Bitcoin and ether rose on Wednesday night, as the global cryptocurrency market cap rose 2.95% to $974.2 billion as of 8:11 p.m. EDT.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | 2.45% | -3.8% | $19,296.02 |
| ether ETH/USD | 4.5% | 4.9% | $1,630.51 |
| Dogecoins DOGE/USD | 3.7% | -0.6% | $0.06 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| helium (HNT) | +57.02% | $5.33 |
| EOS (EOS) | +19.3% | $1.66 |
| Curve DAO token (CRV) | +12.4% | $1.17 |
See also: How to get free crypto
Why it matters: Cryptocurrencies were buoyant after risk assets staged a rally on Wednesday. The S&P 500 and Nasdaq were up 1.8% and 2.1%, respectively, for the day.
However, stock futures were flat at the time of writing as investors await the latest jobless claims data, which is due Thursday.
The dollar index, a gauge of the greenback’s strength against a basket of six currencies, traded 0.08% lower to 109.75.
cryptocurrency trader Justin Bennett said the Dollar Index is “collapsing” from a rising wedge on its chart.
That $DXY collapses from this rising wedge.
109.30 is the next big test. But as long as we have dollar weakness, expect relief for #Stocks and #crypto. https://t.co/16tFi6KRQg pic.twitter.com/lMKGDd7Ig3
— Justin Bennett (@JustinBennettFX) September 7, 2022
“109.30 is the next big test. But as long as we have dollar weakness, expect relief for [stocks] and [crypto]’ Bennett said on Twitter.
Michael van de Poppe said that a “beautiful retest” of the entire 200-week moving average market cap was underway.
If you would ask me, it does a nice retest of the total market cap on the 200 week ma.
That implies a significant buying opportunity for you on the #crypto markets as $DXY is also approaching a peak.
So far it’s going as planned. pic.twitter.com/OGyZcEobIl
— Michael van de…
