empty
29.11.2022 11:50 PM
Bitcoin reacts to news from China

Bitcoin started Tuesday morning by falling, but afterwards it grew. At the time of writing, the coin was trading at $16,365.

This image is no longer relevant

According to cryptocurrency price tracking website CoinMarketCap, Bitcoin reached a high at $16,358 and a low at $16,054 over the past 24 hours.

At the same time, on Monday, bearish sentiment prevailed in the cryptocurrency market and BTC tested weekly lows around $16,000. The key reason for bitcoin's fall from the day before was the decline in global stock markets amid mass protests against anti-Covid measures in China.

Recently, Chinese traders are seriously concerned about the "zero-Covid" policy in the state, as new and existing restrictive measures in China have a negative impact on the country's economic activity.

On Monday, local media reported daily record of COVID cases in China and the introduction of a number of new restrictions. On Sunday night, residents and students rallied in Shanghai against the authorities' harsh anti-COVID policy. Police dispersed protesters with gas canisters.

Against this backdrop, stock indices in Asia plummeted in the trading session on Monday. Negative sentiment later passed on to leading stock indicators in Western Europe.

US stock indicators also added pressure on the asset. Thus, at the close of trading on Monday, the S&P 500 lost 1.54%, NASDAQ Composite dropped by 1.58% and the Dow Jones Industrial Average fell by 1.45%.

Since the beginning of 2022 analysts increasingly began to emphasize the high level of correlation between the U.S. securities market and virtual assets amid tense expectations of both the consequences of the geopolitical conflict in eastern Europe and the further steps of the U.S. Federal Reserve.

Earlier, Arcane Research analysts already stated that bitcoin's correlation to tech stocks has climbed to highs not seen since July 2020.

In addition, economists from the analytical platform TradingView reported that the correlation of the cryptocurrency market with the U.S. stock market in the past quarter reached 70%.

Altcoin market

Ethereum, Bitcoin's main competitor, also started Tuesday with a decline, but later switched to growth. At the time of writing, the coin was trading at $1,208.

Crypto-experts suggest that ETH has two options ahead. If the coin crosses the resistance level around $1,280, it will soon face an important psychological mark of $1,300. A confident breakthrough above this level of resistance will provoke a tangible wave of recovery, when Ethereum can rise to $1,350 and later aim for $1,400.

If the altcoin fails to rise above the important key level of $1,300, it will start a new decline, where the initial level of support will be $1,225, analysts said. The next key support will be $1,200 and later $1,170. If the bulls do not protect Ethereum's support at $1,170, the altcoin risks collapsing to $1,100 in the near future.

As for cryptocurrencies from the top 10 by capitalization, all but a few stablecoins traded in the green zone during the day. Dogecoin (+8.8%) had the best results.

Dogecoin (+34.22%) also topped the list of the top ten strongest digital assets last week.

According to CoinGecko, the world's largest aggregator of data on virtual assets, in the last 24 hours, Fantom token (+16.7%) was in first place among the top 100 most capitalized digital assets in terms of growth, followed by Chainlink (+10.4%), while Chain coin (-10.31%) had the worst results.

At the end of last week, Chain (-12.20%) was also the worst performing digital asset in the top 100 of the strongest digital assets.

According to CoinGecko, as of Tuesday evening, the total market capitalization of cryptocurrencies failed to settle above the important key level of $850 billion and stands at $834.8 billion.

Since November 2021, when the total market capitalization of cryptocurrencies exceeded the $3 trillion level, it has more than tripled.

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

S&P、Nasdaq 和道瓊斯指數同步上揚,市場消化就業數據與貿易發展

華爾街再創新高 美股周四收盤再創歷史新高。儘管短期內降息的可能性較低,但投資者熱烈回應美國就業數據意外激增和Nvidia股票持續上漲。

13:11 2025-07-04 UTC+2

7月4日美國市場新聞摘要

S&P 500和納斯達克股票指數分別上漲了0.83%和1.02%,創下歷史新高。 但由於對可能引入新關稅的擔憂,指數期貨回落,這增加了全球市場的不確定性。

Ekaterina Kiseleva 12:45 2025-07-04 UTC+2

S&P、Nasdaq、道瓊斯指數齊升,市場因就業和貿易政策驚喜作出反應

週四,美國市場再創新高,投資者對近期降息的微弱希望不再寄予厚望,相反,他們對意外強勁的美國就業報告顯露出信心。同時,Nvidia的驚人增長仍在繼續,使這家芯片製造商更接近於達到歷史性的估值里程碑。

Thomas Frank 08:23 2025-07-04 UTC+2

什麼因素可能影響美元走勢:非農就業數據、美聯儲行動,還是「大而美的法案」?

華爾街不斷刷新紀錄。週三,由資訊科技巨頭推動的標普500指數再次創下新高。

Svetlana Radchenko 13:17 2025-07-03 UTC+2

7月3日美國市場新聞摘要

由於對科技股的持續需求以及美國與越南關於關稅的貿易協議獲得積極反饋,S&P 500 指數再次達到歷史新高。 投資者將此視為美國地緣經濟地位的強化,進一步增強了對美國股市前景的信心。

Ekaterina Kiseleva 12:58 2025-07-03 UTC+2

股票波動:納斯達克上升,S&P 上漲,道瓊斯下跌 — 背後另有原因

美國股市指數S&P 500和Nasdaq在週三收於歷史新高,主要由科技股的強勁上漲和美國與越南達成的新貿易協議推動。該協議幫助緩解了投資者對持續的全球貿易緊張局勢的擔憂。

Thomas Frank 10:28 2025-07-03 UTC+2

7月2日美國市場新聞摘要

S&P 500指數下跌0.11%,納斯達克100指數下跌0.82%,而道瓊斯指數則上漲0.91%。投資者正在等待宏觀經濟數據的發布,這些數據可能會影響美聯儲的下一步政策決策。

Ekaterina Kiseleva 12:32 2025-07-02 UTC+2

特斯拉下跌,歐洲上升:全球市場現在發生了什麼

全球股市週二小幅下滑,同時美國國債收益率微升。投資者正密切分析美國經濟數據潮流,並衡量美聯儲主席杰羅姆·鮑威爾的言論,以評估何時開始降息。

Thomas Frank 10:56 2025-07-02 UTC+2

股市上揚:是什麼推動道瓊、納斯達克和標普上升

週一,標普500指數與納斯達克指數在創歷史新高後收盤,這標誌著它們在過去一年中最強勁的季度表現。投資者情緒因貿易談判的樂觀前景和降息的可能性而得到提升。

Thomas Frank 12:11 2025-07-01 UTC+2

7月1日美國市場新聞摘要

週一的交易以正面收尾:S&P 500 上漲了 0.52%,而納斯達克 100 則增加了 0.47%。今年下半年的開端是在美國與歐盟貿易協定抱有樂觀期望的背景下展開的。

Ekaterina Kiseleva 11:43 2025-07-01 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.