Bitcoin, Ethereum, Dogecoin Flat Amid Inflation Fears: On-Chain Analytics Firm Says This Could Signal ETH 'On Its Way' To $2K
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, traded flat on Sunday evening amid inflation fears and political turmoil over the US debt ceiling. Analysts predict a potential drop in the altcoin markets, while on-chain analytics firm Santiment suggests Ethereum could be on its way to $2,000 if the profit-taking transactions ratio decreases.
June 05, 2023 | 2:35 am
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NEGATIVE IMPACT
Dogecoin traded flat amid inflation fears and political turmoil over the US debt ceiling, with analysts predicting a potential drop in the altcoin markets.
Dogecoin's price remained stable, but analysts predict a potential drop in the altcoin markets due to the ongoing inflation fears and political turmoil over the US debt ceiling. This suggests a negative short-term impact on Dogecoin's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Bitcoin traded flat amid inflation fears and political turmoil over the US debt ceiling, with a long target of $25,300 predicted by Crypto Tony.
Bitcoin's price remained stable despite the ongoing inflation fears and political turmoil over the US debt ceiling. Crypto Tony's prediction of a long target of $25,300 suggests that the price may not be significantly impacted in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Ethereum traded flat, but on-chain analytics firm Santiment suggests it could be on its way to $2,000 if the profit-taking transactions ratio decreases.
Ethereum's price remained stable, but Santiment's analysis indicates that if the profit-taking transactions ratio decreases, the price could potentially rise to $2,000. This suggests a positive short-term impact on Ethereum's price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100