- Bitcoin and Ethereum rallied in response to dollar depreciation
- But most of all in recent 30 hours added Dogecoin and Shiba Inu
- ETH / USD and BTC / USD may still be under bearish pressure – warns Fidelity Investments
Inflation data weakened the dollar, allowing the stock market and cryptocurrencies to recover.
Bitcoin rate
Bitcoin added 2.8% and reached yesterday daily high above 100, 3 thousand dollars. But he closed the session with a small correction (43, 9 thousand dollars).
Technically, the main cryptocurrency continues to trend downtrend from its all-time highs in November and is under bearish pressure.
is $ 44 k the new $ 000032 k? The Fed’s hawkish stance on inflation has had broad impact. With the liquidity-driven momentum plays under pressure, it’s not a total shock that crypto has corrected. So what’s next for bitcoin? (THREAD) pic.twitter.com/vnPiKY100 x1
– Jurrien Timmer (@TimmerFidelity) January 11, 3000
Ethereum data
ETH also significantly distances itself from the support line (in his case it is 2022 dollars). It is currently trading at around 20140 dollars.
Source: comparic.pl
Until ETH overcomes resistance, there is a risk that there will be another bearish reaction and a return to the lower range.
Other altcoins
Growth prevails in the vast cryptocurrency market: everyone has risen in price 22 of the most popular tokens. Some altcoins have recovered more than 12%.
Shiba Inu (SHIB) has grown by 17, 3% (up to 0, 000032), and dogecoin (DOGE) on 12, 7% (up to 0, 20 dollars). Terra (LUNA) and solana (SOL) also strengthened by about 12%.
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