[뉴욕 = 장도선 특파원] The cryptocurrency market continues to move within its range before the opening of the New York Stock Exchange on the 13th, exploring its direction. Bitcoin fell slightly below $58,000.
While the outlook for the Federal Reserve‘s next rate cut remains mixed, there is no new catalyst that will affect the market in the short term. According to CME FedWatch, there is a 57% chance that the Fed will cut its benchmark interest rate by 25bp next week, and a 43% chance that it will cut by 50bp. It is pointed out that it is necessary to pay attention to the stock market movement as the trend of the stock market and cryptocurrency market has recently strengthened. The New York Stock Exchange stock index futures are currently in a strong consolidation.
Continued uncertainty surrounding the U.S. presidential election, the potential for further yen appreciation and subsequent potential further unwinding of yen carry trades, and geopolitical tensions continue to weigh on market sentiment.
Bitcoin spot ETFs in the US stock market recorded a small net inflow the previous day, but Ethereum spot ETFs saw money flow out again, indicating that the investment sentiment in the digital asset market is still shrinking. The fear and greed index in the cryptocurrency market is still indicating a state of fear at 33.
As of 8:23 a.m. on the 13th, New York time, the cryptocurrency market capitalization on CoinMarketCap was $2.4 trillion, down 0.15% from 24 hours ago. It is almost the same as the closing time of the New York Stock Exchange the previous day. The 24-hour trading volume of the cryptocurrency market was $58.9 billion, down 14.54%. Bitcoin dominance was 56.1%, and Ethereum dominance was 13.9%.
CoinMarketCap (8:23 AM New York Time on the 13th)
At this time, Bitcoin is down 0.53% from 24 hours ago to $57,781 on CoinMarketCap. Bitcoin is generally fluctuating between $57,500 and $58,500. Bitcoin is in a correction after hitting an all-time high of $73,750.07 on March 14. Ethereum is down 0.10% to $2,349. Ethereum’s all-time high was $4,891.70 on November 16, 2021.
Other altcoins in the top 10 by market cap have shown mixed performances over the past 24 hours. BNB advanced by 0.12%, XRP by 4.98%, Dogecoin by 2.26%, and TON by 2.93%. Solana by 1.93% and Tron by 2.25%, respectively.
Bitcoin futures for September delivery on the Chicago Mercantile Exchange (CME) fell 0.91% to $58,045, October futures fell 0.81% to $58,535, and November futures fell 0.22% to $59,340. Ethereum for September delivery was flat at $2,367.00, and October futures advanced 0.13% to $2,386.50.
The dollar index fell 0.26% to 101.10, according to Wall Street Journal data. The yield on the 10-year Treasury note fell 1.8 basis points to 3.660%.
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Will Ripple Continue Its Uptrend?… “External Material Dependency, Breaking Through $0.65 Is Key” – Cointelegraph
– What factors are contributing to the range-bound nature of the cryptocurrency market as the New York Stock Exchange opens?
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Cryptocurrency Market Remains Range-Bound as New York Stock Exchange Opens
The cryptocurrency market continues to trade within a narrow range as the New York Stock Exchange opens on September 13th. Bitcoin, the largest cryptocurrency by market capitalization, has fallen slightly below $58,000, while the overall market capitalization remains relatively flat.
Federal Reserve Interest Rate Cuts Loom Large
The market is eagerly awaiting the Federal Reserve’s next move on interest rates, with a 57% chance of a 25 basis point rate cut and a 43% chance of a 50 basis point rate cut predicted by CME FedWatch. This uncertainty is weighing on market sentiment, with investors cautious about making bold moves.
Stock Market Correlation Intensifies
The correlation between the stock market and cryptocurrency market has strengthened in recent weeks, making it essential to keep a close eye on stock market movements. New York Stock Exchange stock index futures are currently in a strong consolidation, which could have a ripple effect on the cryptocurrency market.
Uncertainty Surrounds US Presidential Election and Geopolitical Tensions
The ongoing uncertainty surrounding the US presidential election, potential yen appreciation, and geopolitical tensions are all contributing to a cautious market sentiment. Investors are hesitant to take on risk, leading to a lack of clear direction in the market.
Investment Sentiment Shrinks
Bitcoin spot ETFs in the US stock market recorded a small net inflow, but Ethereum spot ETFs saw money flow out again, indicating a shrinking investment sentiment in the digital asset market. The fear and greed index in the cryptocurrency market remains at 33, indicating a state of fear.
Market Capitalization and Trading Volume
As of 8:23 am New York time on September 13th, the cryptocurrency market capitalization on CoinMarketCap stands at $2.4 trillion, down 0.15% from 24 hours ago. The 24-hour trading volume of the cryptocurrency market is $58.9 billion, down 14.54%. Bitcoin dominance is at 56.1%, while Ethereum dominance is at 13.9%.
Bitcoin and Ethereum Price Action
Bitcoin is currently trading at $57,781, down 0.53% from 24 hours ago. The cryptocurrency is fluctuating between $57,500 and $58,500, correcting from its all-time high of $73,750.07 on March 14. Ethereum is trading at $2,349, down 0.10% from 24 hours ago, with its all-time high at $4,891.70 on November 16, 2021.
Altcoin Performance
Other altcoins in the top 10 by market capitalization have shown mixed performances over the past 24 hours. BNB is up 0.12%, XRP is up 4.98%, Dogecoin is up 2.26%, and TON is up 2.93%. Solana is down 1.93%, and Tron is down 2.25%, respectively.
Bitcoin Futures
Bitcoin futures for September delivery on the Chicago Mercantile Exchange (CME) fell 0.91% to $58,045, October futures fell 0.81% to $58,535.
the cryptocurrency market remains range-bound as the New York Stock Exchange opens, with investors awaiting the Federal Reserve’s next move on interest rates. The correlation between the stock market and cryptocurrency market has strengthened, making it essential to keep a close eye on stock market movements. Investment sentiment remains cautious, with a lack of clear direction in the market.
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Cryptocurrency Market Remains Range-Bound Ahead of New York Stock Exchange Opening
As the New York Stock Exchange (NYSE) prepares to open on the 13th, the cryptocurrency market continues to trade within its range, exploring its direction amidst mixed market sentiment. Bitcoin (BTC) has fallen slightly below $58,000, while Ethereum (ETH) remains stuck in a consolidation phase.
Federal Reserve Rate Cut Expectations
The outlook for the Federal Reserve’s next rate cut remains mixed, with market participants split on whether the central bank will cut its benchmark interest rate by 25 basis points (bp) or 50bp. According to CME FedWatch, there is a 57% chance of a 25bp cut and a 43% chance of a 50bp cut. This uncertainty is likely to keep the market on edge, with investors waiting for clues on the Fed’s next move.
Stock Market Correlation
The trend of the cryptocurrency market has recently strengthened its correlation with the stock market, making it essential to pay attention to the stock market movement. The New York Stock Exchange stock index futures are currently in a strong consolidation, which could have implications for the cryptocurrency market.
Market Sentiment
Continued uncertainty surrounding the U.S. presidential election, the potential for further yen appreciation, and geopolitical tensions are weighing on market sentiment. The fear and greed index in the cryptocurrency market is still indicating a state of fear at 33. Bitcoin spot ETFs in the US stock market recorded a small net inflow the previous day, but Ethereum spot ETFs saw money flow out again, indicating that investment sentiment in the digital asset market is still shrinking.
Cryptocurrency Market Capitalization
As of 8:23 a.m. on the 13th, New York time, the cryptocurrency market capitalization on CoinMarketCap was $2.4 trillion, down 0.15% from 24 hours ago. The 24-hour trading volume of the cryptocurrency market was $58.9 billion, down 14.54%. Bitcoin dominance was 56.1%, and Ethereum dominance was 13.9%.
Bitcoin and Ethereum Prices
Bitcoin is currently trading at $57,781 on CoinMarketCap, down 0.53% from 24 hours ago. Bitcoin is generally fluctuating between $57,500 and $58,500, still correcting from its all-time high of $73,750.07 on March 14. Ethereum is trading at $2,349, down 0.10% from 24 hours ago, still far from its all-time high of $4,891.70 on November 16, 2021.
Altcoin Performances
Other altcoins in the top 10 by market cap have shown mixed performances over the past 24 hours. BNB advanced by 0.12%, XRP by 4.98%, Dogecoin by 2.26%, and TON by 2.93%. Solana and Tron are up
