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Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD) – Bitcoin, Ethereum, Dogecoin Flat While Central Banks Remain Hawkish: Why This Trader Says Be Careful Of The ETH Bounce

Bitcoin (BTC/USD), Ethereum (ETH/USD), Dogecoin (DOGE/USD) – Bitcoin, Ethereum, Dogecoin Flat While Central Banks Remain Hawkish: Why This Trader Says Be Careful Of The ETH Bounce
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ether‘s profits were higher than Bitcoin‘s, though the two coins were largely flat Thursday night, with the global cryptocurrency market cap up 0.7% to $983.3 billion as of 8:20 p.m. EDT.







Price development of major coins
coin 24 hours 7 days stories
Bitcoin BTC/USD 0.03% -3.7% $19,355.19
ether ETH/USD 0.3% -3.6% $1,638.85
Dogecoins DOGE/USD 0.01% -1.9% $0.06







Top 24-hour Gainers (data from CoinMarketCap)
cryptocurrency 24-hour % change (+/-) stories
polymath (POLY) +105.4% $0.37
obsessive compulsive disorder (OCD) +17.9% $16.6
Luna classic (HAVING LUNCH) +17.04% $0.00052

See also: Best Crypto Debit Cards

Why it matters: Major coins were broadly muted in line with other risk assets. Stock futures are trading flat at the time of writing.

On Thursday the European Central Bank increased interest rates as expected by 75 basis points and revised inflation forecasts to 8.1% on average in 2022.

Same day, USA federal reserve chair Jerome Powell warned against a premature easing of monetary policy Cato Institutea libertarian think tank reported CNBC.

“I can assure you that my colleagues and I are strongly committed to this project and we will keep going until the job is done,” he said.

The next Fed policy meeting is scheduled for September. 20-21

“Bitcoin is giving back some of yesterday’s gains as risky assets declined after a double dose of hawkishness from Fed Chair Powell and ECB President Lagarde,” OANDA Senior Market Analyst said Edward Moyain a note Benzinga saw.

“Bitcoin is attempting to stabilize above $19,000, but that will be difficult amid consistent messages about adopting interest rates above the final rate requested by major central banks.”

Michael van de Poppe tweeted Bitcoin “goes so far so good” but needs to continue above $19,500.

Justin Bennett said earlier Thursday that he would remain cautious on Ethereum as “volume is declining and there is nothing structurally bullish about markets like Ethereum.”

glass node said on Twitter that Ethereum’s speculative action continues with over $6.12 billion in call options open interest outstanding.

The put options are worth $1.5 billion, resulting in a put/call ratio of 0.25, according to the on-chain analytics firm.

Continue reading: Bitcoin Is Markets’ Early Warning Alert, Says Bloomberg Analyst

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