Cryptocurrencies need a driver

Daily Cryptocurrency expert market comment from FxPro Analyst Alex Kuptsikevich: Cryptocurrencies need a driver

FxPro | Před 1339 dny

Cryptocurrencies need a driver

Market picture

Bitcoin has gained 2.8% over the past 24 hours to $19750 but remains broadly zen. Against the backdrop of falling equity markets, the first cryptocurrency's balanced moves looked like a sign of domestic strength. But yesterday, the equity market marked a sharper rise than cryptocurrencies.

Bitcoin is one move away from the top end of its trading range ($20300). But only a solid consolidation above this boundary should be considered a meaningful bullish signal.

Ethereum is lying at its 200-week moving average for the third week. Perhaps the entire crypto market lacks an important external driver to switch to growth, although no meaningful decline exists.

News background

According to CoinShares, investments in cryptocurrencies increased by $10 million last week. The figure rose for the third week in a row, but the scale of investment indicates continued indecision. Bitcoin investments rose by $8m, Ethereum by $6m, and investments to short bitcoin rose by $2m.

According to CryptoQuant, bitcoin outflows from cryptocurrency exchanges have recently intensified, which could be seen as a bullish signal.

US Senator Cynthia Lummis has expressed concerns about the national debt and rising inflation in the US. In her view, citizens should invest in bitcoin to preserve their funds.

According to Nomics, some 12,100 cryptocurrencies have effectively stopped trading this year, turning into "zombies". Technically, the coins exist but have not shown trading volumes for at least a month.

FxPro Analyst Team

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430 recenzí

Typ: NDD

Regulace: FCA (UK), SCB (The Bahamas)

Značky : Analýza

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Headway | Před 4 h 1 min

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Gold has begun to stabilize following a sharp decline that pushed prices down to a low of $4,423. The precious metal has managed to recover from those lows and is currently trading above the 20-period moving average, indicating that buyers are attempting to regain short-term control.

STARTRADER | Před 7 h 44 min

Today Fundamental Analysis: US indices retreat from their record highs on profit taking and cautions sentiment

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STARTRADER | Před 9 h 11 min

Israel threatens further action against Iran if necessary; Fed Beige Book warns inflation is hitting economic activity

Netanyahu warns of further Iran strikes, pushing WTI to $96.60. DXY advances to 99.50, approaching key 100.00 level. Fed Beige Book flags inflation hitting consumer spending. ISM Services beats at 54.5, ADP surprises to the upside. Gold drops below $4,450, Dow falls 600 points. Jobless claims and NFP tomorrow in focus.

CPT Markets | Před 10 h 43 min

Risk-off eases on Israel-Lebanon ceasefire, yen pinned near 160

Israel and Lebanon announce ceasefire, reviving peace hopes. But oil and dollar only marginally lower as caution prevails. Yen struggles near 160 per dollar despite Ueda’s hawkish tilt. Wall Street snaps winning streak; more losses likely as Broadcom misses guidance

XM Group | Před 10 h 49 min

Gold and Silver Rebound as Ceasefire Optimism Pressures US Dollar | 4th June, 2026

Global markets are turning risk-on as the Israel-Lebanon ceasefire eases geopolitical tensions and weakens safe-haven USD demand. Gold and Silver are recovering, while oil prices retreat as supply concerns fade. AUD gains on stronger trade data, while CAD remains pressured by the widening Fed-BoC policy gap.

Moneta Markets | Před 11 h 3 min

NVIDIA Sees Temporary Setback Despite Robust Earnings and Buybacks

Shareholder returns and AI growth drive attention, but short-term profit-taking pressures NVIDIA below key resistance.

VT Markets | Před 11 h 16 min

Gold Remains Under Pressure, but a Rebound Is Still Possible

Gold prices rose to 4,472 USD per troy ounce on Thursday. Despite the modest rebound, the precious metal is still attempting to recover from a weekly decline of nearly 2%.

RoboForex | Před 11 h 40 min

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EURUSD	1.16092	GBPUSD	1.34215	AUDUSD	0.71334
USDJPY	160.041	USDCAD	1.39088	USDCHF	0.78968