Ethereum
Analyst Predicts $4,000 For ETH In Next Two Weeks
Bitcoin Holds, Ethereum, Dogecoin Drop Due to Market Crash: Analyst Predicts $4,000 for ETH in Next Two Weeks
Bitcoin held steady, while Ethereum slumped on Wednesday as the stock market recorded its worst trading day since late 2022.
|
Cryptocurrency |
Gains +/- |
Price (Recorded at 8:35 p.m. EDT) |
|
Bitcoin (CRYPTO: Bitcoin) |
-0.55% |
$65,491.11 |
|
Ethereum (CRYPTO: ETH) |
-3.92% |
$3,333.04 |
|
Dogecoin (CRYPTO: DOGE) |
-1.55% |
$0.1281 |
The world’s largest cryptocurrency Bitcoin Bitcoin was little changed after a sharp rally to $67,000 that was reversed by later selling. The cryptocurrency has been on a downtrend this week, falling 5.7%.
Ethereum Spot ETFs sold off heavily, despite an impressive debut in the US stock market, validating some of the earlier forecasts made by analysts.
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Over $250 million locked in derivatives has been liquidated in the past 24 hours, with long liquidations equating to $219 million. Ethereum leads the way with $82 million in liquidations.
The crisis caused a sharp drop in futures open interest for both assets, with Ethereum seeing a sharper decline of 5.4%.
Bearish bets for Ethereum have increased relative to bullish bets over the past 24 hours, signaling a bearish mood.
The Cryptocurrency Fear and Greed Index continues to display the message “Greed” as of this writing.
Top Winners (24 Hours)
|
Cryptocurrency |
Gains +/- |
Price (recorded at 8:35 p.m. EDT) |
|
To flow (TO FLOW) |
+9.14% |
$0.6571 |
|
Jupiter (JUP) |
+4.45% |
$1.00 |
|
XRP (XRP) |
+3.67% |
$0.6198 |
The global cryptocurrency market stands at $2.37 trillion, after falling 1.17% in the last 24 hours.
The stock market fell on Wednesday, recording its worst performance since 2022. The general market index S&P 500 fell 128.61 points, or 2.31%, to close at 5,427.13. Nasdaq Composite Index fell 3.64% to close at 17,342.41. The leading index Dow Jones Industrial Average fell 1.25% to close at 39,853.87.
Tendency:
The drop comes after heavy selling in shares of tech giants Alphabet Inc. (NASDAQ:GOOGLE) And Tesla Inc. (NASDAQ:TSLA) in the middle of their second quarter earnings reports. Tesla fell 12.3% during the session, its worst since 2020, while the Google The parent company fell by 5%.
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Analyst’s Notes: Leading Cryptocurrency Researcher Ali Martinez highlighted the importance of $66,000 as a “crucial” support level for King Crypto, the holding of which would strengthen its chances of reaching new all-time highs.
In a previous article on X, he noted that Bitcoin needs to break above $66,450 for sentiment to turn bullish.
Another widely followed cryptocurrency influencer Sheldon the Sniper expressed a bullish outlook for Ethereum, saying that corrections only serve to test the resolve of HODlers. “ETH to 4,000 in the next week or two,” the analyst predicted.
$ETH CHART $ETH It’s been a long time since it sounded this optimistic.
This is the withdrawal to make sure you are inside if you are a $ETH believer, there are 2 main areas to buy. The first area has been hit, the second might be, it might not be. $ETH to 4K in the next week or two. These… pic.twitter.com/PJL3zObgvP— Sheldon the Sniper (@Sheldon_Sniper) July 24, 2024
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This item Bitcoin Holds, Ethereum, Dogecoin Drop Due to Market Crash: Analyst Predicts $4,000 for ETH in Next Two Weeks originally appeared on Benzinga.com
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