The global cryptocurrency market cap was trading lower, around $1.21 trillion, falling 0.67% in the last 24 hours.
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Explore NowThe cryptocurrency markets were majorly trading in the red on Wednesday ahead of the FOMC meeting minutes.
Bitcoin (BTC) fell 0.61% to $30,800, whereas Ethereum (ETH) was below the $1,950 level. BTC volume stood at approximately $10.9 billion, falling 32% in the last 24 hours.
“Bitcoin, after surpassing the US$31,000 mark yesterday, is currently consolidating around the US$30,800 level as investors eagerly anticipate the release of the FOMC minutes today,” Edul Patel, Co-founder, and CEO at Mudrex, said.
“Presently, neither the bulls nor the bears have a clear upper hand as Bitcoin trades within the middle range between the support and resistance levels. If the price closes above the US$31,000 zone in the coming days, there is a possibility of Bitcoin climbing above the US$32,000 mark in the near future,” Edul added.
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View Details »The global cryptocurrency market cap was trading lower, around $1.21 trillion, falling 0.67% in the last 24 hours.
The total volume in DeFi is currently $2.31 billion, 8% of the total crypto market 24-hour volume. The volume of all stablecoins is now $24.64 billion, which is 90% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $598 billion. Bitcoin’s dominance is currently 49.60%, an increase of 0.04% over the day, according to CoinMarketCap.
“The presence of a bullish engulfing candle on the daily time frame indicates a strong possibility of a bullish trend. Resistance at $31,350 could lead to a target of $32,500 or even $34,150,” Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.
“Positive sentiment is indicated by technical indicators such as RSI and MACD, with the 50-day exponential moving average supporting an uptrend. Support levels are at $30,500 and $29,650, with a potential decline to $28,650 or $27,900 if $29,650 is breached,” Sathvik said.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.43 hours, IST on July 07, 2023)
Bitcoin $30,808 -0.66%
Ethereum $1,937 -0.92%
Tether $0.9999 0.04%
BNB $243.6 -0.79%
XRP $0.4877 -0.13%
Cardano $0.2945 -0.58%
Dogecoin $0.0689 0.67%
Solana $19.32 0.58%
Polygon $0.7019 -0.83%
Litecoin $104.95 -2.31%
Polkadot $5.36 -2.25%
Tron $0.07784 0.49%
Shiba Inu $0.00000773 -0.23%
(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)