Major cryptocurrencies saw trading as they fell globally on Tuesday night Cryptocurrency Market cap fell 0.2% to $805.9 billion at 7:14 PM ET.
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Important reasons: Bitcoin When ethereum It was in the red, just like stock futures were a little lower on Tuesday night.
Risk assets didn’t get off to the best start to 2023, with the S&P 500 and Nasdaq down 0.4% and 0.8% respectively on Tuesday.
Later this week, investors will be eagerly waiting for the Federal Reserve to release the minutes of its latest policy meeting. Also due is a survey number for job openings and turnover and her ISM manufacturing data.
Bitcoin celebrates its “birthday” on Tuesday 14 years have passed Since the first block of cryptocurrency was mined by its pseudonymous creator Satoshi Nakamoto.
Cryptocurrencies, including Bitcoin, are not out of the woods yet. Edward MoyaSenior Market Analyst at OANDA.
“This is still a difficult time for cryptocurrencies as everyone is waiting for the next crypto company to go bankrupt. Regulation will take time, but guidelines should start to take hold this year.” ‘s top regulators have issued a joint warning on crypto activity that contains no new risks,” Moya said in a memo seen by Benzinga.
“Bitcoin appears to be anchored, but it is not yet clear when it may test and make new bottoms.”
The joint statement Moya referred to, federal reserve, Federal Deposit Insurance Corporationand the Currency regulator.
“It is important that risks associated with the crypto sector that cannot be mitigated or controlled do not migrate into the banking system,” the statement said. “The authorities will continue to closely monitor bank exposures related to crypto-assets,” it said.
Michael van de Poppe Ethereum needs to bounce back from current levels, or “things will get worse,” he tweeted.
In another tweet, the analyst said the second-largest cryptocurrency was “nearing critical levels.”
“If they are lost, [the] The structure has been lost and $1,165 and below is on the cards,” said Van De Poppe.
Santimento noted that traders were “aggressively shorting” altcoins on Tuesday, and some assets may be ready for a short sale.
Included some of the “small breakout” candidates identified by the market intelligence platform Solana (sol), DigiByte (DGB), Hippopotamus (KAVA), and zcash (ZEC).