ETH and BTC consolidating at key levels, calm before the storm?

ETH and BTC are both consolidating at key levels and the market has remained at a tipping point waiting for direction to be determined, so let’s read and take a closer look today latest cryptocurrency news.

The crypto market remains at a tipping point as ETH and BTC consolidate at key levels, so the past 24 hours has seen coins and other major cryptocurrencies consolidate around important levels with performances likely to determine the direction to follow. The price of BTC is the same as 24 hours ago and the crypto has remained stable at the $24,000 level, which is a significant barrier but a break above said spot could pave the way for new ones. earnings.

Despite the relative calm, the market saw around $200 million in long and short positions liquidated, but the department leader was ETH at $77 million after BTC at $27 million. The chart visualizes BTC’s trading range over the past few weeks and the importance of the $24,000 level. The majority of altcoins are trading flat over the past day, like Bitcoin. Ethereum is priced the same as yesterday, with the same being said for many major coins, as seen in the image below.

That being said, Polkadot Dot is the biggest outlier and exception to the above and the crypto has climbed 8% in the past day and climbed into the top 10 by market capitalization. Overall market sentiment is improving and the Fear and Greed Index, the most commonly used metric to gauge sentiment, now sits at 42 points, indicating fear, but not as bad as there is. a few weeks ago, when it reached 10 points. .

Bitcoin could be down over 65% from the November 2021 ATH above $69,000, but it is having a good time in July. Bitcoin has jumped 19% in the past 30 days and it has yet to see one of its best months since last year. The digital asset at the time of writing was trading at $24,094 and it marked a 3% seven-day rise, but crucially, Bitcoin’s 30-day rise is the biggest rise since October.