Synopsis
In the past 24 hours, Bitcoin’s market capitalization, which is the largest cryptocurrency in the world, has risen to $1,381 trillion. According to CoinMarketCap, Bitcoin is the world’s largest cryptocurrency. BTC volumes in the past 24 hours dropped 15%, to $13.8billion.
Cryptocurrency In Wednesday’s trading, markets traded lower, led by Bitcoin, Ethereum Solana and BNB. The global crypto market cap fell 0.6% in the past 24 hours to $2.65 billion.
Bitcoin traded 0.5% lower, at $71,370. Ethereum, however, was 1.4% down at $3,583. Altcoins like Solana BNB XRP Cardano Avalanche and XRP have also fallen 2-4%. The opposite is also true. Dogecoin Shiba Inu (7%) and Internet Computers (2,2%) grew.
Bitcoin saw an influx of both buying and selling, causing price fluctuation before stabilizing around $70,005. Bitcoin’s resistance is likely to be $70,979 and the support at $68,955, according to Edul Patel of Mudrex.
Crypto Tracker
CoinSwitch Markets Desk said that “While BTC Bulls were able to maintain BTC above $70k following a retest at $69k, many analysts predict that there could be a possible short squeeze as well.” Ethereum has also been weaker than BTC. The ETH/BTC graph is unable bounce hard back from the 0.05 level.
DeFi’s total 24-hour volume is $11.73 Billion, which represents 10.97%. According to CoinMarketCap, the volume of stablecoins has reached $93.78 billion. This is equivalent to 87.70% or total 24-hour crypto-market volume.
Bitcoin’s market capitalization, which is the largest cryptocurrency in the world, has risen to $1,381 trillion over the past 24 hours. According to CoinMarketCap, Bitcoin is the world’s largest cryptocurrency. BTC volumes in the past 24 hours dropped 15%, to $13.8billion.
Rajagopal Menon Vice President of WazirX, Rajagopal Menon Tech View
BTC’s exponential moving average for a 10-day EMA shows ‘Buy at’ 67984 and a 2-year EMA at 46121. The 10-day Simple Moving Average (SMA) indicates that a ‘Buy” is at 66829. A 200-day simple moving average indicates “Buy” at 42452.
Ichimoku Base Line at 66554 remains neutral. Hull Moving average indicates “Buy” at 70830. The volume weighted average indicates a ‘Buy at’ 68441.
The Relative Strength Index (14) is at 60 and indicates ‘Neutral. Stochastic %K (14,5,3,3) is 72 and indicates neutrality. The Average Directional Index (14) sits at 31, indicating neutrality.
The MACD level (12, 26) at 2126 indicates “Sell”. Stochastic RSI Fast (3.3, 3.14.14.14) at 43 is a neutral indicator. The Williams Percentage of -25 also indicates neutrality.
These are not the views of The Economic Times. The views expressed here are not those of The Economic Times.
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