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.
|coin||24 hours||7 days||stories|
|cryptocurrency||24-hour % change (+/-)||stories|
|obsessive compulsive disorder (OCD)||+17.9%||$16.6|
|Luna classic (HAVING LUNCH)||+17.04%||$0.00052|
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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.
#Bitcoin runs so far so good but needs to continue above $19.5k.
Then it’s party time.
Today it can be important if Lagarde and Powell speak. pic.twitter.com/zZbIjhnoeu
— Michaël van de Poppe (@CryptoMichNL) September 8, 2022
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.”
I would be really careful with that jump.
— Justin Bennett (@JustinBennettFX) September 8, 2022
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.
#Ether The speculative action continues, with over $6.12 billion in call options open interest outstanding.
Put options account for much less $1.5 billion, giving a put/call ratio of 0.25.
— Glass Node (@glassnode) September 8, 2022
Continue reading: Bitcoin Is Markets’ Early Warning Alert, Says Bloomberg Analyst