Another day in crypto, another mood swing. Helium’s rising, Bitcoin’s back above $19k and Ethereum’s clearly been hitting the gym.

Fear in the market is still, however, at extreme levels, probably due to the macro-related gloom bubbling beneath the surface that might need a team of analysts working round the clock to diagnose.

In fact, crypto investor sentiment has been fearful for pretty much five months solid. Bottoms in the Bitcoin and crypto charts have historically tended to form during extended times when this indicator posts “extreme fear”.

Five months is a fair old whack of terror, gloom-peddling US crypto analyst Justin Bennett thinks we’re not at the bottom just yet…

Bennett did, however, note to his 107k Twitter followers just a few hours ago that the US dollar (which reached another 20-year high yesterday) is breaking down from a rising wedge pattern today. “As long as we have dollar weakness, expect relief for stocks and crypto.” 

Onto some price daily action…

 

Top 10 overview

With the overall crypto market cap at US$1.02 trillion and up about 3% since yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

After a crimson-market day yesterday, the top smart contract platforms have seen some love overnight, with Ethereum, BNB, Cardano, Solana and Polkadot all hitting around or above 5% gainage. XRP, too, and not a dog-meme coin in sight.

Actually, Dogecoin (+4%) and Shiba Inu (+2%) are scratching at the door at numbers 11 and 12 respectively.

Bitcoin’s back above the US$19k support level Bennett mentions further above, but not quite above his $19.7k safety net yet.

Fellow pro chart scrutiniser Michaël van de Poppe meanwhile seems to have swallowed some Dutch courage as he appears to be calling the bottom in this tweet…

Premature? Christ knows, but we do know that Bitcoin’s a hell of a lot closer to its bottom than it is to its Bill and Ted-tastic $69k all-time-high top. You’re welcome – a rudimentary understanding of maths and numbers helped us with that one.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$7.8 billion to about US$405 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

 

DAILY PUMPERS

Helium (HNT), (market cap: US$663 million) +50%

• EOS (EOS), (mc: US$1.66 billion) +18%

• Curve DAO (CRV), (mc: US$453 million) +11%

• Cosmos Hub (ATOM), (mc: US$3.74 billion) +9%

NEAR Protocol (NEAR), (mc: US$3.46 billion) +8%

 

Squeaky-voice time again… Helium… what the? Perhaps the protocol’s proposed move to the super-fast and highly rated (although also sometimes doubted due to the odd network outage) Solana has had some time to sink in with investors?

Or, is it just some smoke-and-mirror whale manipulation going on behind the scenes? It’s a pretty big spike, and, although last week’s Solana news was significant, we’re not seeing a lot of fresh news overnight to support this. Buyer beware, I guess.

 

DAILY SLUMPERS

• Chain (XCN), (market cap: US$1.51 billion) -4%

DeFiChain (DFI), (mc: US$585 million) -3%

Celsius (CEL), (mc: US$558 million) -1%

• OKB (OKB), (mc: US$3.6 billion) -1%

• Tokenize Xchange (TKX), (mc: US$426 million) -1%

 

Around the blocks

A selection of randomness and pertinence that stuck with us on our morning moves through the Crypto Twitterverse…

https://twitter.com/alancarroII/status/1567590231003566081