Bitcoin News

Price analysis 9/22: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, AVAX, UNI

0

The crypto markets and U.S. equity markets are attempting a recovery today as fears of a widespread contagion due to Chinese developer Evergrande defaulting on its debt recede. Bridgewater Associates co-chairman and co-chief investment office Ray Dalio said on Wednesday that Evergrande’s debt was “manageable.”

Ming Tan, a director at the credit rating agency Standard & Poor’s, said that the Chinese government may step in and restructure Evergrande.

The Crypto Fear & Greed Index had plunged to 21 levels, indicating extreme fear among investors. However, while speaking on CNBC, Galaxy Digital CEO Mike Novogratz said that the crypto markets remain in good shape as long as Bitcoin (BTC) sustains above $40,000 and Ether (ETH) stays above $2,800.

Daily cryptocurrency market performance. Source: Coin360

Traders may now shift their focus to the Federal Reserve’s policy statement with economic and interest rate forecasts on Wednesday, which will be followed by a press conference by Fed Chair Jerome Powell.

Could Bitcoin and altcoins sustain the rebound or will higher levels attract selling by the bears? Let’s study the charts of the top-10 cryptocurrencies to find out.