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Price analysis 11/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT

Published 11/21/2022, 02:43 PM
Updated 11/21/2022, 04:20 PM
Price analysis 11/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT

Continued selling in the cryptocurrency markets pulled the total market capitalization below $800 billion on Nov. 21. Traders are increasingly nervous about the extent of damage FTX’s collapse may have on several crypto firms. Until the uncertainty clears, it is futile to expect a sustained recovery in cryptocurrency prices.

The FTX saga has broken the close correlation between the United States equities markets and Bitcoin (BTC). While Bitcoin is trading close to its 52-week low, the S&P 500 (SPX) has recovered sharply from its low made on Oct. 13.

Daily cryptocurrency market performance. Source: Coin360
SPX daily chart. Source: TradingView
DXY daily chart. Source: TradingView
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView

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