Synopsis
BTC volume in the last 24 hours stood at approximately $41.40 billion, falling 1.70%. The market cap of Bitcoin was around $536.84 billion. Bitcoin’s dominance is currently 46.48%, an increase of 0.53% over the day, according to CoinMarketCap.
New Delhi: Ahead of the Federal Reserve’s policy decision on Wednesday, the cryptocurrency markets were trading marginally lower today. Bitcoin (BTC) was below the $27,800 level, whereas Ethereum (ETH) was below the $1,750 level.
Meanwhile, the global cryptocurrency market cap was trading lower around $1.15 trillion, falling 0.64% in the last 24 hours.
“Most cryptocurrencies slipped late Monday as investors await Wednesday’s US central bank’s next interest rate decision. Bitcoin traded above the $28,000 level on Monday after the US Federal Reserve announced it had teamed up with five other major central banks to ensure the flow of the US dollar. However, it has since decreased slightly and is trading at the US$27,800 level,” Edul Patel, Co-founder and CEO at Mudrex, said.
Other top crypto tokens were also trading lower on Tuesday. As of 11.40 am, Litecoin was trading over 4% down, while Polkadot, Shiba Inu and Dogecoin slipped over 2%.
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View Details »The total volume in DeFi is currently at $6.11 billion, 8.51% of the total crypto market 24-hour volume. The volume of all stablecoins is now $65.27 billion, which is 90.98% of the total crypto market 24-hour volume.
BTC volume in the last 24 hours stood at approximately $41.40 billion, falling 1.70%. The market cap of Bitcoin was around $536.84 billion. Bitcoin’s dominance is currently 46.48%, an increase of 0.53% over the day, according to CoinMarketCap.
“Bitcoin (BTC) has encountered key resistance at the $28,000-$30,000 levels which might indicate overbought conditions. We, therefore, anticipate a small pullback before it can rise higher. Market is now looking at the US Fed decision on interest rate hike before taking a definitive turn,” Vikram Subburaj, CEO of Giottus Crypto Platform said.
Rajagopal Menon, Vice President at WazirX said, “Major market indicators point towards a neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 70.55, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 93.08 and 34.30, respectively, further indicating a neutral market.”
“The MACD Level (12, 26), at 1288.91, indicates a Buy. The Stochastic RSI Fast (3, 3, 14, 14) is at 96.73 with a Neutral indicator, while the Williams Percent Range (14) at -7.61 signals Neutral,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.50 hours, IST on March 21, 2023)
Bitcoin $27,831 1.21%
Ethereum $1,743 -1.39%
Tether $1 -0.12%
BNB $331.89 -1.25%
XRP $0.3852 0.19%
Cardano $0.3368 -1.61%
Polygon $1.11 -2.35%
Dogecoin $0.07172 -3.25%
Solana $22.41 0.49%
Polkadot $6.16 -3.09%
Tron $0.06581 1.13%
Shiba Inu $0.00001055 -1.63%
Litecoin $78.99 -3.93%
(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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