Cryptocurrency markets saw an overall increase in trading with Bitcoin and Ethereum rising. Bitcoin’s price remained steady between $31,431 and $29,500, lacking momentum to break the $31,000 level. Other cryptocurrencies also experienced gains, including Polkadot, Polygon, and Avalanche. The global cryptocurrency market cap reached $1.21 trillion, while Bitcoin’s market cap stood at $595 billion. Buyers are advised to keep an eye on the $31,458 resistance level to gauge further upside potential.
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Explore NowThe cryptocurrency markets were majorly trading higher in Monday’s trade. Bitcoin (BTC) rose 0.65% to $30,688, whereas Ethereum (ETH) was above the $1,900 level.
BTC volume stood at approximately $10.92 billion, rising 26.43% in the last 24 hours.
“Bitcoin began the new week trading above the US$30,700 mark but struggled to surpass the US$31,000 level, indicating a lack of urgency among bulls to secure profits at this time,” Edul Patel, Co-founder, and CEO at Mudrex, said.
“The price has remained relatively stagnant between US$31,431 and US$29,500 for a while now. If BTC manages to break through the US$31,000 threshold, there is potential for an upward trend; otherwise, support is currently situated at US$29,500,” Edul added.
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View Details »Other top crypto tokens were also trading higher. Polkadot, Polygon, and Avalanche rose by over 3%. Meanwhile, BNB, Dogecoin, and Litecoin also traded with gains. The global cryptocurrency market cap was trading higher, around $1.21 trillion, rising 1.10% in the last 24 hours.
The total volume in DeFi is currently 2.55 billion, 8.46% of the total crypto market 24-hour volume. The volume of all stablecoins is now $26.98 billion, which is 89.53% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $595 billion. Bitcoin’s dominance is currently 49.36%, a decrease of 0.22% over the day, according to CoinMarketCap.
“Bitcoin is currently at $30,770, showing no clear dominance by bulls or bears in the broader market. To gain control, buyers need to push the price back to the $31,200 level, which could potentially lead to a break above the $31,458 resistance level,” Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.
“Traders should keep a close eye on the recent candle high at $31,458 in the medium term. If the candle closes above this level without a long wick, it could indicate further upside and potentially test the next resistance at $32,376,” Sathvik added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.27 hours, IST on July 03, 2023)
Bitcoin $30,688 0.65%
Ethereum $1,945 1.60%
Tether $0.9999 -0.01%
BNB $247 0.74%
XRP $0.483 -0.24%
Cardano $0.2936 1.29%
Dogecoin $0.06817 1.46%
Polygon $0.6892 2.94%
Solana $19.4 2.55%
Litecoin $112.4 2.1%
Polkadot $5.51 4.32%
Tron $0.07663 1.36%
Shiba Inu $0.000007687 3.25%
(Note: Price chage 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)