BTC volume in the last 24 hours stood at approximately $24.3 billion, rising 11.71% in the last 24 hours.
“The crypto market continues to send strong signals of an early bull run as Bitcoin seems to have received firm support at the $21,000 level and could soon break $23,000 resistance. The second-largest crypto has also rallied over 18% in the past seven days and exchanged hands at $1,560. The markets are confident that Fed will end its hawkish stance and go easy on rate hikes which are creating strong support for digital assets,” Shivam Thakral, CEO of BuyUcoin, said.
Other top tokens were also trading lower on Tuesday. XRP declined by 4%. Binance, Dogecoin, Cardano, and Shiba Inu were also trading with cuts.
“Bitcoin started the year with a significant increase of over 28%, surprising those who expected more challenges for riskier investments after the sharp selloffs in 2022. However, some technical indicators suggest that Bitcoin’s recent jump is becoming overextended,” Edul Patel, CEO and Co-Founder of Mudrex, said.
“The token’s 14-day relative strength index, a measure of momentum, has reached 90, which is well above the “overbought” level of 70 and the highest it has been in about two years. This year’s surge in bitcoin is among the signs that investors continue to act in a much less bearish way than they might have anticipated,” Edul added.
The global cryptocurrency m-cap was trading lower around $989.5 billion, falling 0.78% in the last 24 hours.The total volume in DeFi is currently $4.21 billion, 8.38% of the total crypto market 24-hour volume. The volume of all stablecoins is now $45.07 billion, which is 89.66% of the total crypto market 24-hour volume.
The price of Bitcoin, the world’s largest cryptocurrency, hovered around $407.6 billion, with a dominance of about 41.18%, an increase of 0.23% over the day, according to CoinMarketCap.
Crypto Cart: Quick
(Source: coinmarketcap.com, data as of 11.34 hours, IST on January 17, 2023)
Bitcoin $21,157.30 -0.23%
Ethereum $1,570 -0.45%
Tether $1 -0.03%
USD Coin $1 0.01%
BNB $299.65 -2%
XRP $0.3872 -4%
Dogecoin 0.08399 -3.85%
Cardano $0.3496 -3.45%
Polygon $1.02 -1.52%
Polkadot $5.89 -2.59%
Tron $0.062 -1.81%
Litecoin $85.97 -2.46%
Shiba Inu $0.00001049 -3.36%
Solana $23.53 -0.15%
(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)