“The Crypto Market Was Unfazed by the escalating Conflict in the Middle East on Monday.”, – WRITE: www.coindesk.com
Bitcoin
Has Risen 3.1% in the Last 24 Hours and Is Now Trading for $ 108.600, Only A Couple of Thousand Dollars Below It-Time Record. It Certainly Wasn’t Alone in Its Ascension. The Coindesk 20 – An Index of the Top 20 Cryptocurrencies by Market Capitalization, Excluding Stablecoins, Memocoins and Exchange Coins – Is Up 4.3% In The Same Period of Time, Buj.
and Chainlink
whochh bot notched 6-7% Gains, and MOST Other Tokens Rising at Least 3%.
A Check at Traditional Markets Shows that Risk Appetite Has Returned After Last Week’s Jitters on Israel and Iran Launching Missils. The S&P 500 and The Nasdaq Indexes Bounced 0.9%and 1.4%, While Safe Haven Gold Declined 1.5%.
Crypto Stocks Also Joined the Surge. Coinbase (Coin) and Circle (CRCL) Closed The Day 7.7% and 13% in the Green. Among Bitcoin Mines, Bitdeer (BTDR) and Hut 8 (Hut) Gained 6.9% and 5.6% Respectvely. Remarkably, One of the Only Equities in the Red Was Strategy (Mstr), WHICH LOST ALMOST 0.2%, While Rival Bitcoin Treasury Companies Metaplanet Rose.
Positive Crypto-Related News Added Further Fuel to Today’s Rally: Jpmorgan Has Filed A Trademark Application for A Product That Seeks To Offer Digital Asset Services Suches Suchis Suchs Such. Issuance. Meanwhile, Asset Manager Purpos Is Set to Launch ITS SPOT XRP Exchange-Traded Fund in Canada Asada as Momentum for Altcoin-Foccused Etfs Grows.
WHEN ALTCOIN SEASON?While Today’s Altcoin Outperformance May have Inspired some Traders’ Hope for An ImMinent Alt Season, Nansen Research Analyst Nicolai S Byrdergaard Powed Water on Such.
It’s Still Bitcoin That’s Leading The Market, He Said, with Strength of FTEEN TRACING Back to the Largest Crypto’s Performance.
“BTC HAS MOSTLY Served As a Trigger for Altcoins,” S ByrderGaard. “Somets Alts Also Doll. Btc Breaks An ath? The Market Likes That.” Some Profits from Btc’s Rise to Fresh Record High May have Trickled Down to Other Cryptos, While Some Sectors Such As Defi Have Enjoyed Short-Term Burst.
“TheSe have, However, not Been Prolonged Runs for Alts, and Looking at the Grand Scheme of Things, MOST ALTS HAVE BEEN BLEEDING FOR SOME TIME,” HE Said. The Focus is Still Very Much on Btc. ”
Bitcoin’s Strong Rebound from FRIDay’s Low Could Bode Well For the Crypto Market.
Bitfinex Analysts Noted that Sentiment Index Fear and Greed Index Droped Into “Fear” Territory Last Week, While Bitcoin’s Net Taker Volume Showed Aggressive Selling.
“This Behavior, Combined with A Spike in Liquidations, RESEMBLES PAST CAPITULATION-STYLE SETUPS THAT OFFEN MARK LOCAL BOTTOMS,” The Analysts Said. “If BTC Can Hold the $ 102,000- $ 103,000 Zone, It May Suggest That Selling Pressure Is Being Absorbed and that Market Could Be Primed For Recovery.”
Eyes on the Fed and PowellFrom A Macro Lens, Attraction Is Squarely On the Federal Reserve and Fed Chair Jerome Powell’s Press Conference.
INVESTORS OverWhelmingly Expect The Fed To Kiepe Benchmark Rates Steady This Week and The Following Meeting in July, Accounting To The CME Fedwatch Tool, Market Participant Focus on Partic on Parti Policymakers Navigate Inflation and Job Market Pressures.
“Powell’s Tone, Not The Rate Decision, Will Drive Volatility,” Digital Asset Analytics Firm Swissblock Said in a Monday Note. “Expect Wiplash Trading Across Commodities, YIELDS AND RISK Assets.”
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