Blockchain intelligence company Santiment tweeted last night that shortly after the US stock market closed, the cryptocurrency market showed a birth date. The tweet added that the cryptocurrency market leader Bitcoin (BTC) has also moved towards $28500, while the counterfeit currency leader Ethereum (ETH) has climbed to $1900
Blockchain intelligence company Santiment tweeted last night that shortly after the US stock market closed, the cryptocurrency market showed a birth date. The tweet added that the cryptocurrency market leader Bitcoin (BTC) has also moved towards $28500, while the counterfeit currency leader Ethereum (ETH) has climbed to $1900.
The crypto market has always been closely related to the S&P 500 index - echoing its trend. However, Santiment's recent tweet suggests that the crypto market may be in the early stages of breaking its correlation with the S&P 500 index.
As of the time of publication, CoinMarketCap shows that the global cryptocurrency market has risen by 2.75% in the past 24 hours - totaling approximately $1.18 trillion. In addition, the prices of BTC and ETH have also increased in the past 24 hours.
Currently, BTC has traded at $28382.50 after rising 3.41% in the past day. Meanwhile, the price of ETH has risen by more than 2% in the past 24 hours, reaching $1868.73. The price of BTC has almost reached $28.5k and reached a 24-hour high of $28463.48, but has slightly fallen back to its current level. During this period, ETH can only reach a high of $1880.17.
In relevant news, the price of BTC has fallen below the EMA line of 9 and 20 days in the past 7 days. However, the recovery of cryptocurrencies over the past day has led to BTC prices once again exceeding the 9-day moving average.
The daily RSI indicator indicates that the price of BTC will also successfully exceed the 20 day moving average in the next 24 to 48 hours, as the daily RSI line currently tends to be overbought in the region. The price of BTC needs to remain above the 9-day moving average for the next 48 hours to validate this bullish argument.
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