Markets
Bitcoin, Ethereum and Dogecoin Remain Stable as Market Uncertainty Persists: Analyst Predicts “Strong Momentum” to $75,000 for King Crypto
June 2, 2024 9.55pm | 2 minute read
Major cryptocurrencies remained balanced on Sunday as investors awaited strong stimulus to move the market in either direction.
| Cryptocurrency | Earnings +/- | Price (recorded at 8:30 pm EDT) |
| Bitcoin (CRYPTO: Bitcoin) | -0.14% | $67,652.21 |
| Ethereum (CRYPTO: ET) | -1.37% | $3,767.77 |
| Dogemoneta (CRYPTO: DOGE) | -2.42% | $0.1567 |
What happened: Bitcoin it faced resistance around its previous all-time high while hovering in the $67,000 – $68,000 zone.
The uncertainty also dragged on Ethereumwith the second-largest cryptocurrency facing stiff resistance around $3,800.
The market saw liquidations worth $141.57 million in the last 24 hours, with longs worth $91 million canceled.
The absence of volatility was also evident in the derivatives market. Open interest on Bitoin futures rose just 0.14% over the past 24 hours, indicating that investors were waiting and watching.
The cryptocurrency’s Fear & Greed Index continued to flash “Greed” as of this writing, implying a potential increase in buying pressure.
Best profit (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 8:35 pm EDT) |
| Not money (NOT) | +54.70% | $0.02393 |
| Aevo (AEVO) | +14.14% | $1.03 |
| Toncoin (TONNE) | +9.15% | $6.86 |
The global cryptocurrency market capitalization stands at $2.52 trillion, after an increase of 0.46% in the last 24 hours.
Stock futures rose Sunday. THE Dow Jones industrial average futures rose 107 points, or 0.28%, as of 8:30 p.m. EDT. Futures related to S&P500 gained 0.29%, while Nasdaq 100 Futures increased by 0.25%.
Wall Street entered June after an impressive performance last month, with all three major indexes hitting record highs.
This week, investors will focus on major economic updates, including manufacturing data due on Monday and a key jobs report on Friday, to gauge the Federal Reserve’s sentiment on interest rates.
See more: Best Cryptocurrency Scanners
Analyst Notes: Famous cryptocurrency analyst TARE noted a “critical” moment for Bitcoin on the price chart, prompting her to predict an all-time high.
“The entire ABCDE on price and RSI has been completed. It just broke above the resistance (RSI) and completed the breakout test ($67.8k). I think we are about to see a BIG push up to $75.8k. ..a new ATH!”
Leading analyst Michael van de Poppe interpreted the lateral movement of altcoins positively and hoped for an upward breakout and new highs in the coming weeks.
Photo by Igor Faun on Shutterstock
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