BTC, ETH price news: Bitcoin slips to $83,000 as ZEC drops 12% and oil climbs…
Global stocks fell to a one-week low as Brent rose for a second day and traders added to bets on more Federal Reserve rate hikes ahead of Wednesday's PCE inflation data.
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Bitcoin slipped to just above $83,100 as rising
Bitcoin slipped to just above $83,100 as rising Treasury yields and oil prices fueled inflation concerns and expectations of another Federal Reserve rate increase.
Zcash fell 12 percent, leading losses among major
Zcash fell 12 percent, leading losses among major tokens, while The Graph gained 18 percent and the total cryptocurrency market value held near $2.86 trillion.
Analysts said a sustained drop below $80,000 could
Analysts said a sustained drop below $80,000 could signal prolonged weakness for Bitcoin, while renewed momentum could push it above $90,000.
Bitcoin slipped under 1% to just above $83,100
Bitcoin slipped under 1% to just above $83,100 as of Tuesday Asian morning hours, testing the floor of last week's range, after the 10-year Treasury yield touched its highest level since 2007.
ZEC fell 12% to about $1,380, the steepest
ZEC fell 12% to about $1,380, the steepest drop among major tokens, CoinDesk data show. SOL and HYPE each lost between 3% and 4%, DOGE fell 3% and BNB 2%, while XRP dropped nearly 2%. Ether and TRX were flat.
Among smaller tokens, The Graph's GRT jumped 18%
Among smaller tokens, The Graph's GRT jumped 18% and Immutable's IMX nearly 10%, according to FxPro, while UNI and BCH each fell about 10% and DASH lost 7%. Total crypto market value sat near $2.86 trillion.
A widely watched crypto sentiment index stood at
A widely watched crypto sentiment index stood at 74 out of 100 on Monday, just short of the "extreme greed" zone, a metric that brokerage FxPro contrasted with the fear that has gripped the stock market for the past 20 days.
"Bitcoin has pulled back to $83K, testing the
"Bitcoin has pulled back to $83K, testing the lower boundary of last week's consolidation range,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email to CoinDesk. “As with the market as a whole, a retest of the $82K region, where peaks were formed in May and early September, is entirely to be expected under current conditions.”
"Looking ahead, a sustained return to prices below
"Looking ahead, a sustained return to prices below $80K would be an important signal that the market is not ready to move higher for some time yet. If, however, this consolidation is soon followed by a new bullish momentum, it could send the leading cryptocurrency well above $90K," he added. The pressure is coming from bonds and oil.
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BTC, ETH price news: Bitcoin slips to $83,000 as ZEC drops 12% and oil climbs again
Global stocks fell to a one-week low as Brent rose for a second day and traders added to bets on more Federal Reserve rate hikes ahead of Wednesday's PCE inflation data.
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Source: CoinDesk