• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Ethereum price

Ethereum Price Records 9% Rise, Why Traders Bet On More Profits

Reynaldo Marquez by Reynaldo Marquez
2 weeks ago
in Breaking News Ticker
Reading Time: 2 mins read
Advertisement

The Ethereum price has been trending to the upside over the past week as the general sentiment in the market improves. The second crypto by market capitalization could extend its gains if macroeconomic conditions continue to support the rally. 

Related Reading: Shiba Inu Bullish Signal: Whale Withdraws $34.7M In SHIB From Binance

As of this writing, the Ethereum price trades at $1,333 with sideways movement in the last 24 hours. Over the previous week, the cryptocurrency records a 10% profit and stands as one of the best performers in the top 10 by market cap. 

Ethereum Price ETH ETHUSDT
ETH’s price moving to the upside on the 4-hour chart. Source: ETHUSDT Tradingview

Ethereum Price Follows Market Sentiment

According to a report from analysis firm Blofin, the market sentiment has improved based on widespread reports about an economic recession. These expectations of worse financial data could force the U.S. Federal Reserve (Fed) to loosen its monetary policy. 

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

The financial institution has been hiking interest rates to put a hold on the highest inflation recorded in decades. As a result, the global market is suffering. If conditions decay too much, the market believes the Fed will backtrack, allowing Ethereum and other risk assets to rally. 

Today, the Fed will provide further light on its next steps; if it slows down, the Ethereum price will likely continue on its bullish trajectory. The positive expectations are spilling to other crypto financial sectors. 

According to Blofin, there have been positive developments in the futures and options sectors. The firm noted the shift in sentiment for Q1, 2023, compared to Q4, 2022:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

A rebound of expectation is also underway. In the futures market, the positive basis term structure has been maintained for some time. Although the futures’ basis is still around the parity level, Investors’ implicit expectations are not pessimistic as they were in 2022q4.

Ethereum price ETH ETHUSD Chart 2
Source: Blofin

Crypto Market To See More Volatility

A decline in the U.S. dollar supports the bullish continuation of the Ethereum price. As measured by the DXY Index (DXY), the currency is re-testing critical support allowing ETH and other risk-on assets to appreciate. 

However, the decline in the DXY hints at a spike in the crypto market’s Volatility. According to Blofin:

It is worth noting that the implied Volatility of front-month BTC options has increased somewhat. As the Dec CPI data is about to be released, the game between investors in the spot and derivatives markets may further increase the implied Volatility.

Implied Volatility measures future price movement for an asset. The analytic firm believes that the short-term metrics point to the upside, but the mid to long-term still shows “a relatively bearish attitude.” 

Related Reading: Why The VIX Could Predict A 20% Bitcoin And Crypto Rally

Options traders are accumulating calls (long positions) for BTC with an expiration date set for January 27. The strike price for these contracts stands at $18,000 and $19,000. In other words, crypto traders are betting on BTC (and therefore the Ethereum price) to be much higher than today’s levels by the end of the month. 

Tags: ETHethereumETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Dogecoin DOGE

Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback

2 hours ago
Bitcoin

Bitcoin Soars to $21,500 On “Hated Rally,” Is There Fuel To Keep Rising?

1 week ago
Avalanche

Avalanche Partners With Amazon, What’s Next For The Price?

2 weeks ago
Bitcoin price

Why Bitcoin Will Come Out Ahead In A Recession, Top Analyst Claims

3 weeks ago
Bitcoin

Bitcoin Still Stuck At $16,700, Why This Indicator Points To New Trajectory

3 weeks ago
Ethereum

Breaking: One Of The Largest P2P Crypto Exchanges Removes Ethereum Due To ‘Integrity’

1 month ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Solana (SOL) and LEO Token (LEO) Witness Steep Decline; Flasko (FLSK) Looking To Help Investors Recover Loss

January 26, 2023

BudBlockz (BLUNT) Emerges as a Haven as Bitcoin Cash (BCH) and Stellar (XLM) Struggle to Grow

January 26, 2023

The Top Picks for a Bear Market: Hedera (HBAR), Toncoin (TON), and Orbeon Protocol (ORBN)

January 26, 2023

STEPN (GMT) gains 21% as GameFi, and NFT Industries Suddenly Bounce Back, Decentraland (MANA) named one of the top creditors of bankrupted Genesis Global, Snowfall Protocol (SNW) Seems like the best buy in 2023

January 26, 2023

Polkadot (DOT) On the Rise Following New Releases This Week, Tron (TRX) Down 3% , Snowfall Protocol Is Giving Investors an Edge Over the Bear Market In 2023 With Over 500% Price Gain

January 26, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.