously told CoinDesk their accounts were frozen by the exchange until they returned the DOGE, which was incorrectly transferred, back to the exchange. The incident led to Elon Musk starting a Twitter war with the exchange.
  • NFT marketplace Rarible launches messaging feature: The non-fungible token (NFT) marketplace Rarible.com has launched a direct messaging function that allows users and creators to communicate using crypto wallet addresses rather than social network usernames, CoinDesk’s Brandy Betz reported.

Other markets

Most digital assets in the CoinDesk 20 ended the day higher.

Notable winners as of 21:00 UTC (4:00 p.m. ET):

  • Polygon (MATIC): +12.03%
  • The Graph (GRT): +6.73%
  • Uniswap (UNI): +6.09%

Notable losers:

  • Stellar (XLM): -0.29%
  • Cardano (ADA): -0.23%
  • Filecoin (FIL): -0.15%

    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 help you to easily buy and sell crypto.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

We are a not for profit Independent Media Group, which survives off donations. Even as little as $5 per month, from our generous readers. Please donate now, to help fund our work.

Truthbook.social offering hundreds of thousands in giveaways for those joining its new social media platform as many desert Facebook in droves because of censoring

Here is some of the current incentives being offered to new users

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

For ANR Smaller Donors please donate below to help fund our critical not for profit work. Together we can defeat mainstream media.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published.

Play Video

McIntyre Report
Political Talk Show

Jamie McIntyre
TruthBook.social Videos

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Current Price of Bitcoin 2.0
0.10 on Azbit

Nurses Speak Out

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset and help us expose the Covid Fraudsters

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY