Major currencies were trading in the green on Wednesday evening as investors worried about regulatory concerns and focused more on February's first sentiment survey.
| Crypto currency | profit (+/-) | Price: |
|---|---|---|
| Bitcoin: | +1.85% | 23,594 dollars |
| Ethereum: | +3.06% | 1 656 US dollars |
| Dogecoin | + 0.99% | 0.081 dollars |
What Happened Apex cryptocurrency Bitcoin (CRYPTO: BTC) holds above $23,500 after a volatile trading session. The price rose to $24,000 before falling, but quickly recovered.
Ethereum (CRYPTO: ETH) traded at $1,656. Dogecoin (CRYPTO: DOGE) is at $0.081, up 0.99% in the last 24 hours.
At the time of writing, the global crypto market was worth $1.08 trillion, up 2.02 percent from the previous day.
U.S. stocks closed lower on Wednesday, with the S&P 500 and Nasdaq Composite down 0.4% and 0.6%, respectively. Market sentiment weakened as investors failed to recover from last month's market losses and bond yields hit record highs.
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Silvergate Bank (NYSE: SI ) said it will delay its annual 10K report, sending its stock price up more than 30%. A 10-K report is required by the Securities and Exchange Commission (SEC) to provide an overview of a company's business and financial condition.
On Wednesday, Polygon announced the release of its new Polygon ID product, which is based on zero-knowledge (ZK) technology that allows users to securely identify themselves or identify themselves without revealing sensitive information.
Analyst notes : "Bitcoin is higher during the day, but it is limited to a narrow trading range. Investors are less concerned about regulatory concerns and are more focused on the improvement in demand that occurred in February. It seems that Bitcoin may hold a little. Between $21,000-$25,500 It has range,” said Edward Moya, market analyst at Oanda.
Crypto analyst Michael van de Pop said the $23,800 figure is key for the top crypto to gain sustained momentum. A successful break of this level can significantly increase the price of Bitcoin, supporting an upward movement.
Analyst Justin Bennett sees Bitcoin testing $23,800, but bears are holding firm. "A second day close below this trend line IMO confirms a bearish trend near $23,300. It was a bit, but closed below Tuesday. I still think $20,000 is a matter of time."
Data analytics provider Sentiment reports that the number of Bitcoin hotspots has dropped significantly over the past 12 months, from 2,489 to 2,011 as of February 8.
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