Synopsis
“Bitcoin (BTC) has dropped below $30,000 as a reaction to a new stablecoin bill being flouted in the US. It enjoys strong support at $28,600 which is likely to hold and give strength to refuel its current rally,” Vikram Subburaj, CEO of Giottus Crypto Platform, said.
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Explore NowThe cryptocurrency markets were trading mixed on Tuesday. Bitcoin, Ethereum, and BNB were trading with cuts, while Dogecoin, Shiba Inu and Litecoin were trading with gains.
Bitcoin (BTC) fell 1.39% to $29,587, while Ethereum (ETH) was below the $2,100 level. BTC volume stood at approximately $16.81 billion, rising 14.1% in the last 24 hours.
“After a week of crossing the $30k mark, Bitcoin has dipped below the threshold amidst the abating banking crisis, rising treasury yields, and the shift of investors’ sentiment towards ‘risk-off’ assets. Dipping ~2% in the last 24 hours, BTC is trading in the $29.5k zone. Post the Shapella upgrade, ETH continues to trade above the $2k mark,” Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, said.
The total volume in DeFi stood at 4.32 billion, 9.83% of the total crypto market 24-hour volume. The volume of all stablecoins was at $39.45 billion, 89.67% of the total crypto market 24-hour volume.
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View Details »The global cryptocurrency market cap was trading lower around $1.26 trillion, falling 0.71% in the last 24 hours.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $575 billion. Bitcoin’s dominance is currently 45.40%, a decline of 0.32% over the day, according to CoinMarketCap.
“Bitcoin (BTC) has dropped below $30,000 as a reaction to a new stablecoin bill being flouted in the US. It enjoys strong support at $28,600 which is likely to hold and give strength to refuel its current rally,” Vikram Subburaj, CEO of Giottus Crypto Platform, said.
Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 59, with a neutral outlook. The Stochastic %K (14, 3, 3) indicates ‘sell’ at 62 and the Average Directional Index (14) indicates a Neutral outlook at 40.
“The MACD Level (12, 26), at 919, indicates Sell. The Stochastic RSI Fast (3, 3, 14, 14) is Neutral at 29 and William’s Percentage is Neutral at −48 as well,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.56 hours, IST on April 18, 2023)
Bitcoin $29,587 -1.39%
Ethereum $2,076 -0.32%
Tether $1.00 -0.02%
BNB $345 -0.64%
XRP $0.5156 0.22%
Cardano $0.4436 0.15%
Dogecoin $0.09297 3.91%
Polygon $1.18 0.61%
Solana $25.12 -1.50%
Polkadot $6.80 1.22%
Shiba Inu $0.00001155 1.06%
Litecoin $102.1 3.32%
Tron $0.06617 -0.47%
(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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