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Prolonged waiting period for Bitcoin ETF approval adds to the negative market sentiment

By August 17, 2023August 18th, 20232 minute read

Anticipated changes in regulations around the upcoming elections have dampened the excitement surrounding the Crypto market in the United States, impacting the prices of key tokens such as BTC and ETH which decreased by 2.22% and 1.85% respectively over the last 24 hours.

The Exponential Moving Average for 10-day EMA indicates β€œSell” at 29102 and 200-day EMA indicates β€œBuy” at 27315. The Simple Moving Average for 10-day SMA indicates β€œSell” at 29269 and 200-day SMA indicates β€œBuy” at 27284. 

The Ichimoku Base Line, valued at 29321, continues to be neutral. The Hull Moving Average indicates β€œSell” at 28765. The Volume Weighted Moving Average indicates β€œSell” at 29304.

Major market oscillators point to a β€œBuy” sentiment. The Relative Strength Index (14) sits at 36, with a neutral outlook. The Stochastic %K (14, 3, 3) at 16 and the Average Directional Index (14) at 13 indicate a Neutral outlook. 

The MACD Level (12, 26), at -171, indicates β€œBuy”. The Stochastic RSI Fast (3, 3, 14, 14) is β€œNeutral” at 7 and William’s Percentage indicates a β€œBuy” sentiment at -86.

As of 10:00 AM, 17th August 2023, on WazirX, Bitcoin’s current price is β‚Ή25,09,246. There was a 0.08% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 0.19%.

Ethereum (ETH) is trading at β‚Ή1,56,500. There was a decrease of 1.57% in the last 24 hours. The 7-day ETH is down by 1.88%.

The top gainers on WazirX include Hifi Finance (HIFI), Loom Network (LOOM), and Nem (XEM), with price increases of 7.82%, 6.27%, and 5.87%, respectively.

However, the tokens that underperformed comprised Combo (Combo), DFI.Money (YFII), and Bob (BOB), with a price decrease of 15.33%, 13.21%, and 13.05%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.25% and is now priced at β‚Ή0.000806. Dogecoin (DOGE) saw a decrease of 2.32% and is now priced at β‚Ή5.94.

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