Ethereum Falls Below $2,200; Celestia, SATS Among Top Losers
Portfolio Pulse from Avi Kapoor
Cryptocurrency prices fell with Bitcoin dropping below $42,000 and Ethereum below $2,200. The global crypto market cap decreased by 3.1% to $1.54 trillion. Astar was the top gainer, while Celestia was the biggest loser among the cryptocurrencies mentioned. Other notable gainers include Stacks, Helium, Bitget Token, and Injective, while SATS, Terra Classic, Internet Computer, and MultiversX were among the top losers.
December 18, 2023 | 2:37 pm
News sentiment analysis
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NEGATIVE IMPACT
Bitcoin fell below the key $42,000 level, trading lower by 2.1% at $41,019.
Bitcoin's price movement is a strong indicator of the overall sentiment in the cryptocurrency market. Falling below a key psychological level like $42,000 could trigger a negative short-term impact on its price as it may lead to increased selling pressure.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
MultiversX, formerly known as Elrond, fell by 10.5%, which could lead to further short-term depreciation.
The significant loss in MultiversX's value could result in continued bearish sentiment in the short term, potentially leading to further price declines.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ethereum recorded losses, trading below the key $2,200 mark at $2,129, a 3.8% decrease.
Ethereum's drop below a significant price level such as $2,200 could lead to bearish sentiment among investors, potentially causing a short-term negative impact on its price due to anticipated further declines.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Internet Computer experienced a significant drop of 10.8%, which may continue to affect its short-term price negatively.
A double-digit percentage drop in Internet Computer's price could lead to a negative short-term impact due to potential panic selling and loss of investor confidence.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Helium saw a 24-hour gain of 4.4%, indicating a positive short-term momentum.
Helium's price increase suggests a short-term bullish sentiment which could lead to further gains. However, the overall market downturn could temper the extent of positive impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70