[뉴욕 코인시황/출발] Altcoins such as ADA are strong amid Bitcoin consolidation... Circular selling pattern

[뉴욕 = 장도선 특파원] The cryptocurrency market is showing a circular selling pattern, with major altcoins such as Cardano and Solana rallying amid Bitcoin’s consolidation ahead of the opening of the New York Stock Exchange on the 8th.

Bitcoin has retreated slightly from the all-time high recorded the previous day, but is generally stable, and Cardano, Solana, and Chainlink are leading the market mood with significant gains. Ethereum also settled above $2,900. The decentralized finance (DeFi) sector has drawn attention again due to expectations of the Trump administration‘s easing of cryptocurrency regulations, sparking a rally in related altcoins.

The overall situation is analyzed to be favorable for cryptocurrency, including expectations about the positive impact that Trump’s presidential victory will have on the future cryptocurrency market and blockchain sector, additional interest rate cuts by the Federal Reserve, and strengthening risk appetite due to the strength of the New York stock market. It happens.

The largest inflow of funds since its launch into the Bitcoin spot ETF listed on the U.S. stock market the previous day reflects expectations for a future bull market and is expected to serve as a driving force for the market’s further rise. However, the possibility of a short-term adjustment following the recent surge cannot be ruled out.

Analysts predicted that Bitcoin could possibly reach $100,000 in the short term and pointed out $90,000 as the main resistance level.

At 8:15 a.m. on the 8th, New York time, the cryptocurrency market capitalization on CoinMarketCap was $2.51 trillion, down 0.44% from 24 hours ago. The 24-hour trading volume of the cryptocurrency market decreased by 12.80% to $128.9 billion. Bitcoin dominance was 60.0% and Ethereum dominance was 14.1%, each rising from the previous day. The fear and greed index of the cryptocurrency market is 72, indicating a state of greed.

CoinMarketCap (8:15 a.m. on the 8th, New York time)

At this time, Bitcoin rose 1.27% from 24 hours ago to $75,936 on CoinMarketCap. The previous day’s high in New York time was $76,943.12, a new all-time high. Ethereum advanced 4.06% to $2933. Ethereum’s all-time high is $4891.70 on November 16, 2021.

Other altcoins ranked in the top 10 in market cap also rose compared to 24 hours ago. Solana rose 8.00%, BNB 0.58%, XRP 0.46%, Dogecoin 3.66%, Cardano 16.43%, and Tron 0.81%. Solana peaked at $204.81 and has pulled back slightly, but is still at its highest level this year.

Bitcoin futures listed on the Chicago Mercantile Exchange (CME) for November were down 0.51% at $76,790, for December were down 0.53% at $77,335, and for January were down 0.75% at $77,800. Ethereum November contract rose 1.02% to $2965.50, and December contract rose 1.13% to $2991.50. However, the January contract fell 0.32% to $2973.50.

Based on Wall Street Journal data, the dollar index advanced 0.08% to 104.59. The 10-year U.S. Treasury yield fell 3.4bp to 4.308%.

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