Major coins showed weakness Sunday night as the global cryptocurrency market cap shrank 1.4% to $922.5 billion as of 8:05 p.m. EDT.
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | -1.4% | 1.2% | $19,039.14 |
| ether ETH/USD | -2.6% | -1.35% | $1,276.90 |
| Dogecoins DOGE/USD | -2.25% | -2.9% | $0.06 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| Manufacturer (MKR) | +3.5% | $756.62 |
| rights reserved (RSR) | +2.5% | $0.01 |
| pancake swap (CAKE) | +1% | $4.57 |
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What happened: Bitcoin and ether was trading in the red along with US stock futures, which were also slightly in negative territory at the time of writing.
September was the worst month for the S&P 500 and Dow Jones Industrial Average since March 2020. The month as a whole was bad for stocks as all major indexes turned negative. On the other hand, cryptocurrencies showed more resilience.
OANDA senior market analyst Craig Erlam said last week had been choppy for bitcoin, which failed to make big strides either way.
“We may see a bottom forming a little shy of the early summer lows around $17,500, although that will depend very much on risk appetite not falling again, which it has the potential to do,” Erlam said.
“I keep using the word resilience when talking about bitcoin, and it has stayed that way.”
Alternative.me The Crypto Fear & Greed Index remains at Extreme Fear as the new trading week begins. A score of 0 on the index represents “extreme fear,” while 100 means “extreme greed.” Last week the index was at 21 while at the time of writing it was at 24.
Michael van de Poppe said on Twitter that the coming week will be “very volatile” as markets closed “terribly” last week.
The cryptocurrency trader said he would look at the correlation…
