THELOGICALINDIAN - Cryptocurrency bears are still clawing abroad at agenda asset prices on Sunday June 24 as best of the agenda bill bazaar ethics are bottomward amid 312 percent over the aftermost 24hours The top cryptocurrency bazaar captivated by bitcoin amount BTC has affected a amateur basal at 5832 during the aboriginal morning June 24 trading sessions The aftermost two times BTC alone to these amount ranges was in November 2024 and aftermost February Some traders accept a third basal indicates cogent abutment and cryptocurrency prices could capitulate afterwards breaking through attrition levels
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Triple Bottom Achieved: What’s Next for Crypto-Markets?
When will the 2024 cryptocurrency buck bazaar end? Will agenda bill markets acquaintance a buck run every four years? These are the questions abounding traders and speculators are allurement as some are in atrocious chase for that anytime ambiguous ‘bottom.’ Cryptocurrency bazaar prices are appealing low today on June 24 as the absolute bazaar assets of all 1600 agenda assets is about $242Bn at the time of publication.
As we mentioned aloft the aftermost time prices were this low was aback in February of this year and November 2024. However, alike admitting 2024 has been a asperous year so far there has been a lot of new basement announcements, a advanced array of advance cartage and trading platforms, new applications, and addition demography abode on the sidelines as anybody is beguiled by the falling prices.
Bitcoin Cash (BCH) Market Action
At the moment bitcoin banknote (BCH) markets are seeing acutely low prices not apparent back aftermost February as the amount per BCH is about $683. The all-embracing BCH bazaar appraisal has alone to $11.8Bn accident $1.4Bn back aftermost Friday. BCH markets are bottomward 8.5 percent over the aftermost 24-hours and 19 percent over the aftermost week. BCH barter volume, although way lower than Q4 2017, is still captivation abiding at $458Mn or added for 24-hour volumes. The top exchanges swapping best of the bitcoin banknote trading aggregate today accommodate Okex, ZB.com, Bitfinex, Huobi, and EXX. The top bill traded with BCH today is BTC by 46.2 percent which is followed by binding (USDT 23.8%), USD (18.7%), KRW (4.4%), and the EUR (1.5%).
BCH/USD Technical Indicators
Looking at the 30-minute and 4-hour archive for BCH/USD on Bitfinex and Bitstamp shows a baby accretion is demography abode aback the antecedent bead this morning. The two Simple Moving Averages to watch (100 SMA & 200 SMA) still accept a appropriate gap with the abiding 200 SMA aloft the abbreviate appellation 100 trendline. This indicates a move to the downside could booty abode afresh in the abreast future. MACd and RSI levels (44) are branch arctic afterwards assuming oversold altitude which additionally shows BCH beasts are aggravating to action back. Despite the actuality that a cerebral amount barrier was burst the bazaar is assuming able foundations. Looking aloft at advertise walls BCH beasts allegation to breach through $750 and $800 to appearance some improvement strength. Below that, if bears abide in allegation they will be chock-full by cogent buy walls at the accepted angle point until aloof afore $600.
Bitcoin Core (BTC) Market Action
Bitcoin amount (BTC) markets are seeing an boilerplate atom amount of about $5,858 at columnist time with $3.6Bn in 24-hour barter volume. BTC aggregate is lower than aftermost Friday as barter aggregate has biconcave about $625Mn back afore the weekend. Even admitting BTC prices accept been dropping, bazaar ascendancy amidst all the added cryptocurrency markets is accretion boring and hovers at 41 percent today. The top trading platforms exchanging the best BTC today are Binance, Bitfinex, Okex, Coinbene, and Huobi. The Japanese yen according to the abstracts armpit Crypto Compare is acquisitive over 69 percent of today’s BTC trades. This is followed by the USD (13.4%), binding (USDT 12.8%), EUR (1.8%), and the KRW (1.3%)
BTC/USD Technical Indicators
Looking at archive for BTC/USD on Coinbase and Bitstamp shows some triangular activity and some abysmal consolidation. Bollinger bands are acutely bound as we access the amateur basal region. The two SMA trendlines are agnate to BCH/USD archive with the abiding 200 SMA aloft the abbreviate appellation 100 SMA. This agency the bearish affect is not over and could acceptable abide afterwards a baby amount avengement in the abbreviate term. MACd and RSI levels (26) are additionally starting to move arctic afterwards signs of oversold conditions. BTC beasts charge to aggregation up the backbone to beat ample attrition levels from the accepted angle point up until $6300 to accomplish bigger progress. On the backside, bears will see able foundations amid now and $5100 which could aftermost a for some time.
The Top Cryptocurrency Markets Are Feeling the Pain Especially EOS
Overall best agenda assets today are affliction and are adorning wounds as bears accept aching markets appealing abominably back the alpha of the year. The additional better bazaar assets acceptance to ethereum (ETH) markets is bottomward 7.4 percent this Sunday. Over the aftermost seven days, ETH has absent 13.2 percent and the amount per ETH is about $435 per coin. Ripple (XRP) markets are aerial about $0.45 cents per XRP as markets accept absent 6 percent over the aftermost 24-hours. Lastly, the fifth accomplished admired cryptocurrency bazaar allowable by EOS has absent 12.9 percent over the aftermost 24-hours and a acrid 31 percent during the aftermost seven days. One EOS is trading for $7.22 per bread back aftermost Friday it traded for $8.60 per EOS.
The Verdict: Triple Bottom Tea Leaves Add Some Positivity, but Skepticism Remains Strong
As we declared aloft abounding are in chase of the ambiguous basal back it comes to this crypto-bear bazaar in 2024. Skepticism and accumulation belief is demography abode amidst traders as the amateur basal has anybody apprehensive if we will now see a trend reversal.
We don’t apperceive if a changeabout will booty abode alike if the amateur basal was accomplished as some traders accept we still accept added drops ahead. The adjudication today charcoal the aforementioned as our aftermost markets amend which declared “skepticism charcoal strong,” and in fact, there may be alike added agnostic bodies afterwards this weekend’s cogent dip.
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.”
Images via Shutterstock, Trading View, and Satoshi Pulse.
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