Markets
Bitcoin, Ethereum and Dogecoin Trade Flat as Market Uncertainty Persists: Analyst Predicts ‘Big Boost’ of $75K for King Crypto
June 2, 2024 9:55 pm | 2 minutes of reading
Top cryptocurrencies remained balanced on Sunday as investors waited for a strong trigger to move the market in either direction.
| Cryptocurrency | Earnings +/- | Price (recorded at 8:30 p.m. EDT) |
| Bitcoin (CRYPTO: Bitcoin) | -0.14% | US$67,652.21 |
| Ethereum (CRYPTO: ETH) | -1.37% | US$3,767.77 |
| Dogecoin (CRYPTO: DOGE) | -2.42% | $0.1567 |
What happened: Bitcoin it faced resistance around its previous all-time high while hovering in the $67,000-$68,000 zone.
Uncertainty also dragged on Ethereumwith the second-largest cryptocurrency facing stiff resistance around $3,800.
The market saw liquidations worth $141.57 million in the last 24 hours, with $91 million worth of long positions being eliminated.
The lack of volatility was also evident in the derivatives market. Open interest in Bitoin futures grew just 0.14% in the last 24 hours, indicating that investors were waiting and watching.
The Cryptocurrency Fear and Greed Index continued to display “Greed” as of this writing, implying a potential increase in buying pressure.
Biggest earner (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 8:35 pm EDT) |
| Notcoin (NO) | +54.70% | $0.02393 |
| Aevo (AEVO) | +14.14% | $1.03 |
| Toncoin (TONNE) | +9.15% | $6.86 |
The global cryptocurrency market cap is $2.52 trillion, after an increase of 0.46% in the last 24 hours.
Stock futures rose on Sunday. O Dow Jones Industrial Average Futures rose 107 points, or 0.28%, as of 8:30 p.m. EDT. Futures linked to S&P 500 gained 0.29%, while Nasdaq 100 Futures rose 0.25%.
Wall Street entered June after an impressive performance last month, with all three major indexes reaching record highs.
This week, investors will focus on key economic updates, including manufacturing data due on Monday and a key employment report on Friday, to gauge the Federal Reserve’s sentiment toward to interest rates.
View more: Best Cryptocurrency Scanners
Analyst Notes: Popular Cryptocurrency Analyst TARE noted a “critical” moment for Bitcoin on the price chart, leading it to predict an all-time high.
“The complete ABCDE on price and RSI has been completed. It has just broken out of resistance (RSI) and completed the breakout test ($67.8K). I think we are about to see a BIG push up to $75, 8 thousand.. a new ATH!”
Prominent analyst Michael van de Poppe interpreted the sideways movement of altcoins positively and waited for a bullish breakout and new highs in the coming weeks.
Photo by Igor Faun on Shutterstock
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