{"id":10842,"date":"2022-09-14T19:14:31","date_gmt":"2022-09-15T00:14:31","guid":{"rendered":"http:\/\/blog.jlbn.net\/?p=10842"},"modified":"2022-09-15T18:31:48","modified_gmt":"2022-09-15T23:31:48","slug":"bitcoin-ethereum-dogecoin-muted-are-traders-in-for-pain-ahead-as-analyst-says-bulls-have-had-their-fun","status":"publish","type":"post","link":"http:\/\/blog.jlbn.net\/?p=10842","title":{"rendered":"Bitcoin, Ethereum, Dogecoin Muted: Are Traders In For Pain Ahead As Analyst Says ‘Bulls Have Had Their Fun?’"},"content":{"rendered":"\n

Bitcoin<\/strong> was in the green on Sunday evening, even as the global cryptocurrency market cap fell 0.3% to $1.1 trillion at 8:20 p.m. EDT.<\/p>\n\n\n\n

Coin<\/th>24-hour<\/th>7-day<\/th>Price<\/th><\/tr><\/thead>
Bitcoin<\/strong> (CRYPTO: BTC<\/a>)<\/td>0.75%<\/td>9.1%<\/td>$21,800.95<\/td><\/tr>
Ethereum<\/strong> (CRYPTO: ETH<\/a>)<\/td>-0.7%<\/td>11.4%<\/td>$1,761.84<\/td><\/tr>
Dogecoin<\/strong> (CRYPTO: DOGE<\/a>)<\/td>-1.8%<\/td>0.7%<\/td>$0.06<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Cryptocurrency<\/th>24-Hour % Change (+\/-)<\/th>Price<\/th><\/tr><\/thead>
Celsius<\/strong> (CEL)<\/td>+14.8%<\/td>$1.60<\/td><\/tr>
ApeCoin<\/strong> (APE)<\/td>+10.65%<\/td>$5.61<\/td><\/tr>
PancakeSwap<\/strong> (CAKE)<\/td>+4.2%<\/td>\u200b\u200b$4.53<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

See Also: <\/em>How To Get Free NFTs<\/em><\/a><\/p>\n\n\n\n

Why It Matters:<\/strong> Bitcoin and Ethereum traded mixed, even as stock futures rose marginally. The S&P 500 and Nasdaq futures were up 0.1% and 0.2%, respectively, at the time of writing.<\/p>\n\n\n\n

Over the weekend, Bitcoin soared over the $20,000 psychological mark and touched a high of $21,760.28, while Ethereum touched a peak of $1,784.50.<\/p>\n\n\n\n

\u201cBitcoin is welcoming the return of risk appetite and a falling U.S. dollar. The broad market rally has rejuvenated cryptos and that could continue if investors continue to look beyond hawkish central bank overtures and lingering recession risks,\u201d said Edward Moya<\/strong>, a senior market analyst with OANDA.<\/p>\n\n\n\n

Micha\u00ebl van de Poppe<\/strong> said that markets are not looking for \u201cdownwards continuation\u201d and there\u2019s even \u201cstrength to the upside\u201d as altcoins are starting to shape better.<\/p>\n\n\n\n

The markets are not looking for downwards continuation, there’s potentially even strength to the upside as #altcoins<\/a> are starting to shape better.

Could be a fun Q4 of this year.\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) September 11, 2022<\/a><\/p><\/blockquote>\n\n\n\n

The cryptocurrency trader said on Twitter, \u201cCould be a fun Q4 of this year.\u201d<\/p>\n\n\n\n

Justin Bennett <\/strong>struck a more cautious note and tweeted, \u201cBulls have had their fun, but the entire [crypto] market is sitting 5% below a massive resistance area.\u201d<\/p>\n\n\n\n

\u201cProbably one more push higher before the next leg down.\u201d The trader reminded his followers that U.S. inflation data is due Tuesday and Wednesday and to \u201cexpect volatility.\u201d<\/p>\n\n\n\n

Hope everyone had a great weekend!

Bulls have had their fun, but the entire #crypto<\/a> market is sitting 5% below a massive resistance area.

Probably one more push higher before the next leg down.

US inflation data on Tuesday and Wednesday, so expect volatility. $BTC<\/a> $ETH<\/a> pic.twitter.com\/K8niV3xcE8<\/a>\u2014 Justin Bennett (@JustinBennettFX) September 11, 2022<\/a><\/p><\/blockquote>\n\n\n\n

Also expected this week is \u201cThe Merge\u201d \u2014 Ethereum\u2019s move from a proof-of-work mechanism to a proof-of-stake model, which is slated<\/a> for Thursday.<\/p>\n\n\n\n

CoinMarketCap<\/strong> said in a recent note authored with Glassnode<\/strong> that more than 11.2% of ETH\u2019s circulating supply is now participating in the PoS consensus. <\/p>\n\n\n\n

\u201cGiven on-chain demand, and thus gas prices are very soft at present, this highlights that with any meaningful pickup in gas fee pressure, ETH can be reasonably expected to become a net deflationary supply asset.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin was in the green on Sunday evening, even as the global cryptocurrency market cap fell 0.3% to $1.1 trillion at<\/p>\n","protected":false},"author":1,"featured_media":10848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3423,254,3421],"tags":[3472,3440,3426,3441,3482,888],"_links":{"self":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/10842"}],"collection":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10842"}],"version-history":[{"count":2,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/10842\/revisions"}],"predecessor-version":[{"id":10850,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/posts\/10842\/revisions\/10850"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=\/wp\/v2\/media\/10848"}],"wp:attachment":[{"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10842"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.jlbn.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}