Bitcoin, Ethereum, Dogecoin Rise Amid Broader Uptick For Risk Assets: Analyst Warns Apex Crypto Yet To See Death Cross After Brief Rally
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin rose on Wednesday evening as traditional markets showed signs of recovery. The crypto market movements were influenced by the latest jobs data, which showed an addition of 89,000 private payrolls last month, significantly below the forecast of 160,000. The global crypto market capitalization stands at $1.08 trillion, a 0.98% decrease in the last day. Analysts emphasize the importance of key levels for Bitcoin, suggesting that maintaining a position above $27,200 would support further upward momentum.
October 05, 2023 | 2:58 am
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POSITIVE IMPACT
Bitcoin rose by 1.03% to $27,690. Analysts suggest that maintaining a position above $27,200 would support further upward momentum.
The rise in Bitcoin's price and the analysts' emphasis on the importance of maintaining a position above a certain level suggest a positive short-term impact on the asset. The global crypto market trends and the recovery in traditional markets also support this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dogecoin rose by 0.42% to $0.061 amid a broader uptick in the crypto market.
The rise in Dogecoin's price and the broader uptick in the crypto market suggest a positive short-term impact on the asset. The recovery in traditional markets also supports this.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ethereum rose by 0.11% to $1,644 amid a broader uptick in the crypto market.
The rise in Ethereum's price and the broader uptick in the crypto market suggest a positive short-term impact on the asset. The recovery in traditional markets also supports this.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80