Major coins were higher Monday night, as the global cryptocurrency market cap rose 0.3% at press time to $988.35 billion
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | 0.5% | -1% | $20,015.73 |
| ether ETH/USD | 4.4% | 6.6% | $1,643 |
| Dogecoins DOGE/USD | 2% | 1.2% | $0.06 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| TerraClassicUSD (USTC) | +25.8% | $0.04 |
| Ethereum classic (ETC) | +26.45% | $40.92 |
| Raven Coin (RVN) | +12.8% | $0.04 |
See also: Best USDC Interest Rates
Why it matters: Ethereum was leading gains among major coins at press time, while Bitcoin was showing modest gains, topping $20,000. Stock futures were in the green at press time, heading into a new trading week after Labor Day weekend.
cryptocurrency trader Michael van de Poppe tweeted “A lot of power on” Ethereum on Monday in response to the rise of the second largest coin by market cap.
Lots of power up #Ether.
— Michaël van de Poppe (@CryptoMichNL) September 5, 2022
Investors can look forward to speeches from this week federal reserve Presidents and will keep an eye on the European Central Bank’s rate-hike decisions.
Bitcoin’s potential drop from $20,000 has been called “really damaging.” Craig ErlamSenior Market Analyst at OANDA.
“The next key level below is the June lows around $17,500. It’s not looking good given the short-term outlook for risk appetite,” the analyst said in a note shared with Benzinga.
Alternative.me’s Crypto Fear & Greed Index showed Extreme Greed at press time. Last week the index recorded “fear”.
Glassnode said in a blog post that liquidity across all asset markets continues to decrease as the dollar strengthens. The on-chain analytics firm said that periods of Bitcoin’s “price increase” “have faced aggressive distribution by the largest investor…
