Bitcoin ($BTC), Dogecoin ($DOGE), Ethereum ($ETH) – Ethereum Firm, Bitcoin, Dogecoin Tread Red: Analyst Says ‘Vulnerable’ Apex Crypto Could Hit June Lows If This Happens

Major coins traded mixed Tuesday evening as the global cryptocurrency market cap declined 0.8% to $973.7 billion at press time.
Price Performance Of Major Coins


Coin
24-hour
7-day
Price




Bitcoin BTC/USD
-1.3%
-7%
$19,963.73


Ethereum ETH/USD
0.3%
-6.2%
$1,548.52


Dogecoin DOGE/USD
-3.3%
-10.3%
$0.06



Top 24-Hour Gainers (Data via CoinMarketCap)


Cryptocurrency
24-Hour % Change (+/-)
Price




Flow (FLOW)
+5%
$2


NEAR Protocol (NEAR)
+6.5%
$4.28


Nexo (NEXO)
+3.5%
​​$1.02


See Also: How To Get Free NFTsWhy It Matters: Bitcoin slipped below the psychologically important $20,000 level on Tuesday as it tracked a weak finish in equities. The S&P 500 and Nasdaq both closed 1.1% lower, while their futures were flat at press time.New York Federal Reserve President John Williams took a hawkish stance on Tuesday. He told the Wall Street Journal that “we’re going to need to have a restrictive policy for some time.”“I do think with demand far exceeding supply, we do need to get real interest rates … above zero,” he said. “We need to have a somewhat restrictive policy to slow demand, and we’re not there yet.” Edward Moya, a senior market analyst at OANDA, said that risk aversion is “firmly back” and has sent the apex coin below the $20,000 mark. “If the broad selloff on Wall Street intensifies, Bitcoin is looking very vulnerable here. If the S&P declines by 3% over the next few days, that could be the catalyst to send Bitcoin back towards the June lows,” said Moya in a note, seen by Benzinga.The dollar index, a measure of the greenback’s strength against six of its peers, saw a pullback on Tuesday. At press time, it was down 0.1% at 108.65.Justin Bennett said that the dollar index was holding below the 109.30 resistance but consolidation below this is “usually a sign of bullish things to come.”
The $DXY is still holding below 109.30 resistance for now.But consolidation below resistance is usually a sign of bullish things to come.I think we see 112-113 in Sept.$BTC $ETH #crypto pic.twitter.com/wDp97uROAJ
— Justin Bennett (@JustinBennettFX) August 30, 2022The trader tweeted, “I think we see 112-113 in Sept.” Notably, Bitcoin has lately moved in the opposite direction to the dollar index.Chartist Ali Martinez said almost 82,600 BTC, worth $1.7 billion, have been withdrawn from known cryptocurrency exchange wallets over the last month.
#Bitcoin | Roughly 82,600 #BTC have been withdrawn from known #crypto exchange wallets over the past month, worth roughly $1.70 billion! $BTC pic.twitter.com/1YEEgRpDGI
— Ali Martinez (@ali_charts) August 30, 2022Michaël van de Poppe tweeted that Ethereum is on the path toward $2,200 as it approaches the transition to a proof-of-stake mechanism. “I’m still expecting continuation of this upwards structure, whether or not [Bitcoin] sweeps $19K for liquidity,” said the cryptocurrency trader.
Decent retests across markets happening and $ETH, for instance, is still on the path towards $2,200 as one of the biggest events is approaching -> the Merge.I’m still expecting continuation of this upwards structure, whether or not #Bitcoin sweeps $19K for liquidity.
— Michaël van de Poppe (@CryptoMichNL) August 30, 2022Amid a volatile trading week the “disbelief” is strong among Ethereum traders, said Santiment on Twitter. 
The #Ethereum disbelief is strong from traders during a particularly volatile week of trading. The crowd has #shorted, across exchanges, at the largest ratio since June of 2021. Historically, price rises are more prevalent in these conditions. https://t.co/DpG1E1TI9Y pic.twitter.com/e6xAWOXeFM
— Santiment (@santimentfeed) August 30, 2022“The crowd has [shorted], across exchanges, at the largest ratio since June of 2021. Historically, price rises are more prevalent in these conditions,” said the market intelligence platform. Read Next: Vitalik Buterin Issues This Important Reminder Before Ethereum Merge

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