On September 20, the situation in the cryptocurrency market is as follows: the value of the most popular cryptocurrency, Bitcoin, continues to grow. Now it is in the range of up to $ 10,207.54 (+3.13%) - reports Coinmarketcap. Ether hit $ 218.27 (+ 5.79%), while XRP jumped 1% to $ 0.294.
According to Bitwise, the main reasons for launching Bitcoin ETFs are the availability of vaults, high performance indicators of the spot and futures markets. At the same time, trading on the futures and cryptomarkets has the lowest rates compared to the previous months.
FxPro analysts say bitcoin has gained more than 3% and its dominance rate has stalled at just above 67% (which is a nice reversal in the last time frame). Due to geopolitical turmoil, the lack of a large number of security requirements and the growing popularity of altcoins, bitcoin yesterday dropped to $ 9,900 or less. It was assumed that the fall would not stop, but only if it was stable at $ 10,000 and further growth in the number of sales.
But the currency quickly began to sell out, which became the reason for the current exchange rate. Futures continue to support the mainstream cryptocurrency. Unfortunately, there is a risk of future problems.
The new instrument may not influence price dynamics as much as expected. Subsequently, there may be a deterioration in mood and a sale (if expectations do not correspond to reality).
We are currently in a sideways trend, but the current approach to such a situation can negatively affect the bitcoin rate, and this will be beneficial for the altcoin market.