Bitcoin, Ethereum, Dogecoin Crash Again – Will ‘supply shock’ lead to next crypto rally? – Bitcoin – US Dollar ($BTC)

Bitcoin, Ethereum, Dogecoin Slump Again — Will 'Supply Shock' Drive The Next Crypto Rally?

Major coins were subdued over the weekend and traded in the red on Sunday, with the global cryptocurrency market cap dropping 2.3% to $1.7 trillion.

Price performance of major coins
Piece of money 24 hours 7 days Price
Bitcoin (CRYPTO: BTC) -2% -0.8% $38,123.69
Ethereum (CRYPTO:ETH) -1.5% -0.4% $2,534.38
Dogecoin (CRYPT: DOGE) -3.05% -7.1% $0.11
Top 24 hour gainers (data via CoinMarketCap)
Cryptocurrency % change over 24 hours (+/-) Price
The graphic (TSO) +3.5% $0.33
THOR chain (THOR) +2.9% $6.57
Zcash (zec) +2.6% $154.74

See also: How to buy bitcoins (BTC)

Why is this important: Managing Director of the International Monetary Fund Kristalina Georgieva said on Saturday that Russia could default on its debts due to global sanctions, adding that a default would not trigger a global financial crisis just yet, according to a Reuters report report.

Meanwhile, Ukraine is calling for direct talks between the President Volodymyr Zelensky and his Russian counterpart Vladimir Poutine. On Friday, Putin said there had been “positive changes” in the talks between the two countries. The next round of talks between Russia and Ukraine are due to take place on Monday, according to a separate Reuters statement. report.

The shares were trading higher at press time against cryptocurrencies. S&P 500 and Nasdaq futures were both up 0.7% at 4,220.25 and 13,383.25, respectively, at press time. Oil and gold futures were down.

Over the weekend, a comparison of major assets by market capitalization indicates that Bitcoin, Ripple and Binance Coin show signs of “traders expecting price increases”.

Trader sentiment is negative on Peasaccording to a tweet from Sanimenta financial markets data and content platform.

Illiquid Supply Shock Ratio, a metric developed by the analyst Will Clement, has been rising recently, according to on-chain analytics firm Glassnode. Illiquid bitcoin supply refers to coins in wallets with little spending history. This supply is now 3.2 times larger than the liquid and very liquid supply combined.

Glassnode Founders Jean & Yann tweeted that the growing supply of illiquid Bitcoin coupled with the dwindling supply of liquid means there are “fewer coins available to meet demand.”

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