Daily Crypto Market Update: Recent Episodes
SEBA Bank
SEBA Bank's Daily Crypto Market Update provides a short summary of price action, news flow and market outlook straight from our trading team.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets recovered over the weekend after selling off in reaction to the higher than expected PCE price index in the US on Friday. Global markets now seem to forecast a higher terminal USD interest rate with equities also joining crypto in moving lower while the US Dollar strenghthened.
Bitcoin traded briefly below the $23,000 handle over the weekend before recovering late on Sunday. The cryptocurrency closed the week at $23,550 and was trading flat at the time of publication.
Bitcoin should be supported at the $22,500 level. A move lower could see the cryptocurrency test February lows of $21,350. Bitcoin will look to move above $25,250 on the upside.
Crypto markets moved lower in sync with other global risk assets as markets awaited minutes from the US FOMC yesterday. Bitcoin led a strong recovery in the markets post the release of the minutes. The minutes indicated the need for more rate hikes in the near future.
Bitcoin tested lows of $23,600 yesterday before recovering to close the day above $24,000. Markets were bid early today and the cryptocurrrency made highs of $24,600. Bitcoin was consolidating around the $24,500 level at the time of publication.
Immediate support for the cryptocurrency is at $23,500, which is also near yesterday’s lows. Bitcoin will look to sustain a move above $25,000 on the upside.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market sold off yesterday and the global crypto market cap decreased by 2.78% to $1.10 Trillion. Major cryptocurrencies couldn’t breakout psychological resistance levels and declined lower. Traditional markets witnessed a risk off move yesterday.
Bitcoin tried to breakout $25,000 level multiple times yesterday making highs of $25,288 before declining to lows of $24,153 and later consolidated losses to close the day at $24,454. The cryptocurrency slid below $24,000 during the early Asian hours and was trading higher at $24,120 at the time of writing.
Immediate support for the cryptocurrency is at $23,500 while, on the upside resistance is at $25,500.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies staged a recovery late on Friday which continued into the weekend as crypto markets shrugged off the risk-off sentiment in global markets. Having been correlated with global equities for most of recent times crypto markets have continued to outperform the equity market in the new year.
Bitcoin moved to highs of $25,200 yesterday – failing to break swing highs of $25,250 before cooling off. The cryptocurrency consolidated to close the week at $24,300. Bitcoin traded to lows of $23,850 to open the week before recovering to $24,400 at the time of publication.
The $25,000 handle is the nearest resistance for the cryptocurrency. We could see bids enter the market in a big way at $23,000.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets surged late yesterday and early today as markets traded to highest levels seen in the last six months. The rally was largely based on the strength of a short squeeze after the release of the retail sales data in the US which came out much stronger than expected.
Bitcoin held the $22,000 level on the downside before zooming past the $24,000 level. The cryptocurrency made highs of $24,900 early today before consolidating to $24,700 at the time of publication.
Bitcoin drove the crypto market bus yesterday as it was the major mover. The cryptocurrency broke key resistance levels at $22,500 and then $24,200 and now will look to move past the $25,000 handle.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets continued to recover yesterday as markets gained further clarity over the short term macroeconomic picture after the US CPI release. Although month on month inflation showed a substantial increase, crypto markets remained relatively risk-on while global equities were flat.
Bitcoin traded from lows of $21,550 yesterday to highs of $22,350 post data release. The cryptocurrency closed the day at $22,200 and was trading flat at the time of publication.
Although markets recovered yesterday, the near term bias remains bearish and we could see sellers emerging for Bitcoin at $22,500. We could see some bids in the market at $21,500.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets continued to trend downward before staging a minor recovery late yesterday. Global equities were also higher as markets took a breather from the recent selloff. The release of the US CPI data later today and retail sales data tomorrow will drive the markets in the near term.
Bitcoin made lows of $21,360 yesterday before recovering to close the day around $21,800. Price action remained rangebound and the cryptocurrency was trading flat early today.
Immediate support for Bitcoin remains at $21,500. A move lower could see the cryptocurrency test the $20,500 level. $22,500 could see some offers on the upside.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets consolidated over the weekend as markets took a breather from last week’s selloff. Bears appear to be in control of the near term price action as market participants look towards the release of the US CPI and and retail sales numbers to offer guidance on the macroeconomic front.
Bitcoin briefly traded below $21,500 on Friday before consolidating losses. The cryptocurrency traded above $22,000 before closing the week at $21,800. Bitcoin was trading flat at the time of publication.
Bitcoin bounced from its immediate support level at $21,500. If broken, we could see the cryptocurrency move towards $20,500. $22,500 is the nearest resistance on the upside.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets continued to sell off yesterday, extending losses for the second consecutive day as appetite for risk assets waned. Global equities were also down across the board and the US dollar strengthened. In a further jolt to crypto markets, crypto exchange Kraken had to immediately end its crypto staking service for US customers and pay a $30 Million settlement to the US SEC.
Bitcoin was offered for the entirety of yesterday. After initially selling off to $22,300 from day’s open at around $23,000, the cryptocurrency slid to lows of $21,700 in the North American session late in the day. Bitcoin was trading at $21,850 early today.
Immediate support level for Bitcoin is at $21,500. Sellers could again enter the market aggressively at $22,500.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets sold off from the week’s highs yesterday and early today in line with other risk assets across the globe. With markets having priced in a lower pace of rate hikes in the near-term, the sell-off reflects a slow down in the economy from the expectation that the Fed could keep rates high for longer than earlier anticipated.
Bitcoin made highs of $23,450 yesterday before selling off. The cryptocurrency moved to lows of $22,670 before clonsing the day near the $23,000 handle. Bitcoin saw fresh offers this morning as Asian markets opened, and made lows of $22,400. The cryptocurrency was trading around $22,500 at the time of publication.
Bitcoin was dealing at its $22,500 support level but looks poised for a move lower. The cryptocurrency could next be supported at $21,500. The $23,000 level should see offers in the near term.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets continued to consolidate on Friday and over the weekend as market participants absorbed recent macroeconomic developments. A better than expected non farm payroll number in the US indicated a strong labour market and took bond yields along with the US dollar sharply higher but equities and crypto mildly sold off.
Bitcoin consolidated around the $23,000 handle over the weekend, trading lower from last week’s highs of above $24,000. The cryptocurrency made lows of $22,750 on Sunday and was trading at $22,950 at the time of publication.
Bitcoin may look to test its immediate support level at $22,500. Nearest resistance level is at $24,000. Markets will look towards US Fed chair Powell’s comments at the Economic Club of Washington DC on Tuesday.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies recovered day before yesterday’s losses, rallied and the global crypto market cap increased by 3.27% to 1.06 trillions. Global traditional risk assets witnessed a risk on move and added to the 2023 gains.
Bitcoin was stable over $22,000 yesterday. Bitcoin price saw a downside correction below the $23,000 level. However, the cryptocurrency remained well bid near the $22,400 support zone making lows of $22,341 and the price started a fresh increase. There was a clear move above the $23,000 resistance zone and surged to a new yearly high at $23,829 and then declined back towards $23,000. Bitcoin was trading higher at $23,165 at the time of publication.
Bitcoin will now look towards the $25,000 level on the upside. Sellers may enter the market here. A move above could see the cryptoccurency hit $28,000. Immediate support on the downside is at $22,200.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets continued to rise amid risk-on sentiment across asset classes as equities traded to highest levels seen yet in 2023. In the crypto market although gains were muted in Bitcoin and Ethereum, major altcoins rallied to highest levels seen in recent times.
Bitcoin was supported at the $22,500 level yesterday. The cryptocurrency traded in the green after the US markets opened and traded to highs of $23,200 before closing the day just below the $23,000 handle. Bitcoin was trading at $23,100 at the time of publication.
Bitcoin will now look towards the $25,000 level on the upside. Sellers may enter the market here. A move above could see the cryptoccurency hit $28,000. Immediate support on the downside is at $22,500, below which we could also see bids at $21,600.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets posted solid gains across risk assets on Friday as market participants now see a lower chance of a recession in the US. Crypto led the way as major cryptocurrencies posted double digit gains. Markets will now look towards the GDP numbers from the US for near-term macroeconomic guidance.
Bitcoin broke key levels on Friday as the cryptocurrency moved above $22,000 and then $23,000 over the weekend. The apex cryptocurrency made highs of $23,375 before closing the week at $22,700 and was trading flat at the time of publication.
Bitcoin has continued to break key resistance levels indicating a strong momentum in this move. The cryptocurrency could see a move towards $25,000 on the upside. $21,600 is the nearest support level.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Risk sentiment soured across global markets as fears of an economic slowdown resurfaced. US treasury yields were down across the curve while equities and crypto markets tumbled as a weak retail sales and PPI in the US spooked investors.
Bitcoin made new swing highs of $21,650 before testing lows of $20,400 post data release. The cryptocurrency closed the day at $20,675 and was trading higher at $20,800 at the time of publication.
The $20,000 handle is the nearest support level for Bitcoin. On the upside, yesterday’s high of $21,650 is the immediate resistance level.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies consolidated gains yesterday decreasing the global crypto market cap by 0.45% to $991.10 Billions. Risk assets traded in the reds as traditional markets witnessed some consolidation and a stronger dollar.
Bitcoin was stable over $20,500 levels yesterday. The cryptocurrency made lows of $20,611 before rallying to the highs of $21,465. The cryptocurrency is hovering around $21,000 levels during the early Asian hours and was trading at $21,148 the time of publication. Bitcoin looked bullish and might breach $21,800 levels.
$18,400 remains an important support level. Having broken crucial resistances at $20,000 and $21,000, Bitcoin can now look to extend gains but if this rally turns out to be a dead cat bounce and the cryptocurrency falls below $20,000, the cryptocurrency can face huge selling pressure and decline towards $18,400.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies witnessed a major rally increasing the global crypto market cap to $997.17 Billions. Risk assets continued to trade in the green as traditional markets witnessed a risk on move and a weak dollar.
Bitcoin breached the $20,000 and $21,000 handles for the first time in over two months and was stable over $20,000 levels over the weekend. The cryptocurrency made highs of $21,437 before consolidating to close the day at $20,879. The cryptocurrency reclaimed $21,000 levels during the early Asian hours and was trading higher at $21,185 the time of publication. Bitcoin looked bullish and might breach $21,800 levels.
$18,400 remains an important support level. Having broken crucial resistances at $20,000 and $21,000, Bitcoin can now look to extend gains but if this rally turns out to be a dead cat bounce and the cryptocurrency falls below $20,000, the cryptocurrency can face huge selling pressure and decline towards $18,400.
Global markets continued to rise as markets awaited the US inflation print due for release later today. Markets expect a softening in the headline number which could justify this risk-on rally across asset classes over the last couple of days.
Bitcoin broke above the key $17,500 resistance level yesterday, making highs of $18,000. The cryptocurrency closed the day around the highs but saw fresh bids early in the Asian trading hours today, making new swing highs of $18,375. Bitcoin was trading at $18,220 at the time of publication.
Immediate support is now at the $17,500 level. While the December 2022 high of $18,400 is the level to watch on the upside, a move higher towards the $20,000 handle could be on the cards.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets fluctuated between gains and losses in a day of volatile trading across asset classes. US Fed Chair Jerome Powell reiterated the Fed’s stance of stabilising prices while also emphasising the Central Bank’s need to be free of political influence. Crypto markets remained resilient for most of the day with small selling in some altcoins early in the day. The broad market saw bids late in the day to close in the green.
Bitcoin traded around $17,200 for most of yesterday. The cryptocurrency made lows of $17,150 before late bids took it to highs of $17,500, closing the day at $17,450. Bitcoin was trading flat at the time of publication.
Immediate support remains at the $16,000 level while $17,500 is the nearest resistance. A move above $17,500 could see the cryptocurrency test December 2022 highs of $18,400.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market continued to remain highly correlated with global equities yesterday. The global crypto market cap was $850.25 Billion at the time of writing.
Bitcoin made lows of $16,962 earlier in the day before rallying to highs of $17,396 and later gave back some of the gains to close the day at $17,204 at the time of writing. The cryptocurrency was trading at $17,212 during the early Asian hours at the time of writing. FED chair Jerome Powell is set to speak today which will be in focus and may move the markets today.
Immediate support for the cryptocurrency is at $16,800 while, on the upside resistance is at $17,600.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The major cryptocurrencies rallied and the crypto market was dominated by bulls yesterday despite the slight risk-off sentiments of the global financial market. The global crypto market cap increased by 1.85% to $818.58 Billion.
Bitcoin made lows of $16,678 earlier in the day before rallying to highs of $16,896 and consolidated to close the day at $16,860. The cryptocurrency was trading at $16,845 during the early Asian hours at the time of writing. Bitcoin looks bullish and might breach $17,000 level today.
Immediate support for the cryptocurrency is at $16,000 while, on the upside resistance is at $17,200.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market was dominated by bulls yesterday despite the negative headwinds of the slight risk-off sentiments of the global financial market. The global crypto market cap increased by 0.86% to $805.75 Billion.
Bitcoin made lows of $16,542 earlier in the day before rallying to highs of $16,790 and later gave back some of the gains to close the day at $16,693. The cryptocurrency was trading at $16,680 during the early Asian hours at the time of writing. Bitcoin rejected the 20-day moving average yesterday and gave back some of the gains, price action near this level will be crucial for any positive trend formation.
Immediate support for the cryptocurrency is at $16,000 while, on the upside resistance is at $17,200.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets continued to crawl downwards as the year drew to a close – a year where crypto market capitalization has fallen by over 60%. Among the major digital assets, Solana’s slide has been one of the worst in the wake of FTX’s collapse.
Bitcoin was offered for most of yesterday. The cryptocurrency made highs of $16,780, before sliding to $16,460, closing the day at $16,540. Bitcoin was trading flat at the time of publication.
Immediate support remains at the $16,000 level while $17,500 is the closest upside resistance.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Crypto markets fell as the near-term price action turned slightly bearish amid thin volumes as major markets close their books for the year.
Bitcoin failed to test the $17,000 handle yet again yesterday, but broke below $16,750 thereafter to test $16,600. The cryptocurrency closed the day at $16,700 but was offered early today, making lows of $16,550. Bitcoin was trading at $16,650 at the time of publication.
Immediate support remains at the $16,000 level. $17,500 is the closest upside resistance.
Crypto markets continued to stay flat as major markets observed a holiday yesterday. Markets will await developments in the new year for details on the macroeconomic front although particpants will keep a close eye on the coronavirus developments after China decided to fully reopen its borders in the new year.
Bitcoin continued to consolidate just below $17,000. The cryptocurrency traded between $16,780 and $16,940 for most of yesterday, remaining on the tenterhooks of a breakout. Bitcoin was trading at $16,850 at the time of publication.
Immediate support remains at the $16,000 level. $17,500 is the closest upside resistance.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global equity markets nosedived and witnessed a risk off move yesterday. The major cryptocurrencies held up well against this move and the global crypto market cap stands at $812.42 Billion.
Bitcoin was struggling below $17,000 yesterday. The bears were able to push the price below the $16,600 support and the 100 hourly simple moving average. A low was formed near $16,570 before recovering towards $17,000 making highs of $16,881. Bitcoin looked bullish and was trading at $16,823 at the time of publication.
The cryptocurrency should be supported at $16,000 but a move lower could pave ways for a new bottom. The 20-day moving average comes in on the upside at $17,200.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global equity markets witnessed a risk on move yesterday. The major cryptocurrencies decoupled from this move and the global crypto market cap stands at $809.75 Billion.
Bitcoin was struggling below $17,000 yesterday. The bears were able to push the price below the $17,000 resistance and the 100 hourly simple moving average. A low was formed near $16,719 and the cryptocurrency was trading in a range since then. Bitcoin was trading at $16,830 at the time of publication.
The cryptocurrency should be supported at $16,000 but a move lower could pave ways for a new bottom. The 20-day moving average comes in on the upside at $17,200.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets took a break from the continuous selloff yesterday. The major cryptocurrencies followed this move and the global crypto market cap stands at $807.68 Billion.
Bitcoin was stable over $16,700 throughout the day yesterday. The bulls were able to push the price above the $16,800 resistance and the 100 hourly simple moving average. The cryptocurrency even spiked above the $17,000 resistance, but upsides were limited. A high was formed near $17,046 and the cryptocurrency was trading in a range since then. Bitcoin was trading at $16,835 at the time of publication.
The cryptocurrency should be supported at $16,000 but a move lower could pave ways for a new bottom. The 20-day moving average comes in on the upside at $17,200.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets continued to selloff yesterday as worries the Federal Reserve's policy path will result in a recession persist, with little in the way on the horion to alter the pessimism as the year starts to wrap up. The major cryptocurrencies followed this risk off move and the global market cap stands at $809.48 Billion.
Bitcoin was offered throughout the day yesterday and made lows of $16,293 before a quick recovery in the early Asian hours today. The cryptocurrency traded to highs of $16,871 and consolidated gains to close the day at $16,775. Bitcoin was trading at $16,779 at the time of publication.
The cryptocurrency should be supported at $16,000 but a move lower could pave ways for a new bottom. The 20-day moving average comes in on the upside at $17,200.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets continued to selloff on Friday as markets reacted to the US Fed’s rhetoric of consistent tightening, evaporating possibilities of a ‘soft landing’. The Fed’s release coupled with Binance Proof-of-Reserves auditor Mazars’ announcement of pausing all work on crypto clients were the key drivers in this move lower.
Bitcoin moved from highs of $17,500 to test the $16,500 level on Friday. The cryptocurrency traded flat over the weekend as volatility was subdued. Bitcoin was trading at $16,700 at the time of publication.
Bitcoin tested the key $16,500 support level before consolidating. A move lower could be in the offing with the $16,000 handle the next key level. The 20-day moving average comes in on the upside at $17,100.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets consolidated from recent highs as major central banks including the Swiss National Bank, the Bank of England and European Central Bank raised their key policy rate by 50 bps respectively. A lower than expected retail sales data in the US also added to the risk-off sentiment.
Bitcoin continued to face selling pressure yesterday moving down from $17,800 to lows of $17,300, closing near the lows. The cryptocurrency was trading at $17,400 at the time of publication.
Bitcoin may see bids at $16,500 if the current downtrend continues, while on the upside $18,400 is the nearest resistance.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Global markets continued to move higher yesterday till the announcement of the US Fed policy post which we saw a consolidation in the markets. The Fed, as expected raised the key policy rate by 50 bps but reiterated their hawkish stance, tempering expectations of a dovish policy anytime soon.
Bitcoin made highs of $18,400 in anticipation of the policy statement, but quickly sold off to $17,650 post announcement, closing the day at $17,800. The cryptocurrency made lows of $17,550 early today and was trading at $17,750 at the time of publication.
The Fed’s continued hawkishness dampened the bullish momentum of the past couple of days. The $18,400 level will be key on the upside. On the downside $17,400 level is the nearest support.
Global markets moved higher as inflation in the US slowed to 7.1%, down from 7.7% in October – recording a fifth straight monthly decline. Markets will now await the policy statement from the US Fed later today, with a 50 bp hike in the key policy rate expected by the markets.
Bitcoin was bid up consistently throughout the day as crypto markets moved in sync with other risk assets yesterday. The apex cryptocurrency remained above the $17,000 handle and made highs of $18,000 post CPI, closing the day at $17,800. Bitcoin was trading flat at the time of publication.
Increased volumes indicate a strong momentum to this move but the reaction to FOMC will determine if the trend continues. Nearest support for Bitcoin is at $17,400. A breakout above the $18,000 level could see the cryptocurrency move towards $20,000.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market followed traditional markets and witnessed risk on move yesterday ahead of the CPI data. The global crypto market cap increased by 0.88% to $848.78 Billion. The FOMC will be the major market event this week.
Bitcoin was stable above $16,800 yesterday. The cryptocurrency made lows of $16,910 before rallying to make highs of $17,240 and later consolidated gains to close the day at $17,130. The cryptocurrency was trading at $17,182 during the early Asian hours at the time of writing. US CPI will be in focus this week which may move the markets.
Immediate support for the cryptocurrency is at $16,700 while, on the upside resistance is at $17,700.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market was dominated by bears over the weekend. The global crypto market cap decreased by 1.92% to $841.18 Billion. The FOMC will be the major market event this week.
Bitcoin was offered below $17,500 over the weekend. The cryptocurrency made highs of $17,353 before selling off to make lows of $16,881 and later consolidated losses to close the day at $16,930. The cryptocurrency was trading at $16,950 during the early Asian hours at the time of writing. US CPI will be in focus this week which may move the markets.
Immediate support for the cryptocurrency is at $16,700 while, on the upside resistance is at $17,700.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market followed equities and bears dominated the crypto market yesterday. The crypto market traded with thin volumes yesterday. The global crypto market cap declined by 1.62% to $840.27 Billion.
Bitcoin made highs of $17,140 earlier in the day before selling off to lows of $16,679 and later conosolidated losses to close the day at $16,841. The cryptocurrency was trading at $16,820 during the early Asian hours at the time of writing. US Initial Jobless Claims will be in focus today which may move the markets today.
Immediate support for the cryptocurrency is at $16,500 while, on the upside resistance is at $17,200.
Ether followed Bitcoin in terms of price action yesterday but was relatively weaker than Bitcoin. The cryptocurrency made highs of $1,277 earlier in the day before selling off to lows of $1,215 and later consolidated losses to close the day at $1,230. Ether was trading at $1,228 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $1,150 while, on the upside resistance is at $1,280.
Polkadot followed the broader crypto market in terms of price action yesterday but was relatively weaker than the broader crypto market. The token made highs of $5.52 earlier in the day before selling off to lows of $5.24 and later consolidated losses to close the day at $5.28. Polkadot was trading at $5.28 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $5.00 while, on the upside resistance is at $5.50.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market continued to consolidate in a small range yesterday. The global crypto market cap was $853.16 Billion at the time of writing.
Bitcoin had an inside day in terms of price action yesterday. The cryptocurrency made highs of $17,102 before declining to lows of $16,904 and later consolidated to close the day at $16,975. Bitcoin broke the highs of yesterday and made highs of $17,140 and was trading at $17,005 at the time of writing. Low volatility in the crypto market suggests Bitcoin might continue to consolidate in a small range.
Immediate support for the cryptocurrency is at $16,600 while, on the upside resistance is at $17,400.
Ether followed Bitcoin in terms of price action yesterday but was relatively stronger than Bitcoin. The cryptocurrency made highs of $1,270 before selling off to lows of $1,241 and later consolidated to close the day at $1,252. Ether broke the highs of yesterday and made highs of $1,277 and was trading at $1,259 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $1,200 while, on the upside resistance is at $1,300.
Polkadot followed the broader crypto market in terms of price action yesterday but was relatively weaker than the broader crypto market. The token made highs of $5.51 earlier in the day before selling off to lows of $5.42 and later consolidated to close the day at $5.44. Polkadot broke the highs of yesterday and made highs of $5.52 and was trading at $5.45 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $5.10 while, on the upside resistance is at $5.85.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market followed the global financial market yesterday and was dominated by bears yesterday. The global crypto market cap declined by 1.91% to $853.56 billion.
Bitcoin made highs of $17,424 before selling off to lows of $16,865 and later recovered some of the losses to close the day at $16,944. The cryptocurrency was trading at $16,991 during the early Asian hours at the time of writing. Volatility has reduced significantly in the last 1-week which suggests Bitcoin might continue to consolidate in a small range. Immediate support for the cryptocurrency is at $16,500 while, on the upside resistance is at $17,600.
Ether followed Bitcoin in terms of price action yesterday but was relatively weaker than Bitcoin. The cryptocurrency made highs of $1,305 before selling off to lows of $1,246 and later recovered some of the losses to close the day at $1,259. Ether was trading at $1,258 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $1,200 while, on the upside resistance is at $1,300.
Polkadot followed the broader crypto market in terms of price action yesterday but was relatively weaker than the broader crypto market. The token made highs of $5.73 earlier in the day before selling off to lows of $5.43 and later consolidated losses to close the day at $5.48. Polkadot was trading at $5.47 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $5.10 while, on the upside resistance is at $5.85.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies traded in green over the weekend and the global crypto market cap increased by 1.38% to $864.96 Billion at the time of writing. A weak dollar and a risk-on move in the traditional markets might help in pumping the rally.
Bitcoin was stable over $16,800 over the weekend. The cryptocurrency made lows of $16,801 before rallying to highs of $17,332 and later consolidated some of the gains to close the day at $17,202. The cryptocurrency was trading higher at $17,315 during the early Asian hours at the time of writing. Bitcoin looks bullish and might breach $17,500 today.
Immediate support for the cryptocurrency is at $16,000 while, on the upside resistance is at $17,600.
Ether followed Bitcoin in terms of price action yesterday but looked weaker. The cryptocurrency made lows of $1,236 before rallying to highs of $1,298 and later consolidated some of the gains to close the day at $1,291. Ether was trading at $1,296 at the time of writing.
Immediate support for the cryptocurrency is at $1,160 while, on the upside resistance is at $1,370.
Polkadot followed the broader crypto market but was relatively stronger than the broader crypto market over the weekend. The token made lows of $5.40 before rallying to highs of $5.70 and later consolidated some of the gains to close the day at $5.68. Polkadot was trading at $5.70 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $5.00 while, on the upside resistance is at $6.20.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies traded in green yesterday and the global crypto market cap increased by 1.1% to $861.07 Billion at the time of writing. US equity markets witnessed risk on move after Federal Reserve chair Jerome Powell eased investor worries about the outlook of interest rate hikes.
Bitcoin was stable over $16,500 yesterday. The cryptocurrency made lows of $16,722 before rallying to highs of $17,230 and later consolidated some of the gains to close the day at $17,146. The cryptocurrency was trading at $17,142 during the early Asian hours at the time of writing. Bitcoin looks bullish and $17,500 is highly likely on the charts today.
Immediate support for the cryptocurrency is at $16,000 while, on the upside resistance is at $17,600.
Ether followed Bitcoin in terms of price action yesterday but looked stronger. The cryptocurrency made lows of $1,254 before rallying to highs of $1,310 and later consolidated some of the gains to close the day at $1,288. Ether was trading at $1,286 at the time of writing.
Immediate support for the cryptocurrency is at $1,160 while, on the upside resistance is at $1,370.
Polkadot followed the broader crypto market but was relatively weaker than the broader crypto market yesterday. The token made lows of $5.30 before rallying to highs of $5.49 and later consolidated some of the gains to close the day at $5.43. Polkadot was trading at $5.43 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $5.00 while, on the upside resistance is at $5.80.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market followed the global equities market yesterday in terms of price action. Volumes continued to remain below the 20-day average for the crypto market. The global crypto market cap was $832.81 Billion at the time of writing.
Bitcoin made highs of $16,566 before selling off to lows of $15,992 and later recovered some of the losses to close the day at $16,214. The cryptocurrency was trading at $16,462 during the early Asian hours at the time of writing. Bitcoin was trading near the 20-day moving average and the cryptocurrency is expected to consolidate near this level before the resumption of any trend. US CB Consumer Confidence will be in focus today which may move the markets today.
Immediate support for the cryptocurrency is at $16,000 while, on the upside resistance is at $16,900.
Ether followed Bitcoin in terms of price action yesterday. The cryptocurrency made highs of $1,215 before selling off to lows of $1,150 and later recovered some of the losses to close the week at $1,170. Ether rallied to the highs of yesterday during the early Asian hours and was trading at $1,197 at the time of writing.
Immediate support for the cryptocurrency is at $1,160 while, on the upside resistance is at $1,260.
Polkadot followed the broader crypto market but was relatively weaker than the broader crypto market yesterday. The token made highs of $5.38 before selling off to lows of $5.06 and later recovered some of the losses to close the day at $5.16. Polkadot was trading at $5.24 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $5.00 while, on the upside resistance is at $5.50.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT The crypto market traded in a small range during the weekend before declining during the early Asian hours. Volumes remained muted during the weekend. The global crypto market cap was $817.98 Billion at the time of writing.
Bitcoin made highs of $16,693 before declining to lows of $16,433 and later consolidated in this small range to close the weekend at $16,562. The cryptocurrency broke the lows of the weekend and made lows of $16,045 and was trading at $16,158 during the early Asian hours at the time of writing. ECB President Lagarde is set to speak today which will be in focus and may move the markets today.
Immediate support for the cryptocurrency is at $15,500 while, on the upside resistance is at $16,700.
Ether followed Bitcoin in terms of price action during the weekend. The cryptocurrency made lows of $1,195 before making highs of $1,235 and later consolidated in this small range to close the weekend at $1,215. Ether broke the lows of the weekend and made lows of $1,166 and was trading at $1,168 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $1,100 while, on the upside resistance is at $1,240.
Polkadot followed the broader crypto market in terms of price action during the weekend. The token made lows of $5.24 before rallying to highs of $5.45 and later consolidated in this small range to close the weekend at 5.38. Polkadot broke the lows of the weekend and made lows of $5.06 and was trading at $5.10 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $4.75 while, on the upside resistance is at $5.35.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies continued to trade in green yesterday as traditional markets witnessed a risk on move yesterday. Crypto market capitalization increased by 2.01% to $838 Billion. The release of the FOMC minutes yesterday indicated that policymakers at the U.S. central bank judged that “slowing in the pace of increase would likely soon be appropriate.”
Bitcoin was stable above the $16,000 level yesterday. The cryptocurrency made lows of $16,331 before making highs of $16,783, closing the day around $16,703. Bitcoin was trading lower at $16,662 at the time of publication. The cryptocurrency looks bullish and might breach $17,000.
Dips might be limited to $15,500 support level whereas the nearest resistance is at $17,500. Ether followed Bitcoin in moving higher yesterday as the cryptocurrency rallied to breach $1,200 making highs of $1,208 before closing the day at $1,201 and was trading flat at the time of publication.
The cryptocurrency to have held on well in comparison to Bitcoin, and the Ether-Bitcoin cross appears to have made a reversal on the bullish side.
Support for Ether remains at $1,080 whereas 1,250 is the closest resistance level.
Polkadot followed the broader market price action but appeared softer than Bitcoin and Ethereum as Polkadot declined against both.
Polkadot was trading at $5.46 at the time of publication. The cryptocurrency may look for support at the $5.00 handle. On the upside $5.80 is the nearest resistance.
SEBA Bank | Daily Crypto Market Report Daily Rundown – BTC, ETH and DOT Major cryptocurrencies traded in green yesterday as traditional markets witnessed a risk on move. Crypto market capitalization reclaimed $800 Billion level. FOMC minutes can be crucial for the markets today. Volumes and volatility increased as major cryptocurrencies broke resistance levels.
Bitcoin was stable above the $15,600 level yesterday. The cryptocurrency made lows of $15,643 before making highs of $16,562, closing the day around $16,588. Bitcoin was trading lower at $16,440 at the time of publication. The cryptocurrency looks bullish and might breach $17,000.
Dips might be limited to $15,500 support level whereas the nearest resistance is at $17,500.
Ether followed Bitcoin in moving higher yesterday as the cryptocurrency rallied to highs of $1,169 before closing the day at $1,156 and was trading flat at the time of publication.
The cryptocurrency to have held on well in comparison to Bitcoin, and the Ether-Bitcoin cross appears to have made a reversal on the bullish side.
Support for Ether remains at $1,080 whereas 1,250 is the closest resistance level.
Polkadot made new 2022 lows yesterday as the token slid below $5.00 but rallied after the broader market rally and appeared stronger than Bitcoin and Ethereum as Polkadot gained against both.
Polkadot was trading at $5.40 at the time of publication. The cryptocurrency may look for support at the $5.00 handle. On the upside $5.80 is the nearest resistance.
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Crypto markets continued to trade downwards over the weekend as markets face uncertainity about crypto institutions. Crypto market capitalization has fallen below $800 Billion and is around the January 2021 levels – when the market began a parabolic rise. Volumes very mostly muted on major exchanges over the weekend.
Bitcoin was offered below the $17,000 level. The cryptocurrency made highs of $16,859 before making lows of $15,879, closing the day around $16,100. Bitcoin was trading higher today at $16,150 at the time of publication.
Support for Bitcoin is at $15,500, while nearest upside resistance remains at $18,500.
Ether had a similar price action to Bitcoin over the weekend but continued to trade weaker in comparison.
The cryptocurrency made highs of $1,231 before selling off, only to find support at the $1,100 level, closing the day around $1,120. Ether was trading higher at $1,131 at the time of publication.
Support for Ether remains at $1,080, while $1,380 is the closest resistance level.
Polkadot, following the broad market trend and made recent swing lows. The token traded from highs of $5.74 to lows of $5.14. Polkadot closed at $5.20 but was trading higher at $5.27 at the time of writing.
Support and resistance levels for Polkadot remain intact at $5.00 and $6.35 respectively.
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Crypto markets continued to trade sideways as markets absorbed more developments from the FTX saga. Crypto market capitalization has fallen below $800 Billion and is around the January 2021 levels – when the market began a parabolic rise. Volumes fell across major exchanges as market participants sit on the sidelines awaiting the complete picture from the current turmoil.
Bitcoin continued to sit above the $16,000 level. The cryptocurrency made lows of $16,400 before making highs of $16,740, closing the day around the highs. Bitcoin was trading higher today at $16,900 at the time of publication.
Support for Bitcoin is at $15,500, while nearest upside resistance remains at $18,500.
Ether had a similar price action to Bitcoin yesterday but continued to trade weaker in comparison.
The cryptocurrency made highs of $1,227 before selling off, only to find support at the $1,180 level, closing the day around the $1,200 handle. Ether was trading higher at $1,225 at the time of publication.
Support for Ether remains at $1,080, while $1,380 is the closest resistance level.
Polkadot, following the broad market trend, also had a day of low volatility yesterday.
The token traded in a seventeen-cent range, trading between $5.55 on the downside and $5.72 on the upside. Polkadot closed yesterday at $5.67 but was trading higher at $5.75 early today.
Support and resistance levels for Polkadot remain intact at $5.30 and $6.35 respectively.
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Crypto markets consolidated yesterday as markets gave up some gains from the last two days. Fears of the FTX contagion continued to hold sway as exchanges faced massive withdrawals. Markets will be keeping an eye on developments from FTX and more news from the G20 meetings that concluded yesterday.
Bitcoin failed to break the $17,000 handle yesterday as the cryptocurrency quickly sold off from the level to lows of $16,350, eventually closing the day at $16,650. Bitcoin was trading at $16,500 at the time of publication.
Support and resistance levels for Bitcoin remain intact at $18,500 and $15,500 respectively.
Ether continued to be sold off against Bitcoin as risk-off sentiment once again prevailed in the markets.
The cryptocurrency made highs of $1,266 before selling off to $1,185, closing the day at $1,215. Ether was trading at $1,200 at the time of publication.
Nearest support for Ether remains at $1,080, while $1,380 is the closest resistance on the upside.
Polkadot followed the broad crypto market yesterday, selling off in sync with major cryptocurrencies.
The token failed to break the $6.00 handle on the upside and sold off to $5.60, closing the day just above at $5.70. Polkadot was trading flat at the time of publication.
Support for Polkadot remains at $5.30 while $6.35 is the nearest resistance.
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Crypto markets continued to recover yesterday inspite of fears of a NATO attack on Russia after reports emerged that missiles fired by Russia had landed in Poland, killing at least two people. Russia’s ministry of defence denied the strikes. The recovery was helped in part by the easing of the US wholesale inflation for the fourth straight quarter. Global markets will look towards developments from the Russia-Ukraine conflict and the US retail sales data due for release later today.
Bitcoin traded between $16,500 aand $17,100 yesterday, closing the day at $16,900. The cryptocurrency was trading flat $16,800 at the time of publication.
Upside resistance remains at $18,500. $15,500 is the nearest support level.
Ether was weak in comparison to Bitcoin yesterday. The cryptocurrency traded to highs of $1,290 before consolidating to $1,250 at close. Ether was trading at $1,260 at the time of publication.
Nearest support for Ether remains at $1,080, while $1,380 is the nearest resistance on the upside.
Polkadot followed the broad crypto market yesterday, capping a day of low volatility for most cryptocurrencies.
The token made lows of $5.80 before breaking the $6.00 handle on the upside, making an intraday high of $6.05. Polkadot closed the day around $5.95 and was trading flat at the time of publication.
Nearest support for the cryptocurrency is at the 2022 lows of around $5.30. The closest resistance level is $6.35.
SEBA Bank | Daily Crypto Market Report
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Crypto markets staged a minor recovery yesterday with Bitcoin holding steady above $16,000 after reports emerged that Binance CEO Changpeng Zhao was starting a recovery fund to “rebuild” the crypto industry. On the macroeconomic front, markets will look forward to the US PPI data due for release later today.
Bitcoin recovered from $15,800 to highs of $17,150 before consolidating to close the day at $16,600. The cryptocurrency was trading at $16,800 at the time of publication.
Bitcoin will now look to test $18,500 on the upside. The $15,500 level remains the nearest downside support.
Ether made lows of $1,170 before recovering to highs of $1,290, cooling off to close the day at $1,240.
The cryptocurrency was trading at $1,255 at the time of publication.
Downside support for Ether remains at $1,080. $1,380 is the resistance on the upside.
Polkadot followed the broad crypto market recovery but was stronger than Bitcoin and Ether yet again.
The token traded from lows of $5.45 to highs of $5.90. Polkadot closed around the highs and was trading flat at the time of publication.
Immediate support for the cryptocurrency sits at $5.00 while, on the upside resistance is at $6.80.
SEBA Bank | Daily Crypto Market Report
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Crypto markets continued to be jolted by the FTX saga as markets sold off over the weekend after reports emerged of a hack amounting above $600 Million on the exchange emerged. This was in stark contrast to other global markets which seemed to celebrate the Democrats’ winning control of the US Senate in the midterm elections and a softening in the headline CPI number.
After briefly trading above the $17,000 handle over the weekend, Bitcoin retested the $16,000 level, making lows of $15,900 early today. The cryptocurrency was trading at $16,100 at the time of publication. Markets will look towards the US PPI and Retail Sales data due for release this week, although any developments from the FTX bankruptcy proceedings would be more impactful on crypto markets.
Bitcoin appears set to test last week’s lows of $15,500 again while a move lower to $15,000 cannot be ruled out. On the upside we might see aggressive selling at $18,500.
Ether briefly traded above $1,300 before selling off to $1,170 early this morning but has traded stronger than Bitcoin in the past couple of days.
The cryptocurrency was trading at $1,190 at the time of publication.
Ether could test $1,080 on the downside, while on the upside we could see a move towards $1,380.
Polkadot has followed the market sell-off the past few days but interestingly has continued to strengthen against both Bitcoin and Ether. The token made highs of around $6.00 over the weekend before softening to $5.50 at the time of publication. Immediate support for the cryptocurrency sits at $5.00 while, on the upside resistance is at $6.80.
SEBA Bank | Daily Crypto Market Report
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Major cryptocurrencies rallied over the weekend and the global crypto market cap increased by 1.89% to $1.03 Trillion. Friday’s job report indicated that the participation rate fell slightly, a sign that higher rates are having some effect. The unemployment rate rose to 3.7%. A hotter-than-expected inflation number on Thursday could mean a pivot by the Federal Reserve on interest rates is further away.
Bitcoin remained well bid above the $20,500 levels. The cryptocurrency gained pace for a move above the $21,000 resistance zone making highs of $21,469 before there was a downside correction below the $21,000 level and was now consolidating gains. The cryptocurrency was trading at $20,879 at the time of publication and above the 100 hourly simple moving average.
Support for Bitcoin remains at $20,000. On the upside the $21,800 handle is the resistance.
Ether remained well bid above $1,550 over the weekend, replicating the price action in Bitcoin. The cryptocurrency made highs of $1,676 before correcting down towards $1,600 and was trading lower at $1,587 at the time of publication.
Ether should be supported at $1,550 and the previous swing high of $1,675 is the nearest resistance on the upside.
Polkadot had a stronger price action compared to its peers Bitcoin and Ether, trading strongly against both. The token traded from lows of $6.68 to highs of $7.24 yesterday, closing the day at $6.87. Polkadot was trading higher again this morning, above the $6.90 handle.
Polkadot should be supported today at $6.50. The nearest upside resistance is at $7.50.
SEBA Bank | Daily Crypto Market Report
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Crypto markets closed a rangebound day slightly in the green as markets stemmed the selloff from the previous day. Markets now look forward to the inflation print due next week. A softening in the headline number may boost risk sentiment.
Bitcoin traded between $20,000 and $20,400 yesterday. A failure to break the crucial $20,000 support on the downside is a positive sign. The cryptocurrency was trading at $20,300 at the time of publication.
Support for Bitcoin remains at $20,000. On the upside the $21,000 handle is the resistance.
Ether traded between $1,515 and $1,560 yesterday, replicating the price action in Bitcoin, closing the day at $1,530. The cryptocurrency was trading higher at $1,542 at the time of publication.
Ether should be supported at $1,480, where we also see the 20-day moving average coming in. The previous swing high of $1,665 is the nearest resistance on the upside.
Polkadot had a livelier price action compared to its peers Bitcoin and Ether, trading strongly against both. The token traded from lows of $6.22 to highs of $6.53 yesterday, closing the day at $6.42. Polkadot was trading higher again this morning, above the $6.50 handle.
Polkadot should be supported today at $6.30. The nearest upside resistance is at $6.80. The cryptocurrency has outperformed Bitcoin and Ether post FOMC and may have turned a corner in its weak price action.
SEBA Bank | Daily Crypto Market Report
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Markets traded in a narrow range yesterday as participants awaited the Fed policy decision due later today. Risk assets cooled off from recent highs while the US dollar stayed bid.
Bitcoin traded between $20,700 on the upside and $20,325 on the downside yesterday, closing the day around $20,500. With volatility lower across major exchanges, the cryptocurrency was trading flat at the time of publication.
Bitcoin should be supported at $20,000 with the level also acting as the 20 day moving average. On the upside, a clear break of $21,000 is awaited to ascertain further bull momentum.
Ether also traded in a range yesterday making highs of $1,612 before cooling off to $1,563. The cryptocurrency closed the day around $1,580 and was trading flat at the time of publication.
We could see a move towards $1,480 on the downside, while on the upside, $1,680 is the nearest resistance level.
Polkadot trended lower yesterday as opposed to its bigger counterparts Bitcoin and Ether which were rangebound or flat.
The token made a high of $6.70 before selling off to $6.45, closing near the lows and was trading flat at the time of publication.
Polkadot should be supported at $6.00. The nearest upside resistance is at $6.80. The cryptocurrency has failed to replicate the bull momentum of its peers in the last move, it will be interesting to see the price action here post FOMC.
SEBA Bank | Daily Crypto Market Report
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Major cryptocurrencies continued to remain under pressure yesterday as the global financial market was dominated by risk-off sentiment led by the US Dollar strengthening. The global crypto market was $1.02 Trillion at the time of publication.
Bitcoin made highs of $20,837 before selling off to lows of $20,237 and later consolidated losses to close the day at $20,477. The cryptocurrency was trading at $20,495 during the early Asian hours at the time of writing. Bitcoin is facing resistance near the 100-day moving average and the price action near this level will be crucial to continue the current trend. US ISM Manufacturing PMI and JOLT’s job opening will be in focus today which may move the markets today.
Immediate support for the cryptocurrency is at $19,800 while, on the upside the resistance is at $21,100.
Ether followed Bitcoin in terms of price action yesterday but was relatively weaker than Bitcoin. The cryptocurrency made highs of $1,635 before selling off to lows of $1,546 and later consolidated losses to close the day at $1,565. Ether was trading at $1,590 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $1,510 while, on the upside the resistance is at $1,660.
Polkadot followed the broader crypto market in terms of price action yesterday. The cryptocurrency made highs of $6.83 before selling off to lows of $6.56 and later closed the day slightly higher at $6.63. Polkadot was trading at $6.61 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $6.10 while, on the upside the resistance is at $7.10.
SEBA Bank | Daily Crypto Market Report
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Volumes remained low in the crypto market during the weekend despite major cryptocurrencies broke above Friday’s highs during the weekend. Strong upside moves were observed in Metaverse-focused cryptocurrencies and Meme cryptocurrencies during the weekend. The global crypto market cap was $1.01 Trillion at the time of publication.
Bitcoin made highs of $21,080 earlier in the weekend before selling off to lows of $20,524 and later closed the weekend at $20,592. The cryptocurrencies broke the lows of the weekend and made lows of $20,430 and was trading at $20,533 during the early Asian hours at the time of writing. Bitcoin is facing resistance near the 100-day moving average and the price action near this level will be crucial to continue the current trend.
Immediate support for the cryptocurrency is at $19,800 while, on the upside the resistance is at $21,250.
Ether followed Bitcoin in terms of price action but was relatively stronger than Bitcoin during the weekend. The cryptocurrency made lows of $1,547 before rallying to highs of $1,664 and later gave back most of the gains to close the weekend at $1,587. Ether was trading at $1,583 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $1,510 while, on the upside the next resistance is at $1,660.
Polkadot followed the broader crypto market in terms of price action during the weekend but was relatively stronger than the broader crypto market. The token made lows of $6.49 before rallying to highs of $6.77 and later gave back some of the gains to close the weekend at $6.61. Polkadot broke above the highs of the weekend and made highs of $6.79 and was trading at $6.76 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $6.44 while, on the upside the next resistance is at $7.10.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Cryptocurrencies followed the equities, which slumped on disappointing tech earnings and macroeconomic yesterday. Major cryptocurrencies sold off and the global crypto market cap decreased by 2.89% to $982.04 Billion.
Bitcoin price remained well offered below the $21,000 and $20,800 resistance levels yesterday. The cryptocurrency formed a top and started a fresh decline below the $20,500 level. It declined over 3% and the cryptocurrency made lows of $20,172 and the price is now consolidating losses. Bitcoin was trading above the 100 hourly simple moving average and at $20,268 at the time of writing.
Immediate support for the cryptocurrency is at $19,000 while, on the upside the next resistance is at $21,200.
Ether followed Bitcoin in terms of price action but was relatively weaker than Bitcoin. The cryptocurrency made highs of $1,577 before selling off to lows of $1,496 and later consolidated some of the losses to close the day at $1,505. Ether looks bullish and was trading at $1,509 at the time of writing.
Immediate support for the cryptocurrency is at $1,350 while, on the upside the next resistance is at $1,650.
Polkadot followed the broader crypto market but was relatively stronger than the broader market. The cryptocurrency made highs of $6.64 earlier in the day before selling off to lows of $6.26 and later consolidated losses to close the day at $6.35. Polkadot was trading at $6.38 at the time of writing. Immediate support for the cryptocurrency is at $6.00 while, on the upside the next resistance is at $7.00.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Cryptocurrencies diverged from stocks, which slumped on disappointing tech earnings yesterday.Major cryptocurrencies continued to rally and the global crypto market cap increased by 3.02% to $1.01 trillion.
Bitcoin price remained well bid above the $19,800 and $20,000 support levels yesterday. The cryptocurrency formed a base and started a fresh increase above the $20,500 resistance levels. It gained over 3% and there was a clear move above the $20,800 resistance. The cryptocurrency made highs of $21,012 and the price is now consolidating gains. Bitcoin was trading above the 100 hourly simple moving average and at $20,801 at the time of writing.
Immediate support for the cryptocurrency is at $19,000 while, on the upside the next resistance is at $21,200.
Ether followed Bitcoin in terms of price action but was relatively stronger than Bitcoin. The cryptocurrency made lows of $1,477 before rallying to highs of $1,595 and later consolidated some of the gains to close the day at $1,555. Ether looks bullish and was trading at $1,563 at the time of writing.
Immediate support for the cryptocurrency is at $1,350 while, on the upside the next resistance is at $1,650.
Polkadot followed the broader crypto market but was relatively weaker than the broader market. The cryptocurrency made highs of $6.61 earlier in the day before selling off to lows of $6.41 later consolidated gains to close the day at $6.50. Polkadot was trading at $6.52 at the time of writing. Immediate support for the cryptocurrency is at $6.00 while, on the upside the next resistance is at $7.00.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-on sentiment dominated the global financial markets yesterday. The crypto market participated in the broader market rally but was relatively stronger than equities breaking out of major resistance zones. The global crypto market cap increased by 5.10% to $979.59 Billion.
Bitcoin price remained well bid above the $19,000 and $19,200 support levels yesterday. The cryptocurrency formed a base and started a fresh increase above the $19,650 resistance levels. It gained over 5% and there was a clear move above the $20,000 resistance. The cryptocurrency made highs of $20,418 and the price is now consolidating gains. Bitcoin was trading above the 100 hourly simple moving average and at $19,319 at the time of writing.
Immediate support for the cryptocurrency is at $19,000 while, on the upside the next resistance is at $20,800.
Ether followed Bitcoin in terms of price action but was relatively stronger than Bitcoin. The cryptocurrency made lows of $1,339 before rallying to highs of $1,525 and later consolidated some of the gains to close the day at $1,487. Ether looks bullish and was trading at $1,478 at the time of writing.
Immediate support for the cryptocurrency is at $1,350 while, on the upside the next resistance is at $1,550.
Polkadot followed the broader crypto market in terms of price action but was relatively stronger than the broader market. The cryptocurrency made lows of $5.91 earlier in the day before rallying to highs of $6.62 later consolidated gains to close the day at $6.50. Polkadot was trading at $5.92 at the time of writing. Immediate support for the cryptocurrency is at $6.00 while, on the upside the next resistance is at $7.00.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-on sentiment dominated the global financial markets yesterday. The crypto market participated in the broader market rally but was relatively weaker than equities. The global crypto market cap increased by 0.35% to $932.87 Billion.
Bitcoin was stable over $19,000 yesterday. The cryptocurrency made lows of $19,169 before rallying to highs of $19,427 and later consolidated some of the gains to close the day at $19,344. Bitcoin was trading at $19,319 at the time of writing.
Immediate support for the cryptocurrency is at $19,000 while, on the upside the next resistance is at a psychologically important level of $20,000.
Ether followed Bitcoin in terms of price action but was relatively stronger than Bitcoin. The cryptocurrency made lows of $1,324 before rallying to highs of $1,359 and later consolidated some of the gains to close the day at $1,347. Ether looks bullish and was trading at $1,348 at the time of writing.
Immediate support for the cryptocurrency is at $1,280 while, on the upside the next resistance is at $1,400.
Polkadot followed the broader crypto market in terms of price action but was relatively stronger than the broader market. The cryptocurrency made lows of $5.80 earlier in the day before rallying to highs of $5.95 later consolidated gains to close the day at $5.93. Polkadot was trading at $5.92 at the time of writing.
Immediate support for the cryptocurrency is at $5.70 while, on the upside the next resistance is at $6.50.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-on sentiment continued to dominate the global financial markets over the weekend. The crypto markets followed the global financial markets and the global crypto market cap increased by 1.77% to $931.33 Billion.
Bitcoin started a fresh decline from well above the $19,200 level. The cryptocurrency declined below the $19,000 and $18,800 levels to move into a supoport zone making lows of $18,660. The cryptocurrency then recovered losses to highs of $19,689 and consolidated gains to close the day at $19,392. The cryptocurrency was trading above 100 hourly simple moving average and at $19,337 during the early Asian hours at the time of writing. Immediate resistance for the cryptocurrency is at $20,000 while, on the downside support is at $18,600.
Ether followed Bitcoin in terms of price action but was relatively stronger than Bitcoin over the weekend. The cryptocurrency made lows of $1,252 before rallying to highs of $1,370 and later closed the day at $1,350. Ether was trading at $1,347 at the time of writing.
Immediate resistance for Ether is at $1,390 while, on the downside support is at $1,250.
Polkadot followed the broader crypto market in terms of price action but was relatively weaker than the broader crypto market. The token made lows of $5.74 before rallying to highs of $5.98 and later closed the day at $5.87. The cryptocurrency was trading at $5.86 at the time of writing.
Immediate resistance for Polkadot is at $6.40 while, on the downside support is at $5.70.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The global financial markets continued to be dominated by bears and the crypto market followed the global financial markets yesterday. The global crypto market cap declined by 0.24% to $913.84 Billion.
Bitcoin made lows of $18,905 during the early Asian hours before rallying to highs of $19,349 and later sold off after the US data release and gave back all the gains made during the day to close the day at $19,072. The cryptocurrency was trading at $19,050 during the early Asian hours at the time of writing. EU leaders summit will be in focus today which may move the markets today. Immediate support for Bitcoin is at $18,800 while, on the upside the resistance is at $19,350.
Ether followed Bitcoin in terms of price action but was relatively weaker than Bitcoin. The cryptocurrency made lows of $1,270 during the early Asian hours before rallying to highs of $1,311 and later sold off and gave back all the gains made during the day to close the day at $1,284. The cryptocurrency was trading at $1,287 during the early Asian hours at the time of writing. Immediate support for Ether is at $1,250 while on the upside, the resistance is at $1,315.
Polkadot was relatively weaker than the broader crypto market in terms of price action yesterday. The token made highs of $6.15 before selling off to lows of $5.82 and later consolidated losses to close the day at $5.88. Polkadot broke the lows of yesterday and made lows of $5.78 and was trading at $5.86 during the early Asian hours at the time of writing.
Next support for the token is at $5.50 while on the upside, the resistance is at $6.05.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment dominated the global financial market yesterday and the crypto market followed the global financial market in terms of price action. The global crypto market cap declined by 1.21% to $915.98 Billion.
Bitcoin made highs of $19,371 earlier in the day before selling off to lows of $19,062 and later consolidated losses to close the day at $19,195. The cryptocurrency broke the lows of yesterday and made lows of $18,905 and was trading at $19,048 during the early Asian hours at the time of writing. US Initial Jobless Claims and Existing Home Sales will be in focus today which may move the markets today.
Immediate support for Bitcoin is at $18,800 while, on the upside the resistance is at $19,350.
Ether followed Bitcoin in terms of price action but was relatively weaker than Bitcoin. Ether made highs of $1,316 earlier in the day before selling off to lows of $1,287 and later consolidated losses to close the day at $1,294. The cryptocurrency broke the lows of yesterday and made lows of $1,270 and was trading at $1,280 during the early Asian hours at the time of writing.
Immediate support for Ether is at $1,250 while, on the upside the resistance is at $1,315.
Polkadot was relatively stronger than the broader crypto market yesterday. The token made lows of $6.06 before rallying to highs of $6.25 and later consolidated near the day highs to close the day at $6.22. Polkadot broke the lows of yesterday and made lows of $6.00 and was trading at $6.08 during the early Asian hours at the time of writing.
Immediate support for the token is at $5.80 while, on the upside the resistance is at $6.25.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility continued to decline in the crypto market. The crypto market continued to remain relatively weaker compared to equities yesterday. The global crypto market cap declined by 0.92% to $927.46 Billion.
Bitcoin made highs of $19,702 before selling off to lows of $19,091 and later bounced back to regain some of the losses to close the day at $19,296. The cryptocurrency was trading at $19,280 during the early Asian hours at the time of writing. US Building Permits and Crude Oil Inventories will be in focus today which may move the markets today. Immediate support for Bitcoin is at $18,800 while, on the upside the resistance is at $19,700.
Ether followed Bitcoin in terms of price action but was relatively weaker than Bitcoin. The cryptocurrency made highs of $1,342 before selling off to lows of $1,286 and later regained some of the losses to close the day at $1,310. Ether was trading at $1,303 during the early Asian hours at the time of writing.
Immediate support for the cryptocurrency is at $1,270 while, on the upside resistance is at $1,330.
Polkadot followed the broader crypto market in terms of price action but was relatively weaker than the broader market. The cryptocurrency made highs of $6.30 before selling off to lows of $6.10 and later regained some of the losses to close the day at $6.15. Polkadot was trading at $6.12 during the early Asian hours at the time of writing.
Immediate support for the token is at $5.90 while, on the upside the next resistance is at $6.30.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-on sentiment dominated the global financial markets on Monday. The crypto market participated in the broader market rally but was relatively weaker than Equities. The global crypto market cap increased by 1.90% to $936.87 Billion.
Bitcoin made lows of $19,118 earlier in the day before rallying to highs of $19,679 and later consolidated some of the gains to close the day at $19,515. The cryptocurrency closed above the 20-day moving average yesterday which is a sign of strength. Bitcoin was trading at $19,548 at the time of writing.
Immediate support for the cryptocurrency is at $19,200 while, on the upside the next resistance is at a psychologically important level of $20,000.
Ether followed Bitcoin in terms of price action but was relatively stronger than Bitcoin. The cryptocurrency made lows of $1,291 earlier in the day before rallying to highs of $1,338 and later consolidated some of the gains to close the day at $1,330. The cryptocurrency closed above the 20-day moving average yesterday which is a sign of strength. Ether broke the highs of yesterday and made highs of $1,342 and was trading at $1,333 at the time of writing.
Immediate support for the cryptocurrency is at $1,290 while, on the upside the next resistance is at $1,370.
Polkadot followed the broader crypto market in terms of price action but was relatively weaker than the broader market. The cryptocurrency made lows of $6.12 earlier in the day before rallying to highs of $6.29 where it faced resistance near the 20-day moving average and later consolidated gains to close the day at $6.25. Polkadot broke the highs of yesterday and made highs of $6.30 and was trading at $6.24 at the time of writing.
Immediate support for the cryptocurrency is at $6.00 while, on the upside the next resistance is at $6.50.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Global markets tumbled yesterday after US CPI came in hotter than expected at 8.2% instead of the forecasted 8.1% and the US Dollar traded higher. Incredibly, markets reversed course across asset classes, with risk assets trading higher into green territory.
Bitcoin traded lower after the release of the US CPI making lows of $18,130 before recovering strongly. The cryptocurrency made highs of $19,500 before closing the day at $19,380. The bullish sentiment continued into the Asian session today with Bitcoin trading at $19,850 at the time of publication.
The $18,150 level seems to have held on for now on the downside. We may see some short-term profit booking at $20,500.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Markets continued to be rangebound for the second straight day as a small rally after the release of the FOMC meeting minutes was shortlived and risk assets consolidated again. Market participants now await the US CPI data release later today. The data release could be a catalyst for a market breakout.
Bitcoin traded in an even narrower range yesterday – between $18,970 on the downside and $19,230 on the upside, closing the day at $19,150. The cryptocurrency was trading at $19,080 at the time of publication.
Near-term support remains at $18,150, while the $20,500 level should be the level to watch on the upside.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets continued to trend downwards as global markets traded in a range in anticipation of the FOMC minutes due for release later today. A softening in the headline number may boost risk sentiment in the markets.
Bitcoin appeared to trend lower trading between $18,850 and $19,250, closing the day just above the $19,000 handle. The cryptocurrency was trading at $19,050 at the time of publication.
September lows of $18,150 remain the immediate downside support for Bitcoin. The $20,500 level is the nearest resistance.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment continued to dominate the global financial markets yesterday. The crypto markets followed the global financial markets and the global crypto market cap declined by 2.85% to $917.80 Billion.
Bitcoin price remained in a bearish zone below the $20,000 support. The cryptocurrency slowly moved and settled below the $19,500 support and there was a clear move below the $19,200 support zone, increasing pressure on the bulls. The cryptocurrency made lows of $18,962 and is now consolidating losses near the $19,000 pivot level. The cryptocurrency was trading below 100 hourly simple moving average and at $19,028 at the time of writing.
Immediate resistance for the cryptocurrency is at $20,500 while, on the downside support is at $18,800.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment continued to dominate the global financial markets over the weekend. The crypto markets followed the global financial markets and the global crypto market cap declined by 1.53% to $943.60 Billion.
Bitcoin started a fresh decline from well above the $20,200 level. The cryptocurrency declined below the $20,000 and $19,750 levels to move into a bearish zone.The bears even pushed the price below the $19,500 level making lows of $19,259. The cryptocurrency was trading below 100 hourly simple moving average and at $19,467 during the early Asian hours at the time of writing. US CPI data will be in focus this week which may move the markets. Immediate resistance for the cryptocurrency is at $20,500 while, on the downside support is at $19,000.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment dominated the global financial markets yesterday. The crypto markets followed the global financial markets and the global crypto market cap declined by 1.66% to $958.35Billion.
Volumes continued to remain elevated for Bitcoin. The cryptocurrency made highs of $20,455 before selling off to lows of $19,855 and later closed the day near the day lows at $19,915. Bitcoin was trading at $19,992 during the early Asian hours at the time of writing. US Nonfarm Payrolls and Unemployment Rate will be in focus today which may move the markets today. Immediate resistance for the cryptocurrency is at $20,500 while, on the downside support is at $19,600.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The global financial market had a volatile session yesterday but crypto markets remained stable relative to the global financial markets. Solid ADP employment report and ISM Services Index which poured cold water onto the notion of Fed pivot. S&P500 managed to pare losses and settled 0.2% higher. The global crypto market cap was $964.63Billion at the time of writing.
Bitcoin made highs of $20,394 earlier in the day before selling off to lows of $19,750 and later recovered some of the losses to close the day at $20,054. The cryptocurrency broke the highs of yesterday and made highs of $20,455 and was trading at $20,361 at the time of writing. US Initial Jobless Claims will be in focus today which may move the markets today.
Immediate resistance for the cryptocurrency is at $21,000 while, on the downside support is at $19,600.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-on sentiment dominated the global financial markets yesterday. Risk-on assets extended their advance following job openings data pointing to a weakening in the labour market, leading to speculation that the Fed could back off its aggressive tightening campaign sooner than expected. The crypto market participated in the broader market rally and the crypto market cap increased by 1.92% to $962.16 Billion.
Bitcoin made lows of $19,495 earlier in the day before rallying to highs of $20,479 and later consolidated gains to close the day at $20,297. The cryptocurrency was trading at $20,121 during the early Asian hours at the time of writing. US ADP Nonfarm Employment Change, US ISM Non-Manufacturing PMI and OPEC Meeting will be in focus today which may move the markets. Bitcoin is consolidating in triangular congestion on the daily timeframe and price action near the $21,000 resistance level on this congestion pattern will be crucial for further upside.
Immediate resistance for the cryptocurrency is at $21,000 while, on the downside support is at $19,400.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Global markets jumped as a weaker than expected manufacturing index data in the US decreased expectations of accelerated hiking of interest rates by the US Fed.
Bitcoin made lows of $18,960 before recovering to $19,700. The cryptocurrency was trading at $19,550 at the time of publication.
Bitcoin saw bids at $18,500 last week and the level remains an important one to watch on the downside. We may see some selling at $20,000 but the near-term bias seems to be bullish.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets continued to soften in sync with other global risk assets as Bitcoin met stiff resistance at the $20,000 handle yet again. With the US non-farm payroll data expected this week, markets may continue to be rangebound.
Bitcoin hit highs of $20,200 before softening on Friday and over the weekend. The apex cryptocurrency briefly traded below the $19,000 handle and was consolidating around the level at the time of publication.
Bitcoin saw bids at $18,500 last week. $20,000 is the nearest resistance level.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The global crypto markets consolidated gains yesterday as the global crypto market cap decreased by 0.21% to $942.23 Billion. Bitcoin’s correlation with tech stocks remains, but it isn’t breaking as bad as it has during most of the cycles. Major coins appeared resilient in the face of a tech meltdown yesterday in the stock market.
Bitcoin remained stable above the $18,800 level. The cryptocurrency made lows of $18,862 before making highs of $19,698 and later gave back some gains to close the day at $19,399. The cryptocurrency looks rangebound and might trade from $18,500 to $20,500 . The cryptocurrency was trading at $19,442 at the time of writing.
Dips might be limited to $18,000 for Bitcoin whereas immediate resistance is at $20,500.
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SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-on assets were dominated by bears yesterday. The uncertainty has reduced in the market as the Ethereum merge was completed yesterday. The global crypto market cap declined by 2.31% to $963.94B.
Bitcoin made highs of $20,396 before selling off to lows of $19,500 and later recovered some of the losses to close the day at $19,829. The cryptocurrency rejected the 20-day moving average yesterday after briefly breaking above it which is a sign of weakness. Bitcoin was trading at $19,798 during the early Asian hours at the time of writing.
Immediate support for Bitcoin on the downside is at $19,000 levels while on the upside resistance is at $20,500 levels.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The global market remained in a slight risk-on sentiment yesterday. The broader crypto market followed the global market but alternative cryptocurrencies faced some downward pressure and the global crypto market cap declined by 1.59% to $985.42B.
Bitcoin made highs of $22,545 before selling off to lows of $19,625 and later recovered all the losses close the day near the 20-day moving average at $20,210. Bitcoin was trading at $20,058 during the early Asian hours at the time of writing. Ethereum merge and US Retail Sales and Initial Jobless Claims will be in focus today which may the markets.
Immediate support for Bitcoin on the downside is at $18,500 levels while, on the upside resistance is at $21,800 levels.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment dominated the global financial markets yesterday as US Inflation data came higher than expected. U.S. core consumer prices increased 0.6% MoM in August, showing that inflation pressures remained strong and stubborn. The crypto market followed the global financial market and declined by 5.90% to $1.00T.
Bitcoin made highs of $22,800 before aggressively selling off on US Inflation data and made lows of $19,855 and later consolidated losses to close the day at $20,135. The cryptocurrency closed below the 20-day moving average yesterday which is a sign of weakness. Bitcoin was trading at $20,382 during the early Asian hours at the time of writing. US PPI data will be in focus today which may move the markets.
Immediate support for Bitcoin on the downside is at $18,500 levels while, on the upside resistance is at $21,800 levels.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Global markets continued to climb as markets anticipated a lower US inflation reading due later today, suggesting a deceleration in the US Fed’s aggressive tightening of the economy. Bitcoin was the major gainer among the major cryptocurrencies as major altcoins traded flat or lower.
Bitcoin saw bids at every dip yesterday as the cryptocurrency moved from lows of $21,550 to highs of $22,500, closing around the high. Bitcoin was trading slightly lower at $22,200 at the time of publication.
Near-term resistance remains at $22,700 above which we could see a move towards $25,000. Support level remains at $20,750.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Global markets rebounded and the US Dollar cooled off as risk-on sentiment engulfed the markets to close the previous week. Crypto markets joined in the rally with Bitcoin leading the way. Markets await the US CPI data due for release tomorrow with a fall expected in the headline number.
Bitcoin was bid up from lows of $19,300 on Friday before making highs of $21,850 over the weekend. The apex cryptocurrency made highs of $22,350 as global markets opened for the week before consolidating to $21,800 at the time of publication.
Near-term price action appears bullish. Immediate resistance is at $22,700 above which we could see the $25,000 level. $20,750 is the closest support.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major coins rallied yesterday as the global cryptocurrency market cap rose 3.79% to $1.02 trillion. Risk assets, including cryptocurrencies, were on a surge as markets witnessed a risk on move.
Bitcoin made lows of $19,023 yesterday before rallying to highs of $19,862 and closed the day at $19,942. The cryptocurrency continued to rally in the early Asian hours and easily breached $20,000, gaining pace over $20,500. The cryptocurrency was trading at $20,412 at the time of writing.
Immediate support on the downside for Bitcoin is at $18,500 while, on the upside resistance is at $21,400.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major coins rallied yesterday as the global cryptocurrency market cap rose 2.95% to $974.2 billion. Risk assets, including cryptocurrencies, were on a surge as markets recovered earlier losses and dollar weakened.
Bitcoin made lows of $18,677 earlier in the day before rallying to highs of $19,456 and later consolidated some of the gains to close the day at $19,217. There were few failed attempts to break below $18,600, sparking a upside reaction above the key $19,000 zone. The cryptocurrency was trading at $19,319 at the time of writing.
Immediate support on the downside for Bitcoin is at $18,500 while, on the upside resistance is at $20,300
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major coins dropped sharply yesterday as the global cryptocurrency market cap declined 4.2% to $948 billion. Risk assets, including cryptocurrencies, were under pressure yesterday after a slew of positive financial data sent U.S. Treasury yields soaring.
Bitcoin made highs of $20,022 earlier in the day before plunging to lows of $18,540 and later recovered some of the losses to close the day at $18,749. There were many failed attempts to break above $20,000, sparking a downside reaction below the key $19,500 support zone. The cryptocurrency and was trading at $18,717 at the time of writing.
Immediate support on the downside for Bitcoin is at $18,500 while, on the upside resistance is at $20,300.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volumes remained muted yesterday in the crypto markets. Bitcoin declined in the last 24 hours, but the global crypto market cap has increased by 0.82% to $989.02B which is a sign of strength in the alternative cryptocurrencies.
Bitcoin made highs of $20,060 earlier in the day before selling off to lows of $19,633 and later recovered some of the losses to close the day at $19,749. The cryptocurrency broke above highs of the yesterday during the early Asian hours and made highs of $20,179 and was trading at $19,762 at the time of writing. US ISM Non-Manufacturing PMI will be in focus today which may move the markets today.
Immediate support on the downside for Bitcoin is at $19,300 while, on the upside resistance is at $20,300.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility continued to decline in the crypto markets during the weekend as the market traded in a small range during the weekend. The global crypto market cap was $982.10B at the time of writing.
Bitcoin made highs of $20,053 before selling off to lows of $19,588 and later recovered some of the losses to close the weekend at $19,861. The cryptocurrency retested highs of the weekend during the early Asian hours and made highs of $20,060 and was trading at $19,883 at the time of writing. OPEC meeting will be in focus today which may move the markets today.
Immediate support on the downside for Bitcoin is at $19,300 while, on the upside resistance is at $20,300.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility continued to decline in the crypto markets during the weekend as the market traded in a small range during the weekend. The global crypto market cap was $982.10B at the time of writing.
Bitcoin made highs of $20,053 before selling off to lows of $19,588 and later recovered some of the losses to close the weekend at $19,861. The cryptocurrency retested highs of the weekend during the early Asian hours and made highs of $20,060 and was trading at $19,883 at the time of writing. OPEC meeting will be in focus today which may move the markets today.
Immediate support on the downside for Bitcoin is at $19,300 while, on the upside resistance is at $20,300.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
For the second straight day crypto markets traded in a range as markets continue to await the US Non-Farm Payroll data due later today. The datapoint is critical as the ongoing strength of the labor market has been key in the Fed’s commitment to tighten the economy.
Bitcoin made lows of $19,550 before recovering yet again to close the day above $20,000. The cryptocurrency was trading at $20,200 at the time of publication. Bitcoin has mostly traded between $19,500 and $20,500 this week; market participants await a breakout.
Immediate support remains at $19,500. A move below could see another test of the 2022 lows of around $17,500. On the upside, the $22,000 handle remains am important resistance level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies traded in a range for most of yesterday as markets look towards major data points due for release today and tomorrow to challenge or encourage Fed chair Powell’s latest commitment to fight inflation at all costs. The US ISM Manufacturing PMI is due for release today, while the all-important Non-Farm Payroll data is expected tomorrow.
Bitcoin traded in a narrow range between $20,500 and $19,800 yesterday, closing the day just above $20,000. The cryptocurrency was trading at $20,100 at the time of publication.
Immediate support remains at $19,500. A move below could see another test of the 2022 lows of around $17,500. On the upside, the $22,000 level in an important resistance for Bitcoin.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets traded higher for most of yesterday before a risk-off selloff across global markets impacted crypto as well. A highly positive consumer confidence data in the US triggered the selloff as market participants continued to bet on accelerated hiking by the Fed. Markets now await the Non-Farm Payroll data expected on Friday.
Bitcoin made highs of $20,580 before going below the $20,000 handle. The cryptocurrency made lows of $19,550, closing the day at $19,800. Bitcoin was in the green early today as the crypto reclaimed the $20,000 level, trading at $20,400 at the time of publication.
Immediate support remains at $19,500 for today as well. On the upside we may see some selling at the $22,000 handle.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies traded in the green yesterday as the global cryptocurrency market cap rose 4.2% to $985.55 billion. Bitcoin is showing some resilience here as it has clawed back above the $20,000 level, despite widespread stock market weakness. Similarly, most major altcoins are attempting a recovery wave.
Bitcoin was mainly bid throughout the day yesterday and recovered from the $19,500 zone and is now still fluctuating above the $20,000 level. It is currently consolidating near $20,300 and facing resistance near $20,500. A clear move above the $20,500 zone might push the price further higher towards $21,800. The cryptocurrency was trading at $20,450 at the time of writing.
Immediate support remains at $19,500 for today, while on the upside we may see some selling at $21,800.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies traded in negative territory over the weekend as the global cryptocurrency market cap fell 2.4% to $944.4 billion. The selloff was triggered after U.S. Federal Reserve Chair Jerome Powell’s speech at the annual Jackson Hole Symposium. Powell said, “Reducing inflation is likely to require a sustained period of below trend growth” — adding, “the role of the Federal Reserve keeping at it until the job is done.”
Bitcoin price failed to recover above the $22,000 resistance and started a fresh decline below the $21,200 and $21,000 support levels. The bears gained strength for a push below $20,000. The cryptocurrency made lows of $19,526 and the price is now consolidating losses. The cryptocurrency was trading at $19,800 at the time of publication.
Immediate support remains at $19,500 below which we may see buyers at the $18,800 level. On the upside, we may see sellers emerging at $22,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The crypto market traded inside the previous day’s range yesterday. The crypto markets remained relatively weaker than equities yesterday. The global crypto market cap was $1.04T at the time of writing.
Bitcoin made lows of $21,307 before rallying to highs of $21,818 and later gave back most of the gains made during the day to close the day at $21,583. The cryptocurrency was trading slightly lower at $21,541 during the early Asian hours at the time of writing. US Core PCE Price Index and Fed Chair Powell’s speech at the Jackson Hole symposium will be in focus today which may move the markets.
Immediate support for the cryptocurrency is at $20,750 while, on the upside resistance is at $22,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility continued to contract in the crypto market as the market continued to trade in a range. The crypto market was relatively weaker than equities yesterday. The global crypto market cap was $1.03T at the time of writing.
Bitcoin made lows of $21,147 before rallying to highs of $21,925 and later gave back most of the gains made during the day to close the day at $21,591. The cryptocurrency was trading slightly lower at $21,457 during the early Asian hours at the time of writing. US GDP, Initial Jobless Claims data and the Jackson Hole symposium will be in focus today which may move the markets.
Immediate support for the cryptocurrency is at $20,750 while, on the upside resistance is at $22,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The crypto market remained resilient yesterday despite the slight risk-off move in the global financial markets. The crypto market gave back all the gains made yesterday during the early Asian hours as it faced selling pressure due to weak Asia open. The global crypto market cap was $1.02T at the time of writing.
Bitcoin made lows of $20,889 before rallying to highs of $21,679 and later consolidated gains to close the day at $21,487. The cryptocurrency gave back all the gains of yesterday and was trading lower at $21,278 during the early Asian hours at the time of writing. US Core Durable Good Orders and Pending Home Sales data will be in focus today which may move the markets today.
Immediate support for the cryptocurrency is at $20,750 while, on the upside resistance is at $21,700.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets continued to be offered yesterday as global markets opened weaker to start the week. Markets await guidance on the ongoing economic uncertainty from Fed chair Powell when he takes the stage at Jackson Hole later this week.
Bitcoin traded in a narrow range as downside momentum paused. Bitcoin briefly traded below $21,000 before recovering to close the day at $21,400. The cryptocurrency was trading at $21,250 at the time of publication.
Immediate support remains at $20,750 for today as well, while on the upside we may see some selling at $22,500.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets nosedived on Friday as economic uncertainty gripped global markets. Producer prices increased by a record in Germany adding to the woes of the largest economy in the European Union. The US Dollar continued to strengthen, and equities traded lower as the market mood remained risk-off.
Bitcoin sold off from Friday opening level – $23,200 to lows of $20,750 before attempting to recover over the weekend. The cryptocurrency was trading at $21,400 at the time of publication.
Immediate support remains at $20,750 below which we may see buyers at the $20,000 level. On the upside, we may see sellers emerging at $22,500.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies traded in negative territory yesterday as the global cryptocurrency market cap fell 1.3% to $1.1 trillion. Bitcoin is officially on vacation. Despite decent moves with the dollar and Treasury yields, Bitcoin remains anchored between $22,000 and $25,000 and it seems a major move might have to wait until we have a firm handle with market expectations for the September FOMC meeting.
Bitcoin continued to be offered. The cryptocurrency made highs of $23,593 before selling off to lows of $22,718 and later consolidated losses to close the day at $22,774. Bitcoin was trading flat at $22,789 during the early Asian hours at the time of writing.
Next support for the cryptocurrency is at $22,500 and on the upside, resistance is at psychologically important levels of $25,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies traded in negative territory yesterday as the global cryptocurrency market cap fell 3.09% to $1.12 trillion. Cryptocurrencies plunged after minutes from the July policy meeting of the U.S. Federal Reserve indicated that the central bank would maintain its hawkish course until inflation decreases significantly. FOMC participants judged that “moving to a restrictive stance of policy was required to meet the Committee’s legislative mandate to promote maximum employment and price stability.”
Bitcoin was mostly offered yesterday. The cryptocurrency made highs of $24,448 before selling off to lows of $23,176 and later consolidated losses to close the day at $23,443. Bitcoin was trading flat at $24,450 during the early Asian hours at the time of writing.
Next support for the cryptocurrency is at $22,600 and on the upside, resistance is at psychologically important levels of $25,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies traded in negative territory yesterday as the global cryptocurrency market cap fell 0.7% to $1.14 trillion. Among the two top coins, Ethereum is “acting significantly stronger” than Bitcoin on account of the upcoming Merge — the shift of Ethereum from a proof-of-work to a proof-of-stake network. The amount of staked Ethereum rose to a new all-time high of 13.29 million ETH across 415,314 validators as of August 16.
Bitcoin traded in a small range yesterday. The cryptocurrency made highs of $24,153 before selling off to lows of $23,673 and later consolidated losses to close the day at $24,012. Bitcoin was trading higher at $24,142 during the early Asian hours at the time of writing.
Next support for the cryptocurrency is at $23,200 and on the upside, resistance is at psychologically important levels of $25,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH, and DOT
The crypto market was relatively weak compared to equities yesterday as Bitcoin and Ether were rejected from key resistance levels. The global crypto market cap declined by 3.09% to $1.15T. The People’s Bank of China cut its rate on a one-year loan to 2.75% from 2.85% in a surprise move yesterday to revive demand as data showed the economy unexpectedly slowing in July.
Bitcoin faced a strong resistance near $25,000 levels. The cryptocurrency made highs of $25,214 earlier in the day before selling off to lows of $23,881 and later consolidated losses to close the day at $24,034. Bitcoin broke the lows of yesterday and made lows of $23,777 earlier today and was trading higher at $24,123 during the early Asian hours at the time of writing. US Building Permits data will be in focus today which may move the markets today.
Next support for the cryptocurrency is at $23,200 and on the upside, resistance is at psychologically important levels of $25,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The rally in major coins simmered down yesterday as the global cryptocurrency market cap rose marginally by 0.3% to $1.1 trillion. Cryptocurrencies appear to be following stocks in shedding gains racked during the recent broader risk-on rally. Ethereum saw a more robust surge in prices compared to Bitcoin recently as FOMO built up around the upcoming merge.
Bitcoin price gained pace after there was a clear move above the $24,000 resistance. The cryptocurrency topped near $25,000 levels making highs of $24,921 and started a downside correction. There was a move below the $24,000 support level making lows of $23,782. The cryptocurrency was trading at $24,012 during the early Asian hours at the time of writing.
Immediate support for Bitcoin is at $22,000 and the next resistance on the upside is at $25,000. If Bitcoin closes above resistance levels of $25,000 it might move swiftly towards $28,500 levels. Short-term bias is bullish for Bitcoin.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major coins rallied on Wednesday after July consumer price index data indicated a slowdown in inflation. The crypto market was dominated by bulls yesterday. Volumes across the crypto market were elevated yesterday as major cryptocurrencies breached strong resistance levels. The global crypto market cap increased by 6.65% to $1.15T.
Bitcoin made lows of $22,838 earlier in the day before rallying to highs of $24,491 and later gave back some of the gains to close the day at $24,338. The cryptocurrency closed above the 55-day exponential moving average yesterday which is a bullish indication. The cryptocurrency was trading at $24,445 during the early Asian hours at the time of writing.
Immediate support for Bitcoin is at $23,000 and the next resistance on the upside is at $24,600. If Bitcoin closes above resistance levels of $24,600 it might move swiftly towards $28,500 levels. Short-term bias is bullish for Bitcoin.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The crypto market was dominated by bears yesterday. The crypto market showed relative weakness yesterday compared to equities. Volumes across the crypto market were elevated yesterday as major cryptocurrencies sold off aggressively. The global crypto market cap decreased by 3.79% to $1.09T.
Bitcoin made highs of $23,927 earlier in the day before selling off to lows of $22,668 and later recovered some of the losses to close the day at $23,931. The cryptocurrency was trading at $23,960 during the early Asian hours at the time of writing.
Immediate support for Bitcoin is at $22,000 and the next resistance on the upside is at $24,600. If Bitcoin closes above resistance levels of $24,600 it might move swiftly towards $28,500 levels. Short-term bias is bullish for Bitcoin.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The crypto market was dominated by bulls yesterday. The crypto market showed relative strength yesterday compared to equities. Volumes across the crypto market were elevated yesterday as major cryptocurrencies breached strong resistance levels. The global crypto market cap increased by 1.90% to $1.13T.
Bitcoin made lows of $23,063 earlier in the day before rallying to highs of $24,251 and later gave back some of the gains to close the day at $23,853. The cryptocurrency closed above the 55-day exponential moving average yesterday which is a bullish indication. The cryptocurrency was trading at $23,835 during the early Asian hours at the time of writing.
Immediate support for Bitcoin is at $23,000 and the next resistance on the upside is at $24,600. If Bitcoin closes above resistance levels of $24,600 it might move swiftly towards $28,500 levels. Short-term bias is bullish for Bitcoin.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The crypto market traded in a small range during the weekend. Volumes remained muted over the weekend amid low trading activity. The global crypto market cap increased by 1.68% to $1.10T.
Bitcoin over the weekend traded inside the trading range of Friday. The cryptocurrency over the weekend made lows of $22,852 before rallying to highs of $23,405 and later closed the weekend at $23,314. Bitcoin was trading slightly lower at $23,296 during the early Asian hours at the time of writing. The cryptocurrency might continue to consolidate near the 20-day moving average before the resumption of any trend. The support for Bitcoin is at $22,000 and on the upside, resistance is at $24,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The broader crypto markets consolidated close to the 20-day moving average yesterday. Altcoins have recently shown strength, but large capitalization cryptocurrencies have remained weak. The global crypto market cap was $1.08T at the time of writing.
Bitcoin made highs of $23,281 earlier in the day before selling off to lows of $22,392 and later consolidated losses to close the day at $22,497. The cryptocurrency regained losses from yesterday and was trading higher at $23,096 during the early Asian hours at the time of writing. Bitcoin closed below the 20-day moving average yesterday but was trading above it during the early Asian hours. US Nonfarm Payrolls and Unemployment rate will be in focus and may move the markets today.
The support for Bitcoin is at $22,000 and on the upside, resistance is at $24,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility remained elevated in the global financial markets yesterday. The crypto markets remained weak relative to the equities market yesterday. The global crypto market cap was $1.08T at the time of writing.
Bitcoin had elevated volumes yesterday amid volatility in the crypto market. The cryptocurrency made lows of $22,694 before rallying to highs of $23,650 where it faced selling pressure and later closed the day at $23,274. Bitcoin made lows of $22,727 earlier today and was trading higher at $23,123 during the early Asian hours at the time of writing. The apex cryptocurrency is trading near the 20-day moving average and current price action suggests consolidation might continue before the resumption of any trend. US Initial Jobless Claims data will be in focus and may move markets today.
The support for Bitcoin is at $22,000 and on the upside, resistance is at $24,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment dominated the global financial markets yesterday. The crypto market in alignment with the global financial market was dominated by the bears yesterday. Global crypto market cap was $1.06T at the time of writing.
Trading volume continued to remain below the 20-day average for Bitcoin yesterday. The apex cryptocurrency made highs of $23,464 before selling off to lows of $22,662 and later recovered to highs of $23,464 where it faced selling pressure and closed the day lower at $22,989. Bitcoin was trading at $22,809 during the early Asian hours at the time of writing. US ISM Non-Manufacturing data will be in focus and may move markets today. The next support for Bitcoin is at $22,000 and on the upside, resistance is at $24,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major coins traded in negative territory yesterday as the global cryptocurrency market cap dropped 3.81% to $1.05 trillion at the time of writing. The beginning of August has lacked the exuberance witnessed in the last week of July. Crypto-currencies continued to be aligned with stocks.
Bitcoin was offered throughout the day yesterday and breached the $23,000 support level. The cryptocurrency traded from highs of $23,511 to lows of $22,762. The cryptocurrency was trading at $22,902 at the time of publication. The apex coin looks bullish but might decline towards $21,000 if it fails to stay above $22,500 today.
On the upside we may see a move towards $25,000. Downsides in the near term may be limited to $ 22,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ether and other major coins rallied on Thursday as the global cryptocurrency market cap increased by 2.6% to $1.04 trillion. The divergence between Bitcoin and Ethereum was in play on Thursday. The European Central Bank (ECB) raised interest rates (by 50 bps) in the eurozone for the first time in 11 years, as high and rising inflation becomes central bankers’ primary concern.
After a clear move below $23,000, bitcoin price extended losses. Bitcoin made swing lows of $22,340 before rallying back towards $23,000 making highs of $23,349. The cryptocurrency was trading at $22,950 at the time of writing.
Support for Bitcoin is now at $21,700 while an immediate resistance is near the $24,000 level. The next major resistance could be $24,500, above which the price could rise towards the $25,000 level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ether and other major coins sold off on Wednesday as the global cryptocurrency market cap decreased by 3.4% to $1.02 trillion. Bitcoin increased its volatility as Tesla said it sold 75% of its BTC holdings, or $936m worth of bitcoin, in the second quarter, in an attempt to raise cash.
After a clear move above $23,500, bitcoin price extended gains. Bitcoin was able to spike above the $24,000 level. However, the bears were active near the $24,200 level and pushed the price below $23,000. The cryptocurrency was trading at $22,890 at the time of writing.
Support for Bitcoin is now at $21,700 while an immediate resistance is near the $24,000 level. The next major resistance could be $24,500, above which the price could rise towards the $25,000 level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ethereum and other major coins rallied on Tuesday as the global cryptocurrency market cap increased by 2.1% to $1.06 trillion. Cryptocurrencies mirrored stocks on Tuesday. The S&P 500 and Nasdaq ended the day 2.8% and 3.1% higher, respectively.
Bitcoin price remained well bid above the USD 22,000 and was able to spike above the USD 23,000 resistance. After a downside correction, bitcoin price started a fresh increase above the USD 22,500 resistance. BTC even spiked above USD 23,600 and was consolidating gains and trading at USD 23,350 at the time of writing.
Support for Bitcoin is now at $21,700 while an immediate resistance is near the USD 23,500 level. The next major resistance could be USD 24,000, above which the price could rise towards the USD 25,000 level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets made new swing highs as altcoins continued to make solid gains. Bitcoin moved up with the rest of the market albeit making smaller gains in comparison.
Bitcoin made highs of $22,750 yesterday, closing the day at $22,500 capping a solid green candle. The apex cryptocurrency made new swing highs of $22,960 early today before consolidating to $22,100 at the time of publication.
Support for Bitcoin is now at $21,700 while on the upside we could see a move towards $24,500.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets moved up over the weekend with massive gains in altcoins while Bitcoin also remained bid. The US retails sales came out stronger than expected on Friday but weren’t strong enough as markets shrugged off concerns over a 100 bp hike in the Fed funds rate later this month.
Bitcoin made highs of $21,650 over the weekend as the apex cryptocurrency comfortably traded above $20,000. Dips were limited to $20,500 as price action circled around the $21,000 level. The cryptocurrency was trading at $21,300 at the time of publication.
Bitcoin should be supported at the $20,000 level today. On the upside we may see a move above the $22,000 handle.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bulls dominated the crypto market on Thursday as top cryptocurrencies managed to close above the 20-day moving average which is a sign of strength in the market. The global crypto market cap increased by 3.16% to $929.28B.
Volumes remained elevated on Thursday as Bitcoin traded near psychologically important levels of $20,000 and the 20-day moving average. The cryptocurrency made lows of $19,607 before rallying to highs of $20,893 and later gave back some of the gains to close the day at $20,461. Bitcoin was trading higher at $20,635 during the early Asian hours at the time of writing. US Retail Sales data will be a key focus for the day which may move the markets today. The next resistance on the upside is at $22,000, while on the downside support is at $19,600.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment continued to dominate the global financial markets on Wednesday as US inflation roared again to a fresh four-decade high last month. The crypto market showed strong relative strength compared to equities as the market recovered after declining on US CPI data release. The global crypto market cap increased by 3.47% to $900.27B.
Bitcoin had a highly volatile day on Wednesday. The apex cryptocurrency made highs of $20,094 before aggressively selling off to lows of $18,892 and later recovered all the losses due to strong short covering and closed the day higher at $19,912. Bitcoin was trading higher at $20,267 during the early Asian hours at the time of writing. US Initial Jobless Claims data will be a key focus for the day which may move the markets today.
The next resistance on the upside is at $21,000, while on the downside support is at $19,600.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment continued to dominate the global financial markets on Tuesday. The crypto market declined for the 3rd day in a row on Tuesday. The global crypto market cap declined by 1.71% to $871.67B.
Bitcoin was offered throughout the day as it faced strong selling pressure after breaking psychologically important levels of $20,000. The cryptocurrency made highs of $20,220 before aggressively selling off to lows of $19,258 and later consolidated near day low to close the day at $19,303. Bitcoin was trading at $19,494 during the early Asian hours at the time of writing. US CPI data will be a key focus for the day which may move the markets today.
The next support on the downside is at $18,600, while on the upside we could see some resistance around $20,200.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk off sentiment dominated the global financial markets on Monday. Crypto market participated in the broad market selloff and the global crypto market cap decreased by 2.69% to $889.5B. Another bear-market rally has come and gone, and we now head into earnings season and the U.S. inflation data midweek is a standout, as investors cross their fingers for signs of decelerating prices.
Bitcoin breached the crucial level of $20,000. After a clear move below the $21,200 support, bitcoin price extended its losses below the $20,000 level to move into a bearish zone. The cryptocurrency traded from highs of $20,750 to lows of $19,776. Bitcoin was trading below the 100-hour moving average and at $19,972 at the time of publication.
Support on the downside is at $19,000, while on the upside we could see some resistance around $22,500.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ethereum and other major coins sold off over the weekend as the global cryptocurrency market cap decreased by 2.52% to $916.58 billion. Volume and volatility were mostly muted over the weekend. June CPI data, to be released on Wednesday, would be the key driver for markets this week.
Bitcoin trimmed gains and declined below $21,000 levels over the weekend. The cryptocurrency made highs of $22,111 before selling off to lows of $20,445 and later came lower to close the weekend at $20,498. The cryptocurrency was trading at $20,488 at the time of publication. The cryptocurrency looks bullish as it is finding a decent support at $20,500 but if the cryptocurrency breaches $20,000, we could see a move towards $18,000.
Support on the downside is at $20,000, while on the upside we could see a move towards $24,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets gained for the fifth consecutive day as Bitcoin broke above the key $21,000 level. Markets await the Non-Farm Payroll data expected to release today. A strong number indicating a resilient labor market would strengthen the Fed’s stance to fight inflation.
Bitcoin closed above key a Fibonacci level as well as the 20-day moving average at around $21,000. The cryptocurrency also broke the $22,000 level early today, trading to highs of $22,500 before consolidating. Bitcoin was trading at $22,000 at the time of publication.
Bullish momentum has returned for Bitcoin and market participants may look to buy on dips to target $25,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets continued to be bid yesterday following global equities in a risk-on move. The FOMC minutes reaffirmed the Central Bank’s stance to control inflation at all costs and seemed to indicate another 50 to 75 basis point increase in the next policy meeting later this month.
Bitcoin was bid up from lows of $19,750 to highs of $20,650, closing the day at $20,550. Alts saw more action as Bitcoin appeared to be stuck. The apex cryptocurrency was trading lower at $20,400 at the time of publication.
Bitcoin appeared to lose momentum as it attempted to break the $21,000 handle again. A clear break of the level may see further bids.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets closed flat yesterday in a day of volatile trading. After a strong recovery to open the week on Monday, markets were dragged down by a strong US Dollar. Risk sentiment improved late in the day as markets recovered. Traders await the release of the minutes from the last FOMC later today.
Bitcoin made highs of $20,750 before selling off to $19,250 yesterday. The cryptocurrency reclaimed the $20,000 handle, closing the day at $20,250. Bitcoin was trading lower at $19,900 at the time of publication.
The apex cryptocurrency should be supported at $19,000, while on the upside we can expect a test of the $22,000 handle.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Risk-on sentiment dominated the global financial markets on Monday as a US media report said Biden may roll back China tariffs soon. Crypto market participated in the broad market rally and the global crypto market cap increased by 5.09% to $907.98B
Bitcoin made lows of $19,029 before rallying to highs of $20,095 and later consolidated gains to close the day at $19,930. The cryptocurrency was trading higher at $20,148 during the early Asian hours at the time of publication. Bitcoin is trading near the 20-day moving average and close above this level will be a strong bullish indication for the cryptocurrency.
Support on the downside is at $19,000, while on the upside we could see a move towards $21,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets traded in a very small range during the weekend. Volumes remained low which suggests limited trading activity over the weekend. The global crypto market cap is $865.09B at the time of publication.
Bitcoin made lows of $18,755 before rallying to highs of $19,622 and later came lower to close the weekend at $19,291. The cryptocurrency was trading at $19,102 at the time of publication. Crypto markets may continue to trade in the range today as US markets are closed today.
Support on the downside is at $18,500, while on the upside we could see a move towards $20,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets sold off for the fifth straight day before staging a recovery late yesterday. Upside momentum failed early today with markets consolidating again as Asia opened.
Bitcoin fell to $18,600 yesterday before aggressive bids late in the day took the cryptocurrency to highs of $20,850. The apex cryptocurrency then whipsawed to trade at $19,500 at the time of publication.
Support on the downside is now at $17,500, while on the upside we could see a move towards $22,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets fell for the fourth consecutive day yesterday as bearish momentum strengthened in the markets. The NASDAQ sold off and the US Dollar index continued to rise as risk-off sentiment engulfed global markets.
Bitcoin was comparatively stronger than its altcoin peers yesterday with downside being limited for the apex cryptocurrency. It briefly traded below $20,000, making lows of $19,800 before quickly bouncing back above the $20,000 handle. Bitcoin closed the day at $20,100 and was trading flat at the time of publication.
Important levels to watch for Bitcoin remain $20,000 on the downside, which was briefly broken yesterday, and then the 2022 low $17,500. On the upside, the $22,000 level is the nearest resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets failed to sustain any upside momentum yesterday and fell in sync with the global equity markets as the US Dollar regained strength. Major central bankers are slated to speak today at the European Central Bank’s Forum on Central Banking in Portugal.
Bitcoin again failed to hold above $21,000 as the cryptocurrency sold off from highs of $21,200 to close the day at $20,250. The cryptocurrency was trading flat at the time of publication.
Bearish momentum seems to have returned to the markets. Major levels to watch for Bitcoin remain $20,000 on the downside, below which we have $17,500. On the upside, the $22,000 level is yet to be broken in this move.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets were rangebound on Monday as global markets opened for the week. Markets await statements from major central bankers on Wednesday at the European Central Bank’s Forum on Central Banking with Christine Lagarde, Andrew Bailey and Jerome Powell expected to speak.
Bitcoin was unable to break the weekend highs of $21,850, consolidating from $21,500 to close the day around $20,750. Volumes remain muted as the cryptocurrency traded in a range for the fourth straight day.
Bitcoin was trading flat at the time of publication. Important levels to watch are $22,500 on the upside, while the support at the $20,000 handle remains intact.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The cryptocurrency markets witnessed muted volumes owing to the weekend. Bitcoin is still not matching the gains seen with equities as sentiment remains depressed. The selling pressure might be easing, but strong buyers are not yet emerging. The global crypto market cap increased by 2.06% to $953.82B over the weekend.
Bitcoin was rangebound throughout the weekend. The cryptocurrency made highs of $21,868 before declining to lows of $20,920 and later consolidated gains to close the day at $20,060. Bitcoin was trading at $21,230 during the early Asian hours at the time of writing. Immediate resistance for the cryptocurrency is at $22,500 and on the downside, $20,000 is the support.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility continued to contract in the crypto market as the market participated in a broad risk-on rally across asset classes on Thursday. The global crypto market cap increased by 4.28% to $934.85B.
Bitcoin was bid throughout the day. The cryptocurrency made lows of $19,869 before rallying to highs of $21,099 and later consolidated gains to close the day at $21,104. Bitcoin was trading at $21,037 during the early Asian hours at the time of writing. US New Home Sales data will be a key focus for the day which may move the markets. Immediate resistance for the cryptocurrency is at $22,300 and on the downside, $20,000 is the support.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bears dominated the crypto markets on Wednesday. The global crypto market cap decreased by 0.50% to $898.84B. The crypto market may consolidate for some time as leading cryptocurrencies Bitcoin and Ether are trading near psychologically important levels of $20,000 and $1,000 respectively.
Bitcoin made highs of $20,985 before selling off to lows of $19,751 and later consolidated losses to close the day at $19,968. The cryptocurrency was trading at $20,285 during the early Asian hours at the time of writing. US Initial Jobless Claims will be a key focus for the day which may move the markets today. Immediate support for the cryptocurrency is at $19,000 and on the upside, $21,350 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility continued to contract in crypto markets on Tuesday. S&P 500 was up 2.45% on Tuesday but crypto markets showed relative weakness compared to Equities as Bitcoin went up by only 0.72%.
Bitcoin rallied from lows of $20,328 to highs of $21,711 before selling off to give back most of the gains to close the day at $20,696. The cryptocurrency was trading at $20,487 during the early Asian hours at the time of writing. Fed Chair Jerome Powell is set to testify on the economic outlook and monetary policy which will be the key focus for the day and may move the markets today. Immediate support for the cryptocurrency is at a psychologically important level of $20,000 and on the upside, $21,750 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Volatility contracted on Monday in crypto markets as trading activity was lower due to the US holiday. Crypto markets have recently bounced back from lows and current momentum suggests the market may retrace to higher resistance levels in the short term.
Bitcoin initially made lows of $19,603 before rallying to highs of $21,041 where it faced resistance and later came lower to close the day at $20,549. Bitcoin was trading at $20,775 during the early Asian hours at the time of writing. US Existing home sales data will be a key focus for the day which may move the markets today.
Immediate support for the cryptocurrency is at a psychologically important level of $20,000 and on the upside, $22,600 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ethereum and other major coins plunged over the weekend as the global cryptocurrency market cap decreased by 3.4% to $871.76 billion. Fears of an impending recession continue to add battering risk assets on Friday with both cryptocurrencies and stocks diving into the red.
Bitcoin was plunged below crucial $20,000 over the weekend. The cryptocurrency made highs of $21,325 before selling off to lows of $17,592 and recovered sharply towards $20,000. The cryptocurrency was consolidating and was trading slightly higher at $19,994 at the time of writing.
Immediate support for the cryptocurrency is at a psychologically important level of $17,000 and on the upside, $26,500 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ethereum and other major coins plunged on Thursday as the global cryptocurrency market cap decreased by 8.4% to $882 billion. Fears of impending recession-battered risk assets on Thursday with both cryptocurrencies and stocks diving into the red. The Swiss National Bank unexpectedly raised rates for the first time since 2007 on Thursday. The central bank raised its policy rate from negative 0.75% to negative 0.25%. Bank of England also raised interest rates by a quarter of a percentage point, although the rate hike was in line with expectations.
Bitcoin was offered throughout the day on Thursday. The cryptocurrency made highs of $22,231 before selling off to lows of $20,220 and later consolidated losses to close the day at $20,540. Bitcoin was trading slightly higher at $20,784 at the time of writing.
Immediate support for the cryptocurrency is at a psychologically important level of $20,000 and on the upside, $26,500 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ethereum and other major coins rallied on Wednesday as the global cryptocurrency market cap rose 4% to $974 billion. The U.S. Federal Reserve made the sharpest interest rate hike in 28 years. The Fed raised the target Fed funds rate by 0.75% to between 1.5% and 1.75% on Wednesday, noting that inflation remained elevated. The U.S. central bank released new “dot plot” economic forecasts, according to which, all 18 of its members are projecting interest rates will touch 3% by end of 2022.
Bitcoin was offered in the first half of the day on Wednesday. The cryptocurrency made lows of $20,079 before rallying off to highs of $22,957 and later consolidated gains to close the day at $22,555. Bitcoin was trading slightly lower at $21,900 at the time of writing.
Immediate support for the cryptocurrency is at a psychologically important level of $20,000 and on the upside, $26,500 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The major cryptocurrency consolidated on Tuesday after plunging earlier this week as jittery investors sold off ahead of a key U.S. Federal Reserve meeting. Equity markets also arrested their rapid slide, but the rebound was limited. The S&P 500 ended the day 0.4% lower while the Nasdaq closed 0.2% higher. The market is expecting a steep rate hike on Wednesday. The U.S. dollar index rose as high as 105.46 on Tuesday, a level not seen since December 2002. Fears surrounding the viability of major industry players, especially in decentralized finance, continued to add to the bearish pressure.
Bitcoin consolidated losses on Monday. The cryptocurrency rallied in the early morning session making highs of $23,288 before consolidating and selling off to lows of $21,387 and closed the day at $21,406. Bitcoin was trading slightly lower at $20,750, making a new local bottom, at the time of writing. The cryptocurrency is trading near the lows of December 2020 levels and below the 100 hourly moving average.
Immediate support for the cryptocurrency is at a psychologically important level of $20,000 and on the upside, $26,500 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin, Ethereum and other major coins nosedived on Monday as the global cryptocurrency market cap fell below the psychologically important $1 trillion mark to $922.39 billion — a decline of nearly 14.5% intraday. There are expectations the U.S. Federal Reserve will be more aggressive with rate hikes than expected and the market expects a 90.9% probability that rate hikes will be by 75 basis point.
Bitcoin was offered throughout the day on Monday. The cryptocurrency made highs of $26,845 before selling off to lows of $20,830 and later consolidated losses to close the day at $21,840. Bitcoin was trading slightly upper at $22,480 at the time of writing. The cryptocurrency is trading near the lows of December 2020 levels and below the 100 hourly moving average.
Immediate support for the cryptocurrency is at a psychologically important level of $20,000 and on the upside, $26,500 is the resistance.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Headline CPI in March rose by 8.5% from a year ago, the fastest annual gain since December 1981, markets reacted positively to the data as core price pressures finally appear to be moderating. Crypto markets had a counter-trend day on Tuesday as the crypto market bounced back from the lows. The global crypto market cap increased by 2.05% to $1.87T. Volatility slightly reduced in Bitcoin as the cryptocurrencies traded inside the previous day’s range on Tuesday.
Bitcoin made lows of $39,250 before rallying to make highs of $40,705 and later gave back more than 50% of the gains to close the day at $40,086. The cryptocurrency was trading at $40,071 at the time of writing.
US Core PPI data is set to release today which may move the markets. Immediate support for Bitcoin is at $37,750 while on the upside $42,000 is the resistance level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Strong selling pressure was observed across the crypto market on Monday, global crypto market cap declined by 5.42% to $1.84T. Volume picked up on Monday as the market was offered throughout the day.
Bitcoin made highs of $42,424 before selling off to lows of $39,204 and later consolidated losses to close the day at $39,535. The cryptocurrency closed below the 100-day moving average which is a sign of weakness. Bitcoin was trading slightly higher at $39,848 at the time of writing.
US Core CPI data is set to release today which may move the markets as a warning of higher CPI figures was given by the White House advisory on Monday. The next support for the cryptocurrency is at $37,750 while on the upside $42,000 is the resistance level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets continued to slide on Friday and over the weekend as the bearish trend after the release of FOMC meeting minutes strengthened. Bitcoin made highs of $44,000 on Friday before declining to lows of $41,800 in the early trading hours today.
The cryptocurrency was trading at $42,200 at the time of publication.
The cryptocurrency should be supported at the psychologically significant $40,000 level but the near-term bias remains bearish. Market participants may look to sell Bitcoin at the $43,000 level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies consolidated losses as global crypto market cap inched up by 1.52% to $2.02 trillion. Among risk assets, equities made a favorable comeback with investors on Thursday, the yield on the 10-year paper rose 3.8 basis points to 2.647% and the dollar index rose to 99.823, the highest since May 2020.
The cryptocurrency consolidated losses and managed to stay above $43,000 on Thursday. Bitcoin traded from highs of $43,896 to intraday lows of $43,041 where it found decent support and moved up higher. The cryptocurrency looks bearish but might consolidate before moving towards $42,000. A break above $47,500 could trigger a fresh rally towards $50,000.
Bitcoin was trading at $43,598 – below the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $42,000 while on the upside $48,000 is the next major resistance level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies plunged as global crypto market cap moved down by 4.50% to $1.99 trillion. Minutes of the U.S. Federal Reserve’s March meeting showed inflation concerns dominated among central bank policymakers. Hawkish FOMC meeting minutes drove the risk assets down for the second consecutive day.
The cryptocurrency was offered throughout the day on Wednesday and failed to stay above $45,000. Bitcoin traded from highs of $45,548 to intraday lows of $42,740. The cryptocurrency looks bearish but might consolidate before moving towards $42,000. A break above $48,000 could trigger a fresh rally towards $50,000.
Bitcoin was trading at $43,310 – below the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $42,000 while on the upside $48,000 is the next major resistance level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies plunged as global crypto market cap moved down by 3.64% to $2.09 trillion. Financial markets around the world were consolidating this week and crypto markets followed the footsteps. More hawkish comments from FED governors combating inflation drove the risk assets down.
The cryptocurrency made intraday highs of $47,201 before plunging towards $45,000. Bitcoin made lows of $44,419 but quickly recovered towards $45,000. The cryptocurrency looks bearish but might consolidate before moving towards $42,000. A break above $48,000 could trigger a fresh rally towards $50,000.
Bitcoin was trading at $45,360 – below the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $42,000 while on the upside $48,000 is the next major resistance level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies rallied as global crypto market cap inched up by 0.1% to $2.17 trillion. The crypto markets continued to have a close correlation with other risk assets mainly stocks.
The cryptocurrency was offered on first half of Tuesday and made intraday lows of $45,124 before recovering towards $47,000. The cryptocurrency has been wavering between $45,000 and $47,000 since last few trading sessions. The cryptocurrency looks bearish and might test below $45,000 in a day or two. A break above $48,000 could trigger a fresh rally towards $50,000.
Bitcoin was trading at $46,780 – above the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $45,000 while on the upside $4800 is the next major resistance level.
Volodymyr Zelensky and Vladimir Putin will likely meet for face-to-face peace talks soon in Turkey. China reported 13,000 Covid cases on Sunday, the most since the peak of the first pandemic wave over two years ago, with Shanghai now the epicenter of the country's worst covid-19 outbreak.
Crypto markets remained slightly bid over the weekend with altcoins building strong bullish momentum. Bitcoin made highs of $47,219 before selling off to lows of $45,552 and later recovered to gain back all the losses. The cryptocurrency was trading at $46,157 at the time of publication.
Immediate support for Bitcoin is at $44,500 and on the upside 200-daily moving average remains strong resistance which is placed at $48,300.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets declined yesterday and early today as the European Union Parliament passed regulations to ban private crypto transactions. After the range bound price action of the past couple of days, Bitcoin faced heavy selling pressure selling off from highs of $47,600 to close the day at $45,500.
The cryptocurrency was sold off early today as well, making lows of $44,250, trading at $44,500 at the time of publication.
Immediate support for Bitcoin is at $43,000 with the near-term bias appears to be bearish.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Markets were range bound for the second consecutive day as participants took a breather from the bull run of the past week. Volumes remained muted as well, validating the soft price action. After selling off to $46,500 earlier in the day, Bitcoin made highs of $47,700 before consolidating to close the day at $47,000.
The cryptocurrency was trading flat at the time of publication. $45,000 and $50,000 remain important levels for Bitcoin and should act as near-term support and resistance respectively.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
The crypto bull run paused on Tuesday as Bitcoin trading activity remained rangebound. Bitcoin again failed to sustain momentum above $48,000 as the apex cryptocurrency consolidated from highs of $48,100 to close the day at $47,400.
Bitcoin sold off early this morning to $46,500 before rebounding to $47,300 at the time of publication. The cryptocurrency appears to be consolidating at the moment and should be supported at $45,000.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Crypto markets continued to climb higher to start the week as the Terra Foundation continued to purchase Bitcoin as part of their reserves. Markets moved up for the seventh consecutive day, breaking somewhat the correlation with global equity markets which are still shrouded in macroeconomic uncertainty.
Bitcoin made highs of $48,200 – the highest level seen in 2022, before cooling off to close the day at $47,150. The cryptocurrency was trading higher at $47,500 at the time of publication as Asia opened for trading in an upbeat mode.
Immediate support for the cryptocurrency is at $45,000 while on the upside, the psychologically significant $50,000 level could see some sellers emerging.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies exhibited significant strength as global crypto market cap moved up by 4.82% to $2.11 trillion. The crypto markets regained 2021-year end levels despite the headwinds of Inflation, war and COVID-19 in China and Asia Pacific. Fundamental buying pressure in the broader crypto markets especially Bitcoin, is driving the rally.
Bitcoin was stable over $44,000 over the weekend. The cryptocurrency broke out of the $33,000 - $45,800 range in which it was trapped since January 2022. The cryptocurrency wavered around $44,500 till late Sunday night before the bulls pumped the price above the crucial $45,600 resistance making swing highs of $47,765. The cryptocurrency looks bullish and might test $50,000 in a day or two. A break below $44,000 could trigger a fresh selloff towards $42,000.
Bitcoin was trading at $46,960 – above the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $42,000 while on the upside $50,300 is the next major resistance level.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies rallied as global crypto market cap moved up by 2.73% to $2.00 trillion. The crypto markets continued to be aligned with equities in the risk on move. Crypto sanctions due to geopolitical tensions are macroeconomic factors might continue to be the biggest market moving factors.
Bitcoin was stable over $42,500 on Thursday. The cryptocurrency pumped upwards after a Russian lawmaker hinted that they could suggest Bitcoin for oil payments and breached $44,000, making intraday highs of $44,400. The cryptocurrency looks bullish, but $45,000 level may put up a fight to bulls. A break below $42,500 could trigger a fresh selloff towards $40,000.
Bitcoin was trading at $44,100 – above the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $42,000 while on the upside $45,300 and $46,800 are the next major resistance levels.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Bitcoin traded sideways for most of yesterday but some alt coins including Cardano were aggressively bid indicating a risk on sentiment in the markets. With some USD related data points expected to be released today, a change in the macroeconomic picture could sour the underlying bullish sentiment. At the moment, crypto markets are rallying on dips, but with limited upside.
Bitcoin made a move towards the $43,000 level yesterday, and again early today, but failed to sustain bullish momentum above the level. The cryptocurrency was trading at $42,800 at the time of publication. Immediate support for the cryptocurrency is at $41,000 while $43,500 and $45,000 are the next major resistances.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies consolidated gains as global crypto market cap moved lower by 2.15% to $1.90 trillion. Crypto markets brushed away FED rate hike concerns as traditional markets rallied.
Bitcoin breached the $43,000 level in the early Asian hours on Tuesday but was offered in the second half of the day. The cryptocurrency made intraday highs of $43,337 before declining to lows of $41,779. The cryptocurrency looks range bound and may waver between $40,000 to $43,500. A break below $40,500 could trigger a fresh selloff towards $39,000.
Bitcoin was trading at $42,010 – above the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $41,000 while on the upside $44,200 and $45,000 are the next major resistance levels.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies rallied and the global crypto market cap moved up by 4.49% to $1.93 trillion. Crypto markets were holding up nicely even after Fed Chair Jerome Powell turned more hawkish stating, “Inflation is much too high”.
Bitcoin breached the $42,500 level and started a fresh move towards $44,000 in the early Asian hours on Tuesday. The cryptocurrency made intraday lows of $40,758 before rallying to highs of $43,337. The cryptocurrency looks bullish and may test $44,000 today. A breach below $40,500 could trigger a fresh selloff towards $39,000.
Bitcoin was trading at $42,910 – above the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $41,000 while on the upside $44,200 and $45,000 are the next major resistance levels.
SEBA Bank | Daily Crypto Market Report
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies sold off and the global crypto market cap declined by 2.37% to $1.85 trillion since yesterday. The crypto markets ended the week in green with altcoins dominating the rally. Crisis in eastern Europe, a strong dollar index and decline in Bitcoin mining might continue to add bearish pressure.
Bitcoin failed to breach the $42,500 level and started a fresh decline towards $40,000. The cryptocurrency made swing highs of $42,405 before declining to lows of $40,516. The cryptocurrency looks bullish and might test $42,500 again today. A breach below $40,000 could trigger a fresh selloff towards $38,000.
Bitcoin was trading at $40,880 – below the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $40,000 while on the upside $43,200 and $45,000 are the next major resistance levels.
Daily Rundown – BTC, ETH and DOT
After several weeks of declines in newly reported cases of COVID-19, the numbers are increasing globally once again, particularly in parts of Asia and Western Europe. On the other hand, central banks are tightening monetary policy as inflation is at record levels. The Bank of England on Thursday raised interest rates for the third consecutive meeting.
Volatility compressed in Bitcoin as the apex cryptocurrency traded within the previous day’s range on Thursday. The largest cryptocurrency by market cap made highs of $41,486 before selling off lows of $40,521 and later recovered to close the day at $40,950.
Bitcoin was trading slightly lower at $40,642 at the time of publication. Immediate support for the cryptocurrency is at $39,300 while on the upside $42,600 and $44,500 are the next major resistances.
Daily Rundown – BTC, ETH and DOT
Sentiment improved across asset classes on Wednesday as the uncertainty around the Fed tightening monetary policy more than expected was reduced. Policymakers voted 8-1 to lift their key rate to a target range of 0.25% to 0.5% after two years of holding borrowing costs near zero.
Ukraine and Russia drew up a 15-point neutrality plan to end the war, and on the other hand China made a strong push to stabilize battered financial markets, promising to ease the regulatory crackdown on technology companies and stimulate the economy.
The global crypto market cap rose by 4.71% to $1.83 Trillion. The crypto market participated in a broader risk-on move. Bitcoin had a very strong rally as volumes exploded on Wednesday. The apex cryptocurrency made intraday lows of $38,865 before rallying to highs of $41,693 and later consolidated gains to close the day at $41,142.
The largest cryptocurrency by market cap was trading at $41,249 at the time of publication. Immediate support for the cryptocurrency is at $39,300 while on the upside 100-day moving average which is placed at $42,600 and $44,500 are the next major resistance levels.
Daily Rundown – BTC, ETH and DOT
Risk-on sentiment persisted on Tuesday despite negative news flow coming from China and Russia. “China’s worst Covid-19 outbreak since the initial wave of the pandemic worsened on Tuesday with a major factory city ordering production halts.” On the other hand, Putin stated, “Kyiv is not serious to find a mutually acceptable solution.”
Bitcoin closed in red despite strong risk-on sentiment on Tuesday. The apex cryptocurrency made lows of $38,142 before rallying on the US open and made highs of $39,896 where it tested the 20-day moving average and later close the day at $39,302.
The largest cryptocurrency by market cap rallied to $41,700 levels which was sold off very aggressively during the early Asian hours and was trading at $39,318 at the time of publication. Recent rallies have been aggressively sold hence short-term bias is bearish for Bitcoin. FOMC meeting is scheduled today which may change sentiments if expectations are not met. Immediate support for the cryptocurrency is at $37,500 while on the upside $41,700 and $43,200 are the major resistance levels.
Daily Rundown – BTC, ETH and DOT
China’s government has ordered a province of 24 million people into lockdown as it tries to contain a Covid-19 outbreak that has spread to multiple locations. A prolonged wave in China threatens further supply chain disruptions.
Crypto markets participated in a risk-on move on Monday, the global crypto market cap rose by 0.04% to $1.72 trillion. Bitcoin made intraday lows of $37,567 before rallying to highs of $39,913 where it tested a 20-day moving average and consolidated gains to close the day at $39,665.
The largest cryptocurrency was trading lower at 38,827 during the early Asian hours at the time of publication. United States is set to report Producer price index (PPI) data today which may move the markets. Immediate support for the cryptocurrency is at $37,500 while on the upside $40,000 and $43,200 are the next major resistance levels.
Russian and Ukrainian officials gave their most upbeat assessments yet on Sunday of progress in their talks on the war in Ukraine, suggesting there could be positive results within days.
Crypto markets stayed muted over the weekend with a slight negative bias. Bitcoin traded with lower-than-average volumes. The apex cryptocurrency faced resistance near $39,400 levels, Bitcoin made highs of $39,458 before declining to lows of $37,595 and later closed the weekend at $37,790.
The largest cryptocurrency was trading higher at 38,479 during the early Asian hours at the time of publication. The European Union seems ready to finally pass its regulatory framework on cryptocurrencies with a vote expected today on limiting proof of work cryptocurrencies which may move the markets today.
Immediate support for the cryptocurrency is at $37,500 and $35,800 while on the upside $40,200 and $43,200 are the major resistance levels.
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies sold off and the global crypto market cap declined by 4.20% to $1.72 trillion on Thursday. The sell-off was in line with broader risk assets as the latest CPI print at 7.9% registered a 40 year high.
Bitcoin failed to stay above the $40,000 level and started a fresh decline towards $38,000. The cryptocurrency was offered on Thursday declining to lows of $38,244. The cryptocurrency looks bearish and might test $36,000. A breach above $40,000 could trigger a fresh rally towards $43,000.
Bitcoin was trading at $38,520 – below the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $37,500 and $35,800 while on the upside $40,200 and $43,200 are the next major resistance levels.
Daily Rundown – BTC, ETH and DOT
A strong risk-on sentiment gripped global markets on Wednesday as Ukraine’s president Zelensky indicated a willingness to make concessions to end the war.
Pan-European Stoxx 600 closed up 4.7% to notch best session in nearly two years and Brent crude oil saw its biggest one-day percentage decline in almost two years.
Crypt markets participated in the risk-on rally. Bitcoin was bid throughout the day on Wednesday. The apex cryptocurrency made intraday lows of $38,667 before rallying to highs of $42,591 before consolidating to close the day at $41,960.
The largest cryptocurrency by market cap gave back most of the gains made on Wednesday and was trading at $39,592 during the early Asian hours at the time of publication. US core CPI is set to be announced today which may move the markets. Immediate support for the cryptocurrency is at $38,000 while $42,000 is the next major resistance level.
Daily Rundown – BTC, ETH and DOT
Geopolitical situation worsened further as US and UK banned Russian oil imports in response to the invasion of Ukraine and Russian President Vladimir Putin signed a decree introducing special economic measures in foreign trade for ensuring Russia's security.
Bitcoin consolidated on Tuesday as the cryptocurrency traded inside the previous day’s range. The apex cryptocurrency made lows of $37,885 before rallying to intraday highs of $39,377 and later consolidated gains to close the day at $38,753.
The largest cryptocurrency by market cap reclaimed a 50-day moving average and was trading higher at $41,482 at the time of writing as a positive statement of Janet Yellen on Joe Biden’s executive order regarding digital assets was released a day early apparently by error. Immediate support for the cryptocurrency is at $40,000 while $42,500 and $43,200 are the next major resistance levels.
Daily Rundown – BTC, ETH and DOT
Risk-off sentiment persisted on Monday as the Gold and Dollar index had a strong move to the upside, whereas Cryptocurrencies and Equity markets continued to sell-off.
Bitcoin had a volatile session on Monday. The largest cryptocurrency made highs of $39,557 where it faced strong selling pressure and then made lows of $37,169 before retracing to close the day at $38,016.
The apex cryptocurrency was trading at $38,570 – close to the 50-hour moving average - at the time of writing. Immediate support for the cryptocurrency is at $37,500 and $35,800 while $40,200 and $43,200 are the next major resistance levels.
Daily Crypto Market Update - 07.03.2022
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies sold off and the global crypto market cap declined by 3.15% to $1.70 trillion over the weekend. Traditional markets witnessed a risk off move while commodities like oil and gold surged as Ukraine-Russia crisis entrenched. Dollar Index rallied to 2-year highs adding more bearish pressure on the crypto markets.
Bitcoin failed to stay above the $40,000 support level and started a fresh decline towards $38,000. The cryptocurrency was offered over the weekend declining to lows of $37,592. The cryptocurrency looks bearish and might test $35,000. If the cryptocurrency breaches $40,000, we could see a fresh rally towards $43,000.
Bitcoin was trading at $38,080 – below the 100-hour moving average – at the time of publication. Immediate support for the cryptocurrency is at $37,500 and $35,800 while on the upside $40,200 and $43,200 are the next major resistance levels.
Daily Crypto Market Update - 04.03.2022
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies sold off and the global crypto market cap declined by 4.17% to $1.83 trillion on Thursday as Russia’s invasion of Ukraine escalated after Europe’s largest nuclear power plant caught fire after attacks by Russian troops. US Jobless claims data and a strong dollar index added more bearish pressure.
Bitcoin failed to stay above the $43,000 support level and started a fresh decline towards $41,000. The cryptocurrency was bid first half of the day rallying to make intraday swing highs of $44,118 before selling off quickly to lows of $41,077. The cryptocurrency was supported near $41,000 and might consolidate losses today. If the cryptocurrency breaches $43,000, we could see a fresh rally towards $45,000.
Bitcoin was trading at $41,350 – below the 100-hour moving average – at the time of publication. Dips for the cryptocurrency may be limited to $40,000 while on the upside $43,200 and $45,000 are the next major resistance levels.
Daily Crypto Market Report
Major cryptocurrencies sold off and the global crypto market cap declined by 2.6% to $1.91 trillion on Wednesday as Fed Chair Jerome Powell maintained a hawkish tone despite the raging crisis in Ukraine.
The Bitcoin rally stalled as it failed to stay above the $45,000 resistance level. The cryptocurrency traded over $45,000 briefly making intraday swing highs of $45,330 before moving down back towards $43,000. The cryptocurrency looks bearish and might selloff towards $40,000 today. If the cryptocurrency breaches $45,000, we could see a fresh rally towards $48,000.
Bitcoin was consolidating and trading at $43,420 – above the 100-hour moving average at the time of publication. Immediate support on the downside is at $42,000 followed by $40,000 while on the upside $45,700 and $47,000 are the next major resistance levels.
Daily Crypto Market Update - 02 Mar 2022
Daily Rundown – BTC, ETH and DOT
Major cryptocurrencies rallied on Tuesday as the global crypto market cap rose 1.9% to $1.95 trillion. The crypto markets decoupled from traditional markets which witnessed a risk-off move for a second straight day as the Ukraine – Russia crisis escalated.
Bitcoin spiked to test the $45,000 resistance and moved into bullish territory on Tuesday. The cryptocurrency made intraday swing highs of $44,980 and faced resistance at $45,000 before moving down back towards $44,000. The cryptocurrency looks bullish and might breach $45,000 today. If the cryptocurrency fails to breach $45,000, we could see a fresh selloff towards $40,000.
Bitcoin was consolidating and trading at $44,270 – above the 100-hour moving average at the time of publication. Immediate support on the downside is at $42,000 followed by $40,000 while on the upside $45,700 and $47,000 are the next major resistance levels.
Daily Crypto Market Update - 01 Mar 2022
Daily Rundown – BTC, ETH and DOT
The Bank of Russia raised its key policy rate from 9.5% to 20.0% after the rouble sank by 30% following new Western sanctions. This helped the Rouble pare back a third of its losses. Crypto markets rallied despite the weak geopolitical conditions as the Russia-Ukraine crisis highlights how cryptocurrencies can act as a support mechanism to raise funds when traditional avenues are cut off.
Bitcoin rallied and broke key resistance levels on Monday. The apex cryptocurrency made lows of $37,469 before a strong late afternoon rally to highs of $44,256 and later consolidated gains to close the day at $43,179.
The largest cryptocurrency by market cap regained its 50-day moving average on Monday, which is placed at $40,363 and was trading at $43,183 at the time of writing. Downside support is at $40,000 while the upside next resistance is at $44,500.
SEBA Bank's Daily Crypto Market Update aims to give you a short summary of price action, news flow and market outlook straight from our trading team.