Cryptocurrency market summary (BTC, DOGE, TON). 29.06.2022 Overview :: InvestMacro


Once again, BTC is very sensitive to the mood swings of the US stock market. There is a correlation between the S&P 500/NASDAQ and BTC, which can be easily seen now. This week, US stock exchanges are selling, so the chances of a major recovery for the cryptocurrency are few.

BTC is dropping towards $20,080 on Wednesday, and this was the fourth consecutive negative trading session.

There is no longer an upside target at $24,000-25,000: Despite the positive conditions, the bulls missed an opportunity to rebound. Given the negative outlook for the S&P 500 Index – some foreign experts believe it could drop to 3,200 points – the outlook for major cryptocurrencies is rather bleak.

The closest major support for Bitcoin at the moment is $19,000 – a drop towards that level is already very negative. Below it is the next support, the June low at $17,622.

Bitcoin Fear & Greed is 13 pips today after it was 10 pips yesterday – it’s an extreme fear.

The share of BTC in the crypto market is now 42.5%, and ETH owns 15.3%.

TOP 10: DOGE CAN’T STAND ON THE EARTH

In the last 24 hours, all major cryptocurrencies fell out of the top 10 in one way or another. The worst are SOL (-6.20%) and BNB (-4.53%). DOGE, which was the strongest of them recently, lost 5.63%. In the midst of the global recession, BTC, ETH, and ADA are doing better and have lost about 2.5% on average.

TON turned into Proof of Stake

Yesterday morning, miners mined another TON for proof of work. Then the blockchain turned to Proof of Stake to maintain the principle of decentralization of the ecosystem. Token mining is officially over.

attention!
Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.



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