It is still very quiet on the crypto market. The prices of the largest currencies on the market have seldom been as stable as this summer. Still, there are a few outliers in the top 100 today.
Total cryptocurrency market cap down 0.1% to $1.216 trillion. Trading volume is up 10.5% to $26.09 billion. Bitcoin dominance stands at 48.8%. The Fear & Greed Index is 53, i.e. neutral.
The Bitcoin Fear and Greed Index is at 53 – Neutral
Current price: $29,414 pic.twitter.com/3NnejEcv61
– Bitcoin Fear and Greed Index (@BitcoinFear) August 15, 2023
Bitcoin volatility hits an all-time low
Bitcoin (BTC) volatility is currently at an all-time low. Data from The Block shows that volatility is even one all-time low has reached.
Bitcoin volatility hits an all-time low as trading volume plummets pic.twitter.com/kprpebWEFB
– unfolded. (@cryptounfolded) August 14, 2023
This is mainly due to the lack of liquidity and the extremely low trading volume. Analyst Axel Adler Jr. even calls the current market a “macro crypto winter.” The spot volume has now reached the historically low level of 2020.
The BTC market has entered a macroeconomic “crypto winter.” 🥶
Trading volume on the spot market has fallen to historic lows of 2020. The trading volume with taker orders and the volume of derivatives are approaching the level of the New Year holidays.
— Axel 💎🙌 Adler Jr (@AxelAdlerJr) August 15, 2023
Nevertheless, a violent price breakout is usually followed by a long period of consolidation. However, this has not happened for the time being and August is historically not a month of big moves.
Nonetheless, Bitcoin saw a rapid surge yesterday, reaching nearly $29,700. Bitcoin had to break through this zone to maintain momentum, but immediately fell back, even briefly dropping to $29,250. This morning, BTC price is $29,330 on Bybit and $26,879 on Bitvavo. Bitcoin price is therefore down 0.1% today.
key resistance for #Bitcoin ranges from $29,660 to $30,540, with 2.09 million addresses buying 874,570 #BTC in this area. A breakthrough would be a significant win for #BTC. pic.twitter.com/QcBxbRBFDd
— Ali (@ali_charts) August 14, 2023
Ethereum turns red today
Ethereum (ETH) held up better than Bitcoin early in the cycle but is struggling a bit right now. ETH price briefly peaked at $1,860 but then plummeted to $1,834. At the time of writing, ETH price is looking for support around $1,840 and it is down 0.4% today.
In the previous bear market, Ethereum gave up all of its gains against BTC.
But not this time.
ETH is up about 300% against BTC and is staying there. pic.twitter.com/Cv00IHSjfL
— Ecoinometrics (@ecoinometry) August 13, 2023
Solana is the only climber in the top 10 red cryptocurrencies
The remaining top 10 of the largest altcoins are also predominantly turning red. Shiba Inu (SHIB) is the biggest loser today, falling 1.7% to $0.00001021. Polkadot (DOT) is down 0.9% to $4.95. Dogecoin (DOGE) is also down 0.9% to $0.074. Polygon (MATIC) loses 0.8% of its value, falling to $0.674.
Binance Coin (BNB) is down 0.4% to $239. Ripple (XRP) is down just 0.2% to $0.077. Cardano (ADA) is also down just 0.2%, falling to $0.289.
Still, there is one exception in the top 10 today: Solana (SOL). SOL price was able to rally sharply last night but was rejected just above $25 and is falling to $24.9 at the time of writing. That means SOL is up 2% today.
High volume bullish engulfing candle.
Should pass tomorrow pic.twitter.com/rmpbAlT2yh
— Nebraskangooner (@Nebraskangooner) August 14, 2023
Flex Coin, Hedera and Thorchain are the strongest climbers in the crypto top 100
Although the top 10 seems strangely calm, there is more excitement in the top 100. On the red side today, we see xdc network (XDC) down 4% and injective (INJ) down 5%. However, Kaspa (KAS) is the biggest loser, falling nearly 11% to $0.039.
On the other hand, we also have some strong climbers. Frax stock (FXS) and Toncoin (TON) are up about 4.5%. Flex Coin (FLEX) is already up 12% to $7.13.
Hedera (HBAR) made another big jump last night and is already up 13.5% today. Priced at $0.073, HBAR is up nearly 30% over the past few days. This ties in with the following news about FedNow, the payments service developed by the US Federal Reserve.
— HBAR Foundation (@HBAR_foundation) August 14, 2023
Thorchain (RUNE) also made a big leap last night. RUNE price stands at $1.58 after a 14.5% surge. This makes RUNE the big winner of today’s top 100. RUNE is up almost 70% compared to last week.
— Abror TA Abdukhalimov (@abror_ta) August 15, 2023
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