The US stock market may be winding down, but the crypto market is just getting started! According to a recent tweet from blockchain intelligence firm Santiment, Bitcoin (BTC) and Ethereum (ETH) both climbed while the US stock market declined yesterday. That’s right, while traditional stocks were taking a breather, the two crypto market leaders were gaining ground.
Santiment’s tweet revealed that BTC had made a move towards $28.5k, while ETH climbed towards $1,900. CoinMarketCap’s data also shows that the global crypto market has risen 2.75% over the last 24 hours, taking the total to approximately $1.18 trillion. It seems like the crypto market is heating up, even when the stock market cools down.
Historically, the crypto market has had a close correlation with the S&P 500, often echoing the movements of the index. However, Santiment’s recent tweet suggests that the crypto market may be in the early stages of breaking its correlation with the S&P 500. This is exciting news for crypto enthusiasts, who have been eagerly waiting for the market to mature and develop its own unique movements.
But what does this mean for the future of Bitcoin and Ethereum? According to technicals on BTC’s daily chart, its price is expected to continue climbing in the next 24-48 hours. This is great news for those holding BTC, as the cryptocurrency has been hovering around the $30k mark for the past few weeks.
Meanwhile, ETH’s price has also been on the rise. At the time of writing, it stands at $1,868.73 after climbing over 2% in the last 24 hours. This is a promising sign for ETH investors, who have been waiting for the cryptocurrency to recover from its recent dip.
It’s important to note that the crypto market is still volatile, and prices can fluctuate rapidly. However, the recent surge in BTC and ETH prices is a positive sign for the overall health of the crypto market. As more investors begin to recognize the potential of cryptocurrencies, we can expect to see even more growth in the future.
In the meantime, crypto enthusiasts can continue to watch the market closely and take advantage of any opportunities that arise. With BTC and ETH both on the rise, now might be a good time to buy in and take advantage of the upward trend. Just remember to do your research and invest wisely.
In summary, the crypto market is heating up while the stock market cools down. BTC and ETH are both on the rise, with technicals suggesting that BTC’s price will continue climbing in the next 24-48 hours. This is exciting news for crypto enthusiasts, who have been waiting for the market to mature and develop its own unique movements. As the crypto market continues to evolve, we can expect to see even more growth and opportunities in the future.
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