Cryptocurrency market summary (BTC, ETH). 06.07.2022 Overview :: InvestMacro

BTC continues to consolidate at $20,225. It’s a miracle! The main cryptocurrency is fixed above $20,000. Frankly, there were serious doubts about it.

Technically, the target for this local recovery could be $21,500-$21,700; However, some bullish motives were not enough to make many investors open long positions. Whatever the case, the bears still dominate the strip. This means that they could return to the market at any moment and resume pushing the price to $17,500.

To break the current domestic downtrend and return to growth, BTC must recover as much as $23,000-$23,500.

Bitcoin Fear & Greed is currently at 19 points – it’s an extreme fear. The data is based on the CNNMoney Similar Fear and Greed Index and takes into account 6 parameters. Extreme fear could be a sign that the market is really worried.

Ethereum: Still Consolidating

The main altcoin, ETH, is still rallying between $994 and $1,280. The current technical signals do not imply a breach of any of the above mentioned limits.

Cryptocurrency Market: Highlights of July

This month, STEPN is required to delete Chinese user accounts in accordance with local legislation. From July 19 to 21, Ethereum will be held annually; ETHCC Conference in Paris. Cardano is setting up the Vasil hard fork, which is already running in the test network.

Miners earn BTC

The income of BTC miners has surpassed the ETH level for the first time this year. In June, they earned $656.5 million, while ETH miners earned just $548.5 million. At the same time, the global profit from major cryptocurrency mining continues to decline – the price of digital assets is dropping.

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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