Bitcoin reclaimed the $20,000 mark, while Ethereum traded above $1,500 on Monday evening as the global cryptocurrency market cap rose 4.2% to $985.55 billion.
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| Coin | 24-hour | 7-day | Price |
|---|---|---|---|
| Bitcoin BTC/USD | 3.2% | -5.2% | $20,269.24 |
| Ethereum ETH/USD | 7.9% | -4.5% | $1,545.94 |
| Dogecoin DOGE/USD | 3.2% | -6.8% | $0.06 |
| Cryptocurrency | 24-Hour % Change (+/-) | Price |
|---|---|---|
| Lido DAO (LDO) | +17.1% | $1.86 |
| Synthetix (SNX) | +15.9% | $3.47 |
| Flow (FLOW) | +12.3% | $1.91 |
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The two largest cryptocurrencies were in the green at the press time after surviving a day that saw risk assets such as stocks tumble. The S&P 500 and Nasdaq ended Monday down 0.7% and 1%, respectively. At press time, stock futures rose slightly.
“Bitcoin is showing some resilience here as it has clawed back above the $20,000 level, despite widespread stock market weakness. Cryptocurrency traders are not used to seeing Bitcoin withstand a rout on Wall Street, so this could be a promising sign,” said OANDA senior market analyst Edward Moya, in a note, seen by Benzinga.
Michaël van de Poppe noted that Ethereum was showing strength on Monday. The cryptocurrency expects a “few days of consolidation” for the second-largest coin. Van de Poppe sees crucial ETH resistance at $1,650 and a potential move up to the $2,200 mark.
– #Ethereum showing strength today. #Bitcoin has been seeing a slight bounce, which resulted into a 3.50% bounce on the $ETH / $BTC pair.
The scenario still stands and could fulfill;
– Few days of consolidation.
– Crucial resistance at $1,650.Potentially $2,200. pic.twitter.com/s0o63755GE
— Michaël van de Poppe (@CryptoMichNL) August 29, 2022
Justin Bennett reminded his followers on Twitter that altcoins…
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