the Bitcoin and theEther these are traded lower, while the Dogecoin soared Sunday night; the global crypto market capitalization lost 2.3%, touching $942 billion at the time of this article’s publication.
|Token||at 24 hours||at 7 days||Price|
|Bitcoin (CRYPTO:BTC)||– 2%||+ 2.9%||$21,052.35|
|Ethereum (CRYPTO:ETH)||– 3.2%||+7.3%||$1,203.12|
|Dogecoin (CRYPTO:DOGE)||+8.8%||+ 24.5%||$0.07|
|Token||% change at 24 hours (+/-)||Price|
|ApeCoin (CRYPTO:APE)||+ 4%||$4.73|
|Ethereum Classic (CRYPTO:ETC)||+ 2%||$16.9|
Why this matters
BTC and ETH fell into negative territory as S&P 500 and Nasdaq futures fell 0.5%,
the volumes of the top two tokens in the crypto-sphere remaining muted throughout the weekend. In contrast, DOGE soared with overnight trading volume up 113.1% to $908.65 million, according to data from CoinMarketCap.
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According to the price-tracking site, the shiba crypto meme was the top performing coin at the time of this article’s publication.
DOGE’s rebound came after the bullish breakout from an inside double bar pattern, continuing the strong trend started after hitting key support at 5 cents on June 18, Benzinga’s Melanie Schaffer explained.
“Bitcoin still does not match the gains seen with stocks as sentiment remains depressed. Selling pressure may ease, but no solid buyers have yet emerged,” writes Edward Moyasenior market analyst at OANDA, in a note seen by Benzinga.
Alternative.me’s Fear and Greed Index indicated “extreme fear” at the time of this article’s publication. Investor sentiment remains unchanged from last week, despite the value underlying the index falling from 9 to 12 during the period, knowing that a value closer to 0 means “extreme fear” and that 100 corresponds to “extreme greed”.
Over the weekend, cryptocurrencies showed some resilience. The cryptocurrency trader
Michael van de Poppe noticed this development, tweeting, “Weekend fake selling happening and likely ending at the CME close at $21.1000 for [Bitcoin] adding that there was no definite break above $21,600 yet.
Standard weekend fake-outs happening and probably ending at CME close at $21.1K for #Bitcoin.
No clear breakout above $21.6K at this point, yet.
— Michael van de Poppe (@CryptoMichNL) June 26, 2022
Justin Bennett asserted that the cryptocurrency market is breaking support or looks set to break support. He noted the rally, saying the market was going through a period of “small fake sells” above the $940 billion market cap.
“I doubt it will last much longer,” he explained in a recent tweet.
Everything is either breaking support or looks ready to.$TOTAL with a small fakeout above $940B. Now weighing on channel support.
— Justin Bennett (@JustinBennettFX) June 25, 2022
Ether is seeing an increase in profits after a medium rebound, reports Santiment. The financial news platform reported that whale activity for the cryptosphere’s second token was weak and was not the source of the rise.
#Ethereum is enjoying a nice weekend rise, and the #2 market cap asset’s price is now up +30% in the past week. It appears there is quite a bit of profit taking on this mid-sized bounce, and the low whale activity indicates it isn’t coming from them. pic.twitter.com/NWFMmWFRGq
— Santiment (@santimentfeed) June 25, 2022
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Bitcoin and Ethereum plunge, Dogecoin defies gravity
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