The BTC exchange rate looks weak on Wednesday, hovering around 26,015 USD.
The cryptocurrency sector has suffered noticeably after the crash triggered by the Bitcoin Magazine publication. The BTC decline also pulled down key altcoins. Currently, the sector is still impacted by the bearish seasonal factor, and its transition to a bullish trend in early September could be delayed.
An important support for the BTC is the 25,150 USD mark, with the next one at 23,350 USD. There are still no buyers on the platform.
The cryptocurrency market capitalisation remains around 1.05 trillion USD. The share of BTC has dropped to 48.4%, while the share of ETH decreased to 18.8%.
NFTs from the Bored Ape Yacht Club collection sold at a loss
A trader who bought NTF tokens from the Bored Ape Yacht Club collection 11 months ago sold them with a loss of 80%. The NFTs were bought for 777 ETH, representing the most expensive NFT token in this collection. The sale transaction took place on the X2Y2 platform, and the amount totalled 153 ETH.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
MATIC in the risk zone
The value of the Polygon project’s MATIC token has fallen to its lowest level since July 2022. Due to the pressure from US regulators and the increasing interest in the L2 networks like Base and Optimism, the demand for Polygon’s services declined. This simultaneously affected the MATIC price dynamics.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Euro climbs to five-week high ahead of US CPI data May 15, 2024
- Australia will release its annual budget today. Rising inflation expectations hurt US stock indices May 14, 2024
- JPY declines again May 14, 2024
- Trade of the Week: CHINAH to extend lead as Asia’s winner? May 13, 2024
- The German index has hit an all-time high. China sees rising consumer inflation May 13, 2024
- Brent crude oil faces downward pressure amid demand uncertainties May 13, 2024
- COT Metals Charts: Speculator bets led by Platinum & Copper May 11, 2024
- COT Bonds Charts: Speculator bets led by Fed Funds & Ultra 10-Year Bonds May 11, 2024
- COT Stock Market Charts: Speculator bets led by DowJones & Russell 2000 May 11, 2024
- COT Soft Commodities Charts: Speculator bets led by Corn & Soybeans May 11, 2024