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#ContentStar# Bitcoin punches above $27k, but analysts have bearish price predictions Bitcoin (BTC) zoomed above the $27,000 price level in European afternoon hours on Monday, with ether (ETH) holding above support levels, though interest-rate decisions due later this week may introduce downward pressure.
Markets remained generally tepid over the weekend, with overall capitalization growing just 0.4% in the past 24 hours, according to CoinGecko data. Crypto futures liquidations clocked in at just $48 million – their lowest level since mid-August – while open interest, or the amount of futures contracts, grew 4%, suggesting a low sentiment.
As of Asian afternoon hours, the CoinDesk Market Index (CMI) rose 0.3%, mirroring low gains among alternative currencies.
Toncoin (TON) led losses among major tokens, dropping 1% in the past 24 hours, most likely as traders took profits on a 40% increase last week after messaging giant Telegram said it would integrate a TON-based app on its platform.
Meanwhile, some traders are awaiting key decisions in traditional markets they say could be bearish for the crypto environment.
“Markets could move nervously in the next few days as we await major data prints from the U.K. and U.S., with both countries’ central banks due to announce new rate decisions later this week,” said Simon Peters, a market analyst at investing platform eToro, in a note to CoinDesk.
“Despite inflation falling in both economies, signs are there that this retreat might not be fully felt yet. Like other risk assets, crypto assets are sensitive to rate expectations so any hardening in tone could leave investor sentiment bearish,” he wrote.
Elsewhere, analysts at the on-chain analytics platform CryptoQuant pointed out recent price moves have not impacted the estimated leverage ratio on bitcoin and ether.
The ratio is a measure of an exchange's open interest divided by their coins reserve which shows how much leverage is used by users on average. An increase in values indicates more, while a flat value shows low trading interest from futures traders. HOW TO MAKE MONEY WITHOUT TRADING
Whether you’re a beginner, advanced trader or simply a HODLer that wants to earn some extra rewards, there are many different reasons why you may decide to use Dual Investment
When should I use Dual Investment?
Common scenarios include:
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Take profit: Sell your crypto holding at a Target Price to realize some of your gains while benefiting from additional rewards;
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Buy the dips: Buy crypto at a Target Price when the market is down, and enjoy additional rewards
•
Grow more crypto: You have crypto and want to earn additional returns while holding onto them
•
Grow more stablecoin: You have stablecoins and want to earn additional returns while holding onto them
How do “Buy Low” and “Sell High” products work?
There are two types of Dual Investment products: “Buy Low” and “Sell High”.
Buy Low products give you a chance to buy your desired crypto at a lower price in the future with digital assets.
Example: Buy Low BTC with USDT, Deposit USDT
- Target Reached: On the Settlement Date, if the Market Price is at or below the Target Price, the target currency (BTC) will be bought
- Target Not Reached: On the Settlement Date, if the Market Price is above the Target Price, then you will keep your deposited digital asset (USDT)
Example: Buy Low BTC with ETH, Deposit ETH
In both examples, you will first earn rewards in your deposited digital asset
Sell High products give you a chance to sell your existing crypto at a higher price in the future for digital assets
Example: Sell High BNB for USDT, Deposit BNB
- Target Reached: On the Settlement Date, if the Market Price is at or above the Target Price, your BNB will be sold for your target currency (USDT)
- Target Not Reached: On the Settlement Date, if the Market Price is below the Target Price, then you will keep your BNB
- Target Reached: On the Settlement Date, if the Market Price is at or above the Target Price, your BNB will be sold for your target currency (ETH)
In both scenarios, you will first earn rewards in your deposited digital asset.
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