Bitcoin is activated November 17 largely unchanged but remains under pressure as crypto financial services provider Genesis Trading suspended withdrawals from its lending division, citing “extraordinary market instability” caused by the FTX Collapse by Sam Bankman was caused. Ethereum, the second most valuable cryptocurrency, is also trading sideways, with a price range of $1,175 to $1,280.
Global Crypto Market Cap Has Fallen More Than The Day Before 1% to $835 billion and sent major cryptocurrencies to November 17 early in the red. Who fell in the last 24 hours Total crypto market volume increased by more than 3% to $60.72 billion.
This Total DeFi volume was $3.30 billion, What 5% of total volume over 24 hours in the crypto market. This total volume of all stable coins was $57.26 billion, what about 94% of total volume over 24 hours of the crypto market.
Let’s take a look at the top altcoin gainers and losers over the past 24 hours.
Top altcoin winners and losers
Chiliz (CHZ)Stacks (STX) and Arweave (AR) are three of top 100 coins, those of the last 24 hours gained in value. Of the CHZ price is more than Up to 13% at $0.2285the STX price up more than 5% at $0.2385, and the AR Price is almost 5% more.
Trust Wallet Token (TWT) is down over 15% in the past 24 hours and is trading at $1.96. GMX (GMX) is down more than 12% in the past 24 hours and is now trading at $39.5.
Risk trigger: Genesis Trading stops withdrawals
The cryptocurrency market is going after the news that Genesis Trading has halted cryptocurrency withdrawals traded with bearish sentiment. Acting CEO Derar Islam informed clients that the loan arm of Genesis Global Trading will temporarily suspend redemptions and new loans following the collapse of FTX.
genesis world capital the business unit concerned, is intended for institutional clients and had at the end of the third quarter of 2022 $2.8 billion in active loans, according to the company’s website. Islam pointed out that Genesis Trading, the broker/dealer division of Genesis Global Capital, is self-funded and separate from the credit division.
Those rendered by Genesis trading and custody services still work well, he added. During the conference call, Islam informed the audience that Genesis is currently evaluating options for the Credit Zone, for example. B. the search for a new source of liquidity. Genesis will be next week Clients provide additional information, he said.
the Digital Currency Group (DCG), controlling Genesis is also Owner of CoinDesk. A statement released by DCG’s Vice President of Communications and Marketing, amanda cowie, published was as follows:
“Today Genesis Global Capital, the lending business of Genesis, made the difficult decision to temporarily suspend repayments and new lending.” This move was made in response to the “extreme market dislocation and loss of confidence in the industry” caused by the FTX implosion.
With continued uncertainty in the cryptocurrency market, overall business sentiment remains negative.
bitcoin price
Of the current bitcoin price lies by $16,526, and the 24-hour trading volume is $34 billion. Bitcoin is in the up less than 2% in the last 24 hours. CoinMarketCap currently leads Bitcoin with a live market cap of $349 billion from $324 billion.
This the maximum supply is 21,000,000 BTC coins and traffic Offered at 19,208,887 BTC coins.
Bitcoin’s technicals haven’t changed much as it continues to trade in perfect alignment with our previous Bitcoin price prediction. Bitcoin stabilized himself in a wide trading range from $18,000 to $16,000, with a breakout determining future price action.
On the 4 hour time slot has bitcoin one 38.2% Fibonacci retracement at $18,100 completed and is now stable. A positive cross occurs when the price exceeds $18,100.
At this point, the Bitcoin price could dem Fibonacci level of 61.8% of $19,350 exposed be. Bitcoin could fall below $15,965, if he fails, the 38.2% Fibonacci Retracement Barrier of $18,250 at breakthrough
Of the MACD turned into buy range moves, while the 50-day moving average and the relative strength index (RSI) remain down. If bitcoin closes remain below $18,000, the currency’s slide is likely to continue; nearby support levels are $16,000 and $15,850.
Ether price
The current price of Ethereum is at $1,213, with a 24-hour trading volume of $12 billion. Ethereum has risen in the last 24 hours down more than 2.5%. with a liveMarket capitalization of $148 billion Ethereum currently ranks second on CoinMarketCap. There exists a circulating stock of 122,373,866 ETH coins.
A bullish retracement has occurred on the daily chart and Ethereum has broken above the Recovered $1,262. The 50-day moving average provides an immediate resistance barrier for Ethereum maintained bullish crosses above $1,370 be, could become the recovery accelerate to $1,506 or $1,670.
The support is always there at $1,170 or $1,095. If ETH falls below this level, it could become the Mark of $1,000 or $881 approaching, but it is unlikely at this time.
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