Categories: Business

BTC, DOT, XMR, APE, CAKE By Cointelegraph

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Top 5 cryptocurrencies to watch this week: BTC, DOT, XMR, APE, CAKE

(BTC) and several altcoins are trading in a tight range during the weekend, suggesting that investors are undecided about the next directional move. Traders may be waiting for Wall Street to open before placing large directional bets because Bitcoin has been tightly correlated with the S&P 500 in the past few days.

The sharp fall in the U.S. equity markets on April 22 suggests that investors are increasingly nervous about the hawkish stance of central banks. The market expects a 250 basis points rate hike by the U.S. Federal Reserve in 2022. In addition, the European Central Bank is expected to raise rates for the first time since 2011, according to a Reuters source.

Crypto market data daily view. Source: Coin360

BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
DOT/USDT 4-hour chart. Source: TradingView
XMR/USDT daily chart. Source: TradingView
XMR/USDT 4-hour chart. Source: TradingView
APE/USDT daily chart. Source: TradingView
APE/USDT 4-hour chart. Source: TradingView
CAKE/USDT daily chart. Source: TradingView
CAKE/USDT 4-hour chart. Source: TradingView

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