The major coins traded lower than the global on Tuesday night cryptocurrency The market cap is down 1.1% to $928 billion as of 9:14 p.m. EDT.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | -1.65% | 1% | $19,272.04 |
| ether ETH/USD | -2.5% | 1.5% | $1,304.16 |
| Dogecoins DOGE/USD | -0.8% | -1.3% | $0.06 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| aave (AAVE) | +3.7% | $82.05 |
| Uniswap (UNIVERSITY) | +2.2% | $6.54 |
| Monero (XMR) | +1.8% | $146.10 |
See also: The best ways to earn free cryptocurrency
Why it matters: Major cryptocurrencies broke away from shares Tuesday night to trade lower. At the time of writing, U.S. stock futures were trading higher, with Nasdaq futures up 1.3% and S&P 500 futures up 0.8%.
Shares rose on strong earnings and mixed economic data that pointed to a slowdown in the economy, OANDA senior market analyst noted Edward Moya.
“This is an impressive bear market rally that is likely to peter out as the Fed is far from ready to slow its pace of tightening.”
Speaking of Bitcoin, Moya said, “Bitcoin almost made a run towards $20,000, but most investors remained skeptical that this week’s risk rally would be short-lived.”
“Crypto is caught in consolidation mode and this will continue until investors are convinced of the risks of Fed tightening and plunge the economy into a severe recession,” said Moya in a note seen by Benzinga.
Michael van de Poppe Noting the choppy markets on Tuesday, he said on Twitter: “The Chopperino is back. Everything that was gained yesterday is lost today.”
And the chopperino is back. Everything that was gained yesterday is lost today.
— Michaël van de Poppe (@CryptoMichNL) October 18, 2022
The cryptocurrency trader said in a separate tweet that the economy was “getting weaker.” He pointed to the slowdown in the production of companies and…
