Synopsis
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $480.19 billion. Bitcoin’s dominance is currently 43.68%, a decrease of 0.06% over the day, according to CoinMarketCap.
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Explore NowNew Delhi: The cryptocurrency markets were trading higher in Wednesday’s trade amid easing worries over bank industry turmoil and release of largely on-target US inflation data.
Bitcoin (BTC) rose 1.95% to $24,943 whereas Ethereum (ETH) was above the $1,700 level. BTC volume in the last 24 hours stood at approximately $53.82 billion, rising 12.50% in the last 24 hours.
“The UK government bailing out the Silicon Valley Bank has created a positive sentiment within the investment community and which may have increased buying activity. As per the latest data, US consumer inflation has slowed down but it’s still on the higher side which may drive Fed to continue its hawkish stance. If the macroeconomic factors continue to remain favourable then we may see Bitcoin testing $30,000 level very soon,” Shivam Thakral, CEO of BuyUcoin, said.
Other top crypto tokens were also trading higher. Dogecoin, Solana, Polygon and Polkadot were trading over 3% higher. Meanwhile, the global cryptocurrency market cap was trading higher around $1.10 trillion, rising 2.24% in the last 24 hours.
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View Details »The total volume in DeFi is currently 9.46 billion, 9.35% of the total crypto market 24-hour volume. The volume of all stablecoins is now $94.39 billion, which is 93.29% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $480.19 billion. Bitcoin’s dominance is currently 43.68%, a decrease of 0.06% over the day, according to CoinMarketCap.
“Bitcoin’s immediate support level is at $25,125 and a break below this level could open up further selling space up to the $23,750 level,” Sathvik Vishwanath, Co-Founder CEO of Unocoin, said.
Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 64.32, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicates a Neutral outlook at 81.09 and 24.49, respectively.”
“The MACD Level (12, 26), at 133.09, indicates a Buy. The Stochastic RSI Fast (3, 3, 14, 14) and the Williams Percent Range (14) continue to be Neutral at 100.00 and −22.87 respectively,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.10 hours, IST on March 15, 2023)
Bitcoin: $24,943 1.95%
Ethereum: $1,708 1.96%
Tether: $1 0.01%
BNB: $313.11 2.21%
XRP: $0.3762 1.56%
Cardano: $0.3468 0.64%
Polygon: $1.22 3.47%
Dogecoin: $0.07583 4.47%
Solana: $21.41 5.20%
Polkadot: $6.35 3.59%
Tron: $0.06736 0.36%
Shiba Inu: $0.00001135 2.47%
Litecoin: $85.04 4.87%
(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)
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