Bitcoin Falls Below This Key Level; FTX Token, Lido DAO Among Top Losers
Portfolio Pulse from Lisa Levin
Bitcoin and Ethereum have fallen below key levels of $37,000 and $2,000 respectively. The global crypto market cap declined by 2.8% to $1.38 trillion. FTX Token and Lido DAO were among the top losers, while Mantle led the gainers. FTX Token saw an 18.1% drop, and Lido DAO fell by 11%. Other notable gainers include Dogecoin, Monero, NEAR Protocol, and yearn.finance.
November 17, 2023 | 2:36 pm
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NEGATIVE IMPACT
Bitcoin has fallen below the $37,000 level, indicating a bearish sentiment in the short term.
Bitcoin's fall below a key psychological level often leads to a negative short-term impact on its price as it may trigger sell-offs.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Ethereum trading below $2,000 could lead to increased selling pressure in the short term.
Ethereum's drop below a significant level may result in bearish momentum as it is a critical support level for the asset.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
FTX Token experienced a significant loss of 18.1%, which could continue to negatively impact its price in the short term.
A substantial drop like the one FTX Token experienced often leads to a negative feedback loop, causing further short-term declines.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEGATIVE IMPACT
Lido DAO's price decreased by 11%, which may lead to short-term bearish sentiment among investors.
Double-digit percentage drops typically result in negative investor sentiment and could lead to further price decreases in the short term.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100