At lunchtime today, we also look at the live Bitcoin price and the prices of the top 25 crypto. Then we see the latest developments that are important for the Bitcoin price.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price flat, prices top 25 crypto rise
At the time of writing, the live Bitcoin price is quoting EUR 28,733.13 ($29,921.95). This is 0.92% higher than yesterday at lunchtime, but 1.5% lower than during our Bitcoin lunch last Friday.
For many of the other crypto currencies in the top 25, sentiment is more positive. We are seeing generally green results. Among the losers, Bitcoin Cash (BCH) records the biggest loss at -3.03%. The biggest gain of the day so far is for Cosmos hub (ATOM) with +8.09%.
Crypto crash puts dent in results Bitcoin and crypto
Looking at the results of the past week and last month, we can see that last week’s violent crypto crash has put deep holes in the results.
Thus, in the week’s results apart from a few stable coins we see only negative results. The biggest loss of the week was by Near Protocol (NEAR) with -39.36%, while Leo Token (LEO) managed to limit the damage the most with -7.02%. Bitcoin (BTC) posted a weekly loss of 12.57%.
The monthly results are also colored (deep) red, with Tron (TRX) being the exception to the rule at +11.60%. Again, Near Protocol (NEAR) suffers the biggest loss. In 30 days, this coin dropped a whopping 57.67% in value. Again, we find Bitcoin (BTC) in the middle with -26.61%.
Of course, on the site of Tradeincrypto.com you can analyze all the results and live crypto prices 24 hours a day.
Bitcoin below $30,000 due to ECB warnings
We already saw last week that the crypto crisis and in particular the course of events surrounding Terra’s stable coin caught the attention of regulatory authorities. This makes investors nervous and we saw that this morning.
Both an executive from the French national bank and ECB board member Fabio Panetta warned about the risks of crypto in general and stable coins in particular. In doing so, they called for more regulation. Bitcoin investors reacted immediately. The price dropped through the crucial $30,000 mark, reinforcing concerns in the market.
On-chain BTC analyses show contradictions
When we look at the on-chain metrics we see contradictory signals. As we saw last week, a Bitcoin price below $30,000 opens the door for a new wave of selling.
An extensive analysis shows that major players, institutional investors and whales, react to this in varying ways. On the one hand, they try to sell their Bitcoin through market makers, fueling a wave of selling and further price decline.
On the other hand, they take positions in futures markets that indicate they are speculating on price increases in the relatively short term. In doing so, the market shows uncertainty and volatility (movement of prices). To estimate whether a break upward or downward is imminent we must look for signals.
Bitcoin bulls from South America?
A bullish signal might be coming from South America. In El Salvador, which Bitcoin is now known as legal tender, representatives from 44 central banks and regulatory authorities are meeting to discuss Bitcoin. The exact agenda has not been disclosed.
What we do know is that the representatives are almost all from developing countries in Africa and South America. It would obviously be a bullish signal if (some of) those countries decide to accept Bitcoin as legal tender just like the host country.
So, as we can see, the market is divided on all fronts. All the more reason to follow our Bitcoin and crypto updates and perhaps add more diversity to your investments.
Investing, but not in Bitcoin or crypto?
In addition to developments in the crypto market, we naturally follow developments around the prices of other investments, such as stocks, gold, oil and FOREX.
On the basis of fundamental factors and technical analysis we make a weekly price forecast for the most popular investments on Monday. Are you curious about the price forecast for the coming week?
Do you want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”