On the 18th (local time), the cryptocurrency market ended with an overall mixed trend as more stocks switched to declines during the mid-day. Five of the top 10 stocks rose, and 52 of the top 100 saw their prices rise.
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According to CoinMarketCap, the bitcoin price was $16,627.45 at 4:00 pm New York time, down 0.22% from 24 hours ago.
Ethereum rose by 0.67%, BNB by 2.10%, Polygon by 0.36%, XRP by 0.44%, Dogecoin by 0.54%, and Cardano by 0.09%.
At this time, the market capitalization of the cryptocurrency market was $828.8 billion, and Bitcoin accounted for 38.5%.
# Decrease in the increase in the futures market
Bitcoin futures on the Chicago Mercantile Exchange (CME) recorded $16,545 for November, up 25 dollars, and $16,295 for December, up 5 dollars.
The price of Ethereum futures traded at $1203.00, up $16.00 for the November contract, and $1177.50 for the November contract, up $8.50.
# Bitcoin further decline? A rebound opportunity?
Cryptocurrency analyst Jim Wyckoff said Bitcoin’s recent price trend appears to have gained new strength to help prevent further losses.
While Bitcoin looks to bounce back from the $16,200 support line, the downside momentum seems to have worn off, but it is still trading below the key $18,000 support level in recent weeks, ” he explained.
BeInCrypto reported that large investors in Dogecoin (DOGE) continue to accumulate assets while the cryptocurrency market has not escaped bearish conditions such as the FTX crisis.
According to data from cryptocurrency analysis company Santiment, the balance of addresses holding between 1 million and 10 million Dogecoin coins increased from 9.26 billion on October 2 to 9.99 billion as of today.
Anonymous cryptocurrency trader Altcoin Sherpa said Chiliz is currently one of the strongest stocks in the altcoin market, predicting it could rise to $0.30 amid World Cup fever.
According to CoinDesk, Bank of America downgraded its investment rating from ‘Buy’ to Neutral, saying that Coinbase faces new headwinds following the fall of FTX. He also lowered his price target from $77 to $50.
Coinbase shares closed at $45.26, down 7.24%.
In New York, the Dow fell 0.6%, the Nasdaq 0.01% and the S&P 500 0.48%.
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