Meanwhile, the US markets have closed again. We share the live Bitcoin (BTC) price and the current prices of the top 25 crypto. Then we analyze the prices of Ethereum (ETH) and Avalanche (AVAX). Finally, we share how the Formula 1 organization is going into crypto.
We begin, of course, with the live Bitcoin (BTC) price and the prices of the top 25 crypto.
Live Bitcoin (BTC) price and prices top 25 crypto rise again
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 20,265.18 ($20,193.17). This is 1.47% higher than yesterday around this time, but 2.23% lower than during our crypto update on Friday.
The prices of most crypto in the top 25 are also recovering cautiously. Apart from the stable coins, we see only green numbers. The biggest gain is currently for FTX Token (FTX), which is quoting + 5.40%. On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Ethereum (ETH) funding rates are at historic lows. Crypto analysts expect …
Funding rates represent the difference between the premium for perpetual futures and the current price. When the premium is lower than the current price it means that the short investors are dominant. When the premium is high the long traders have the upper hand.
Meanwhile, funding rates are at their lowest level since July 2021. Then, after the low funding rates, there followed a so-called short squeeze (short options were liquidated en masse due to rapidly rising prices) and a bull-run towards the price’s high in November last year.
It is expected that the current drop in rates is related to how traders are hedging for the Ethereum Merge rollout.
The live Ethereum (ETH) price is currently at $1,538.70 and this is 4.99% higher than yesterday around this time. However, to immediately speculate on a short squeeze and bull run now may be a bit premature. Indeed, as we see in the Ethereum price analysis, there are some major resistances waiting between $1,750 and $2,000.
How bearish is the Avalanche (AVAX) price forecast?
We saw this afternoon that Avalanche (AVAX) suffered the biggest loss of the top 25 crypto last week. Today, the live Avalanche (AVAX) price is recovering slightly. At $19.15, the price is exactly 1.38% higher than yesterday around this time. Still, the suffering does not seem to be over yet.
Indeed, the bears are holding back a breakout above $20. This makes the outlook for the Avalanche (AVAX) price bearish again for the time being. A price drop from $17.50 to a price of $10 cannot be ruled out as you can see in the video analysis below.
As we see in the video, there is only room for a trend reversal if the price breaks through $24.70. This seems a lot to ask at the moment, but if the Avalanche (AVAX) price rises above this price (the simple moving average over 200 days) a further breakout to $30.87 is possible. With that, a return of some ± 60% awaits and that is reason enough to follow the price.
Formula 1 itself now also in crypto
We see more and more crypto companies acting as sponsors of Formula 1 teams. For example, you can even get crypto lessons from Max Verstappen.
Waking analysts have now discovered that the Formula 1 organization itself wants to make big moves in the crypto market. Thus, they registered brands for various digital applications, such as:
NFTs;
a proprietary crypto currency
blockchain insurance and financial services
virtual racing clothing and racing gear and
crypto currency trading.
We could expect the first results around the Las Vegas Grand Prix. In addition to the above products and services, we can then expect to see headphones and digital art there. At the moment it is not clear what exactly Formula 1 has planned, but it is clear that they are also going for pole in the crypto market.
Staying up to date with the latest stock 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.
Note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide rationally if, when, what and how much you want to invest in.
