The cryptocurrency market experienced a slight dip with Bitcoin declining by 0.65% to trade at $30,069. Ethereum was also slightly affected, with it trading above the $1,850 range. Despite this, the total volumes of BTC rose by 17.78% in the last 24 hours to $8.8 billion. The crypto market cap traded lower at $1.17 trillion, down by 0.74% in the last 24 hours. The price of BTC has continued to range-trade above $30,000 as the market absorbs the nonfarm payroll report.
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Explore NowThe cryptocurrency market was trading in the red on Monday. Bitcoin (BTC) fell 0.65% to $30,069, while Ethereum was just above the $1850 level.
Meanwhile, BTC volumes in the last 24 hours stood at approximately $8.8 billion, rising 17.78% in the last 24 hours.
Bitcoin started the new week trading sideways above the US$30,000 level as the market continued to digest the latest nonfarm payroll report, Edul Patel, Co-founder and CEO at Mudrex, said.
“BTC has been trading between the levels of US$30,000 and US$31,400 since the past few days. This suggests both bulls and bears are active in the market and that bulls are continuing to defend the level aggressively,” Edul added.
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View Details »The global cryptocurrency market cap was trading lower, around $1.17 trillion, falling 0.74% in the last 24 hours.
The total volume in DeFi is currently 1.79 billion, 7.94% of the total crypto market 24-hour volume. The volume of all stablecoins is now $20.53 billion, which is 90.86% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $584 billion. Bitcoin’s dominance is currently 49.98%, an increase of 0.11% over the day, according to CoinMarketCap.
“Bitcoin has been trading within a range defined by the 20-day exponential moving average ($29,854) and the resistance level at $31,000. This consolidation indicates a sense of uncertainty among both bullish and bearish market participants regarding the next significant move. Buyers are likely to make another attempt to break above the resistance at $31,500,” said ZebPay Trade desk.
Rajagopal Menon, Vice President at WazirX, said, “Major market oscillators point toward a Neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 56, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 33 and 31, respectively, further indicating a Neutral market.
“The MACD Level (12, 26) at 619 indicates a Sell. The Stochastic RSI Fast (3, 3, 14, 14) is at 10 with a Neutral indicator, while the Williams Percent Range (14) at -72 signals Neutral,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.34 hours, IST on July 10, 2023)
Bitcoin $30,069 -0.65%
Ethereum $1,856 -0.55%
Tether $0.999 0.07%
BNB $233.2 -0.83%
XRP $0.4688 -0.14%
Cardano $0.2823 -1.51%
Dogecoin $0.06452 -1.87%
Solana $20.9 -3.69%
Polygon $0.6778 -0.80%
Litecoin $93.39 -3.80%
Polkadot $5.04 -1.60%
Tron $0.07725 -3.52%
Shiba Inu $0.000007565 -1.21%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)