THELOGICALINDIAN - Cryptocurrencies are seeing some acceptable assets over the accomplished two canicule afterwards bazaar capitalizations absent billions aftermost weekend Over the aftermost six canicule the absolute agenda asset abridgement has apparent an access of about 15Bn and now averages about 268Bn on Monday July 16 Agenda bill proponents are hopeful the accomplished six months of bearish bazaar affect is over and brighter canicule may be ahead
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Bullish Optimism Creeps Into the Cryptocurrency Market Sentiment, With a Possibility of Brighter Days Ahead
Digital asset traders and enthusiasts are optimistic cryptocurrency markets may about-face their bottomward trend over the abutting few weeks arch up to the Cboe ETF decision. Aftermost weekend markets were seeing losses beyond the lath as the top cryptocurrency ethics had alone 5-25 percent adequately quickly. But back again over the advance of the week, agenda bill prices accept aggregate beef and regained at atomic 2/3rds of aftermost week’s losses. Overall barter aggregate is about $12.8Bn and has been almost anemic over the accomplished few months but has apparent a slight access today.
Bitcoin Core (BTC) Market Action
The accepted bitcoin amount (BTC) atom amount appropriate now is about $6,687 per BTC at the time of publication. BTC 24-hour barter aggregate is about $4.4Bn over the aftermost day and the cryptocurrency has a $114.5Bn bazaar valuation. The top exchanges swapping the best bitcoin amount today accommodate Bitflyer (1.8Bn), Fcoin ($325Mn), Coinbene ($281Mn), Binance ($196Mn), and Bigone ($187Mn). On July 16, the best traded bill exchanged for BTC is the Japanese yen capturing 49 percent of the intraday’s trades. This is followed by binding (USDT 33%), USD (10.2%), EUR (2.4%), and the KRW (1.8%). Out of the 1600 agenda bitcoin core’s bazaar ascendancy is about 42 percent.
BTC/USD Technical Indicators
Looking at the 4-hour BTC/USD archive on Bitstamp and Coinbase shows beasts are blame markets advanced attempting to claiming the $6,800-7,000 resistance. Around 1 pm EDT about backbone basis (RSI) levels appearance overbought altitude at 76. The two Simple Moving Averages (SMA) accept beyond hairs afresh and the 100 SMA is aloft the 200 SMA. This indicates the aisle of atomic attrition is appear the upside. MACd is branch arctic and shows added advance could be in the cards today. Looking at adjustment books shows BTC beasts charge to able the $6,800-7,000 area and afterwards that is smoother seas up until $7,200. On the backside, if bears took the reigns afresh there is affluence of abutment bottomward to $5600 for absolutely some time.
Bitcoin Cash (BCH) Market Action
Bitcoin banknote (BCH) bazaar activity shows the amount is about $800 per bread this Monday. The decentralized cryptocurrency’s all-embracing bazaar assets is about $13.77Bn and circadian barter aggregate has added to about $494Mn. BCH holds the fifth accomplished barter volumes today out of the top cryptocurrencies and is the fourth better bazaar cap. The top trading platforms exchanging the best BCH today accommodate Bigone ($58Mn), Okex ($56Mn), Binance ($48Mn), Coinex ($48Mn), and Hitbtc ($41Mn). The top bill pairs traded with bitcoin banknote today accommodate binding (USDT 47%), BTC (28%), USD (12%), KRW (3.5%), ETH (2.7%).
BCH/USD Technical Indicators.
BCH/USD 4-hour and 30-minute archive attending actual agnate to BTC/USD archive today and are assuming similarly. However, the two SMAs are altered with the 200 SMA aloft the 100 SMA advertence the aisle appear atomic attrition is the downside. Analogously to BTC/USD, RSI levels are about 79 appropriate now assuming overbought conditions. MACd looks like it could bang up added but ability arch southbound over the abutting hour. Looking at adjustment books shows some actual ample walls amid the accepted angle point and $840. If BCH beasts can move accomplished the $860 breadth again things may advance alike more. On the behind archive appearance from now up until $650 there is able support.
The Verdict: Traders Seem Positive and Hope for More Green Candles
The adjudication this time about is far added absolute as markets accept bigger a abundant accord this week. Most of the top cryptocurrencies accept apparent about 5 percent in assets over the accomplished 24-hours but bill such as LTC, IOTA, and NEO accept fabricated notable increases. As mentioned above, a lot of traders anticipate markets ability abide to ascend as the ETF accommodation approaches. The accessible aftereffect of this accessible accommodation may accept absolute a animation of beginning air into the cryptocurrency economy.
Where do you see the amount of BCH, BTC, and added bill headed from here? Let us apperceive in the comments below.
Disclaimer: Price accessories and markets updates are advised for advisory purposes alone and should not to be advised as trading advice. Neither Bitcoin.com nor the columnist is amenable for any losses or gains, as the ultimate accommodation to conduct a barter is fabricated by the reader. Always bethink that alone those in ascendancy of the clandestine keys are in ascendancy of the “money.”
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