Cryptocurrency markets traded mixed at press time, with the total market capitalization of major coins rising marginally by 0.06% to $1.2 trillion.
| Coin | 24-hour | 7-day | Price |
|---|---|---|---|
| Bitcoin BTC/USD | 0.2% | -0.9% | $28,088.43 |
| Ethereum ETH/USD | -0.9% | 3.7% | $1,882.56 |
| Dogecoin DOGE/USD | -6.3% | 14.6% | $0.086 |
| Cryptocurrency | 24-Hour % Change (+/-) | Price |
|---|---|---|
| Terra Classic (LUNC) | +6.4% | $0.00013 |
| Maker (MKR) | +4.4% | $718.70 |
| Casper (CSPR) | +4.2% | $0.043 |
See Also: How To Buy Bitcoin With eToro
Why It Matters: Bitcoin traded positively, while Ethereum was in the negative at 9:16 p.m. EDT on Thursday.
“Bitcoin appears to be waiting for the correct moment to shine. When a lot of markets will be closed, we will observe if traders take advantage of the one market that operates 365 days a year,” said Edward Moya, a senior market analyst at OANDA.
Moya noted that the apex coin was near the “upper boundaries of its trading range and could witness a good opportunity to jump the $30,000 level over the weekend when some of its derivatives are not actively trading.”
“If the [Non-Farm Payroll] report misses significantly and suggests the economy is in poorer condition, we could see that provide a major boost for crypto,” said Moya.
The NFP report is due for release at 8:30 a.m. EDT on Friday but the U.S. equities markets are closed on account of the Good Friday holiday.
Economists are expecting that 239,000 payrolls will be added. The number will follow a higher-than-predicted print in February when the U.S. added 311,000 jobs, which was above economist estimates of 200,000.
Michaël van de Poppe said Thursday that jobless claims could come in above expectations. The cryptocurrency trader said unemployment was likely coming in at 3.7%-3.8% as the effects of monetary tightening start to show up in the United States.
On-chain analytics data provider CryptoQuant said that Ethereum open interest has hit a 6-month high as the Shanghai Upgrade draws nearer.
Sentiment tweeted that Bitcoin is “ranging after topping” at $28,700 and traders are “transacting at a loss at twice the rate of profit.” The market intelligence platform said that this is the “first time this ratio has been negative in 5 weeks, and is actually a good indication that the [FOMO’ers] are giving up on the rally.
Meanwhile, on-chain data provider Glassnode said a way to measure demand in the market was the value of fees investors are
