FXStreet Team
FXStreet
Cardano price rallied by a little more than 3% to trade at $0.386. Cardano price has maintained a rather low profile throughout the month of January as the third-generation cryptocurrency only registered a 57% rise over the last four weeks. 
ApeCoin Price is in question as the uptrend move is not delivering the same amount of strength witnessed in the trend prior. Traders should be on the lookout as a sudden dip could be the start of a much larger decline.
Dogecoin price is showing substantial evidence to suggest a market decline is on the way. Investors should be aware DOGE’s downside potential going into the final days of the month. A breach above $0.095 would invalidate the bearish thesis.
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Shiba Inu (SHIB) price is gearing up for the first real test of the year as US GDP numbers are coming out later this Thursday. From a technical point of view, the price action on the screen is not really painting a rosy picture.
The recent rally in Bitcoin has caused the total crypto market cap to go from $800 billion to $1 trillion. Low market capitalization altcoins like Coti, Injective and Dusk Network have seen explosive rallies in the last 24 hours.
The total volume of Bitcoin options on Deribit hit its highest level since the FTX exchange collapse. Deribit is one of the world’s largest cryptocurrency options exchanges, therefore the spike in options volume signals a bullish shift.
Elon Musk’s Tesla released its Q4 2022 financial report and revealed that the electric car company did not conduct any Bitcoin transactions. Tesla took an impairment of $34 million and currently holds about 9,720 BTC.
US Dollar Index (DXY) seesaws near 102.00 as the bulls struggle to defend the first daily gains in three, marked the previous day, during early Tuesday’s inactive trading.
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