Mooners and Shakers: Bitcoin struggles to hold $20k… again; EVMOS up but ADA looks ‘ugly’
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Bitcoin seems set on losing US$20k support again as the wider crypto market steps unconvincingly into the new week. At least some cryptos are showing a semblance of form. Not ADA, though, apparently.
But yep, you guessed it, market-affecting macro headwinds are still gale force. The US dollar has a puffed-out chest (+1.13% @ 108.21), while tech stonks are still in desperate need of the sort of pill Pele peddles (Nasdaq: -2.26%; S&P 500: -1.15%).
So, things, such as crypto moonboi exuberance, are being kept well in check. On the off chance inflation data comes in lower than expected, though, then that oughta give up-and-to-the-right chartists some decent Twitter engagement.
It’d be nice. Seems unlikely, though. According to the Financial Times, Reuters-polled economists are predicting a slight increase (8.7%) from the previous month’s 40-year high level of 8.6%.
And the New York crypto research firm Delphi Digital’s latest analysis reportedly predicts “more pain ahead for risk assets”, too, with potential BTC support down at US$15k or even US$9k-$12k. They’re far from alone — seems like every man, woman and DOGE on Crypto Twitter is calling for a $10k BTC bottom at the moment.
Top 10 overview
With the overall crypto market cap at US$930 billion and down 4.7% since this time yesterday, here’s the current state of play among top 10 tokens — according to CoinGecko.
After some encouraging price action at the end of last week, Bitcoin (BTC), Ethereum (ETH) and the other crypto majors haven’t been able to sustain the pump, which likely comes as no major shock to many a crypto/financial analyst.
Solana (SOL) is the biggest daily loser at the time of writing, but its smart-contract layer 1 rival Cardano (ADA) is the one that seems to have caught famed US economist Peter Brandt‘s attention.
Uppers and downers: 11–100
Sweeping a market-cap range of about US$7.4 billion to about US$364 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)
DAILY PUMPERS
• Evmos (EVMOS), (market cap: US$464 million) +4%
• Ecomi (OMI), (mc: US$443 billion) +4%
• Loopring (LRC), (mc: US$499 million) +3%
• Arweave (AR), (mc: US$599 million) +2%
DAILY SLUMPERS
• THORChain (RUNE), (market cap: US$601 million) -13%
• STEPN (GMT), (mc: US$500 million) -12%
• Uniswap (UNI), (mc: US$2.5 billion) -12%
• IOTA (MIOTA), (mc: US$738 million) -11%
- ApeCoin (APE), (mc: US$1.29 billion) -10%
Read the full article: https://stockhead.com.au/cryptocurrency/mooners-and-shakers-bitcoin-struggles-to-hold-20k-again-evmos-up-but-ada-looks-ugly/
