Markets
Bitcoin, Ethereum and Dogecoin Trade Flat as Market Uncertainty Persists: Analyst Predicts ‘Major Boost’ to $75,000 for King Crypto
June 2, 2024 9:55 p.m. | 2 minutes of reading
Major cryptocurrencies remained in balance on Sunday as investors waited for a strong trigger to move the market in one direction or the other.
| Cryptocurrency | Earnings +/- | Price (recorded at 8:30 p.m. EDT) |
| Bitcoin (CRYPTO: BTC) | -0.14% | $67,652.21 |
| Ethereum (CRYPTO: ETH) | -1.37% | $3,767.77 |
| Dogecoin (CRYPTO: DOGE) | -2.42% | $0.1567 |
What happened: Bitcoin faced resistance around its previous all-time high as it teetered in the $67,000 to $68,000 area.
The uncertainty also continued Ethereumwith the second-largest cryptocurrency facing strong resistance around $3,800.
The market saw liquidations worth $141.57 million in the last 24 hours, and long positions worth $91 million were wiped out.
The lack of volatility was also evident in the derivatives market. Open interest in Bitoin futures increased by just 0.14% over the past 24 hours, indicating that investors were waiting and watching.
The Cryptocurrency Fear and Greed Index continued to read “Greed” at the time of writing, implying a potential increase in buying pressure.
Best winner (24 hours)
| Cryptocurrency | Earnings +/- | Price (recorded at 8:35 p.m. EDT) |
| Notcoin (NOT) | +54.70% | $0.02393 |
| Aevo (AEVO) | +14.14% | $1.03 |
| Toncoin (TONNE) | +9.15% | $6.86 |
The global cryptocurrency market capitalization stands at $2.52 trillion, following an increase of 0.46% over the past 24 hours.
Stock futures rose slightly on Sunday. THE Dow Jones Industrial Average Futures rose 107 points, or 0.28%, as of 8:30 p.m. EDT. Futures contracts linked to S&P500 gained 0.29%, while Nasdaq 100 Futures Contracts were up 0.25%.
Wall Street kicked off June after an impressive performance last month, with all three major indexes hitting record highs.
This week, investors will focus on key economic updates, including manufacturing data due Monday and a key jobs report Friday to gauge the Federal Reserve’s sentiment on interest rates.
See more : Best Cryptocurrency Scanners
Analyst Ratings: Popular Cryptocurrency Analyst TARA observed a “critical” moment for Bitcoin on the price chart, prompting him to forecast an all-time high.
“The full ABCDE on price and RSI is complete. It just broke out from resistance (RSI) and completed the breakout test ($67.8k). I think we are about to see a MAJOR push up to $75.8k.. a new ATH!”
Prominent analyst Michael van de Poppe interpreted the sideways movement of altcoins positively and hoped for an upward breakout and new highs in the coming weeks.
Photo by Igor Faun on Shutterstock
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