Bitcoin, Ethereum Trade Lower, Dogecoin Rises As Stock Futures Slip Into Red — Analyst Says King Crypto 'Here To Stay' Despite Bear Market's 490-Day Length
Portfolio Pulse from Shivdeep Dhaliwal
Major cryptocurrencies were mixed on Wednesday evening with Bitcoin and Ethereum trading in the red while Dogecoin saw gains of nearly 2%. Bitcoin's price movement tracked Nasdaq futures, which slipped into the red after Netflix and Tesla posted their quarterly results. Analysts continue to await Bitcoin ETF updates and note that Bitcoin is 'here to stay' despite the length of the bear market. Cryptocurrency intelligence platform Santiment noted that whales and sharks have been accumulating Paxos Standard (USDP) stablecoin in July.
July 20, 2023 | 3:31 am
News sentiment analysis
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POSITIVE IMPACT
Dogecoin saw gains of nearly 2% on Wednesday evening.
Dogecoin's price movement is directly influenced by market sentiment and news. The bullish trend for Dogecoin could positively impact its price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Bitcoin traded in the red, tracking Nasdaq futures. Analysts await Bitcoin ETF updates and affirm Bitcoin is 'here to stay' despite bear market.
Bitcoin's price movement is directly influenced by market sentiment and news. The bearish trend in Nasdaq futures and the ongoing bear market could negatively impact Bitcoin's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum traded in the red on Wednesday evening.
Ethereum's price movement is directly influenced by market sentiment and news. The bearish trend in the overall crypto market could negatively impact Ethereum's price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80