Maker

Bitcoin

Dogecoin

<div class="dailyhodl"> 
 <p>The flagship crypto asset could surge depending on what one major macro indicator does next, according to analytics platform Santiment.</p> 
 <p>The analytics firm reports that the US dollar index (DXY) has reached a ten-month high, causing a decline in crypto assets and the S&amp;P 500 stocks index.</p> 
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">    
 </div> 
 <p>According to Santiment, Bitcoin (BTC) has remained at a break-even point during the past two weeks, unlike the S&amp;P 500 index which has fallen by 5% over the same period, despite the strong dollar. This may “indicate a breakout could come once the DXY settles down.”</p> 
 <figure style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F7DCUT0bUAALpsu?format=jpg&amp;name=small" alt="Image" width="680" height="459"> 
  <figcaption class="wp-caption-text">
    Source: Santiment/X 
  </figcaption> 
 </figure> 
 <p>Bitcoin is trading at $26,459 at time of writing.</p> 
 <p>Turning to altcoins, Santiment says that caution is warranted on Maker (MKR) amid the native token of decentralized finance project Maker Protocol rallying by over 40% in slightly over a fortnight to hit a 16-month high.</p> 
 <p><i>“An inflow of MKR moving to exchanges is something to be cautious of for at least a temporary local top.”</i></p> 
 <figure style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F7E-YQkboAALhMn?format=jpg&amp;name=small" alt="Image" width="680" height="464"> 
  <figcaption class="wp-caption-text">
    Source: Santiment/X 
  </figcaption> 
 </figure> 
 <p>Maker is trading at $1,520 at time of writing.</p> 
 <p>On memecoins such as Dogecoin (DOGE), Santiment says,</p> 
 <p><i>“As altcoins have seen more declines than gains since the mid-July crypto market local top, memecoins are showing a smaller ratio of overall trader interest than they have in some time. Particularly, DOGE has the lowest discussion rate since 2020.”</i></p> 
 <figure style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" loading="lazy" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/F7DoET_aIAARhnT?format=jpg&amp;name=small" alt="Image" width="680" height="461"> 
  <figcaption class="wp-caption-text">
    Source: Santiment/X 
  </figcaption> 
 </figure> 
 <p>Dogecoin is trading at $0.0609 at time of writing, down by around 27% from the five-month high of $0.0838 reached in July.</p> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-could-erupt-once-this-surging-asset-settles-down-according-to-crypto-analytics-firm-santiment-tbt64480.html">https://thebittimes.com/bitcoin-could-erupt-once-this-surging-asset-settles-down-according-to-crypto-analytics-firm-santiment-tbt64480.html</a></p>

Bitcoin Could Erupt Once This Surging Asset ‘Settles Down’, According to Crypto Analytics Firm Santiment

TheBitTimes

Other articles published on Sep 29, 2023

Cryptocurrency Exchange Gemini to Cease Services in the Netherlands

Valkyrie backtracks on Ether futures contract purchases until ETF launch

SEC Delays Decision on Bitcoin ETF Applications from BlackRock, Invesco and Bitwise

What is Ethereum ETF, and how could VanEck’s launch impact crypto?

Analyst Forecasts Bullish Future for Bitcoin (BTC) But Advises Caution at This Level; Identifies ...

Dormant Whale Invests Quarter Million in Shiba Inu’s BONE, Borroe.Finance and Immutable Fight for...

Join our free newsletter for daily crypto updates!