Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Monero — American Wrap 24 September
|Crypto Today: Bitcoin, Ethereum and XRP consolidate as SUI continues impressive run
Bitcoin traded around $63,600 on Tuesday, as prices appear to be consolidating within the $62,000 and $64,700 key levels. On-chain data shows that the consolidation may be due to profit-taking by holders and mild Bitcoin ETF net inflows of $4.5 million, per Farside Investors data.
Bitcoin holds steady above $62,000 amid profit-taking and mild decline in institutional demand
Bitcoin (BTC) trades around $63,800 on Tuesday, consolidating within the $62,000 and $64,700 key levels. At the same time, on-chain data indicates short-term consolidation due to profit-taking by holders, mild spot BTC Exchange Traded Funds (ETF) inflows, and weakening spot buying pressure.
Monero price is poised for a decline following rejection from key resistance
Monero (XMR), a privacy-centric cryptocurrency, continues to decline on Tuesday after facing rejection for resitance barrier on Monday. On-chain data hints at a bearish sentiment among XMR’s traders as its long-to-short ratio trades below one, suggesting a decline in Monero’s price ahead.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.