The crypto market just declined slightly and has seen Bitcoin fall below $64,000.
The fear and greed index has also shifted towards a more fearful neutral.
As expected, several altcoins have seen gains while others have experienced losses.
The same is true for Leveraged traders with the current surge in liquidations totaling $93 million.
The cryptocurrencies to watch out for include Bitcoin, Ethereum, DogWifHat, Worldcoin and Starknet.
The crypto market has taken a small step backward again today, with a 0.8% decline in the last 24 hours and Bitcoin back below the $64,000 zone.
We now have $BTC trading at around $63,500 and Ethereum trading at a steady but slightly lower $2,610.
The crypto market’s heatmap
As shown, the crypto heatmap has turned almost completely red, with only about half of the altcoin market still showing green.
The crypto fear and greed index has also taken a step back from yesterday’s 53/100 reading to a slightly more fearful neutral of 48/100.
The crypto fear and greed index
This fear across the market is reflected in the gainer/loser dynamics, where the top gainers in the market include Worldcoin, Starknet, DogWifHat, injective, and Pendle. All the mentioned cryptocurrencies have price increases of between 6.15% to 14.24% in the last 24 hours.
On the flipside, some of the worst losers across the market include Conflux, Bitcoin SV, Fantom, Sui, and Aave, all with 3% to 4.74% price declines in the same timeframe.
The crypto liquidation heatmap
In the last 24 hours, the market’s leveraged traders have lost a combined $93 million, with the bulls taking the worst hit at around $66 million, compared to the bears’ $27 million.
This means that we are now seeing a small power shift into the hands of the bears.
Investors should therefore approach the market with caution today again.
As shown in the charts, Bitcoin is now trading near the upper trendline of the descending channel below.
This means that in a perfect market, a breakout and rally to the upside should be in the works.
Bitcoin’s price performance
However, as shown, Bitcoin has instead opted for a consolidation, as the bulls and bears hash things out.
So far, Bitcoin cannot be considered “ready for a rally” as long as it trades underneath this trendline (below $65,000).
If we do see this breakout and close above this price level, however, the resulting price pump is bound to take it back up to the $70,000 zone once again, with relative ease.
What’s Going on with Ethereum?
Ethereum, according to the charts, almost lost its standing above the $2,500 price level yesterday.
However, the bulls stepped in quickly and initiated a comeback, with the cryptocurrency now trading at around $2,610.
Ethereum’s price action around $2,500
From this, we can conclude that the $2,500, being a psychological price level, is a strong support.
In essence, Ethereum must remain above to prevent a steady decline toward the base of the descending channel shown above.
Worldcoin’s Time To Shine?
Worldcoin has been through a brutal phase of bearishness since crashing from its $12 all-time high in March.
The cryptocurrency crashed by a staggering 88% in the five months between March and August. It eventually hit a bottom of $1.35, where it consolidated for another month.
Worldcoin’s price action
According to the charts, Worldcoin showing early signs of a comeback, considering how it is now leading the rest of the altcoin market in terms of 24-hour gains.
To consider Worldcoin fully recovered though, we first have to see a break above its previous local high of $3.26, which is a good 50% move upwards.
This means that in addition to the 15% increase in the last 24 hours, Worldcoin still has to increase by another 50% to the upside to unlock its bullishness for the first time in five months.
Starknet has suffered from low volatility over the last month, as it consolidates along the $0.34 price support.
This time around, the cryptocurrency has emerged as one of the top altcoin gainers in the last 24 hours and has even broken above the psychological $0.45 resistance as illustrated:
Starknet’s price performance
If the bulls can press further for a return of this volatility, Starknet might have a whole 103% road ahead of it, to the psychologically bullish target of around $1.1.
In all, the cryptocurrency’s price action from here depends on its ability to stay above this $0.45 price level.
Further Upwards For DogWifHat?
All appears to be well with DogWifHat so far, considering its ongoing breakout from the falling wedge illustrated:
So far, there hasn’t been any sign of bearish influence yet, and the memecoin has already printed two green candlesticks.
DogWifHat’s price performance
It should, however, be noted that DogWifHat currently trades at $2.15.
But a significant resistance sits at around $2.5, where the bears will likely be waiting to cause a price rejection and a WIF retest of the wedge’s upper trendline once again.
Investors should approach DogWifHat with caution, and bear in mind that the rally back to $5 might not happen overnight.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.