The price of bitcoin, ethereum, and other major cryptocurrencies was observed to correct in trading Wednesday (10/11/2021) morning, where bitcoin and ethereum corrected after touching new record highs yesterday. Launching data from CoinMarketCap, at 09:01 WIB, bitcoin weakened 0.81% to a price level of US$ 67,028.26/coin or equivalent to Rp. 955,152,705/koin (assuming today's exchange rate is Rp. 14,250/US$), ethereum slumped 1.51% to US$ 4,728.93/coin or Rp 67,387,253/coin. In addition to bitcoin and ethereum which tended to be slightly corrected, other major cryptocurrencies were also observed to weaken this morning. Only crypto cardano still strengthened, which shot up 6.04% to the level of US$ 2.24/coin (Rp 31,920/koin). Here are the movements of 10 cryptocurrencies with a market capitalization of over US$ 30 billion. Bitcoin and ethereum briefly touched new all-time high (ATH) levels in yesterday's trade. Based on data from CoinMarketCap, the new highest level for bitcoin is at US$ 68,530.34/coin or Rp, which was formed on Tuesday at 10:59 WIB. While on ethereum, the new highest level was at US$ 4,824.41/coin or Rp which was created in yesterday's trading at 12:00 WIB. Investors this morning tend to realize their profits (profit taking) after bitcoin and ethereum touched their new highs yesterday. The price of bitcoin, ethereum, and other major cryptocurrencies was observed to correct in trading Wednesday (10/11/2021) morning, where bitcoin and ethereum corrected after touching new record highs yesterday. Launching data from CoinMarketCap, at 09:01 WIB, bitcoin weakened 0.81% to a price level of US$ 67,028.26/coin or equivalent to Rp. 955,152,705/koin (assuming today's exchange rate is Rp. 14,250/US$), ethereum slumped 1.51% to US$ 4,728.93/coin or Rp 67,387,253/coin. In addition to bitcoin and ethereum which tended to be slightly corrected, other major cryptocurrencies were also observed to weaken this morning. Only crypto cardano still strengthened, which shot up 6.04% to the level of US$ 2.24/coin (Rp 31,920/koin). Here are the movements of 10 cryptocurrencies with a market capitalization of over US$ 30 billion. Crypto Bitcoin and ethereum briefly touched new all-time high (ATH) levels in yesterday's trade. Based on data from CoinMarketCap, the new highest level for bitcoin is at US$ 68,530.34/coin or Rp, which was formed on Tuesday at 10:59 WIB. While on ethereum, the new highest level was at US$ 4,824.41/coin or Rp which was created in yesterday's trading at 12:00 WIB. Investors this morning tend to realize their profits (profit taking) after bitcoin and ethereum touched their new highs yesterday.
Meanwhile, the Bitcoin Fear & Greed Index, an index that measures the emotions of investors in bitcoin, entered the extreme greed area on Tuesday. The index showed it was at its highest level since October 21, which preceded a sharp sell-off in bitcoin. The type of FOMO (fear of missing out) in the market today is also reflected in the rally of several alternative cryptocurrencies (altcoins), such as loopring (LRC), livepeer (LPT) and litecoin (LTC). According to analysts, the reason behind this FOMO action is more speculative than concerned with market fundamentals. "I don't know if there is a specific catalyst for the recent livepeer price performance," said Mason Nystrom, research analyst at Messari. He pointed out that the latest development on Livepeer, an Ethereum-based open-source video platform is the acquisition of MistServer, a streaming media server on October 19. On the other hand, digital asset companies recorded investor inflows in the crypto market reached US$ 174 million last week, bringing the year-to-date (YTD) investor inflow to US$ 8.9 billion, increased significantly from last year's US$ 6.7 billion. Total assets under management (AUM) has also hit an all-time high of $80 billion, with bitcoin and ethereum leading the way at $53 billion and $20 billion, respectively.
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