bitcoin price today: Crypto Price Today Live: Bitcoin marches towards $24k; Polygon, BNB rise up to 12%

The cryptocurrency market was trading in the green on Thursday after Federal Reserve chair Jerome Powell acknowledged that inflation has started to ease, in remarks he made following a quarter-point rate hike by the US central bank.

Bitcoin (BTC) rose 3.11% to $23,788, while Ethereum (ETH) was above the $1,600 level. BTC volume in the last 24 hours stood at approximately $30.58 billion, rising 37.16% in the last 24 hours.

“Bitcoin traded above $23,900 after reaching a low of $22,874 the previous day. A potential upward trend towards $24,000 and then $25,000 is possible if the market stays favourable. Meanwhile, Ethereum broke above $1,600, with support at that level and resistance at $1,700,” Edul Patel, Co-founder and CEO at Mudrex, said.

Other top crypto tokens were also trading higher. Polygon rose 12.35%. Solana, Avalanche, Cardano and BNB were also trading with gains.

The global cryptocurrency market cap was trading lower around $1.09 trillion, rising 3.86% in the last 24 hours.

The total volume in DeFi is currently $5.67 billion, 8.88% of the total crypto market 24-hour volume. The volume of all stablecoins is now $57.14 billion, which is 89.5% of the total crypto market 24-hour volume.

The market cap of Bitcoin, the world’s largest cryptocurrency, jumped around $458.6 billion, with a dominance of about 42.14%, a decrease of 0.33% over the day, according to CoinMarketCap.”According to the 1-hour time frame analysis, the BTC/USDT spot market appears to be in a bullish state, with a price of $23,900 and support levels at $23,900 and $23,300. The resistance level is at $25,200 and the Relative Strength Index (RSI) is at 70, signaling an overbought market. The moving average is also above the 200-day moving average, further indicating a positive outlook,” Rajagopal Menon, Vice President at WazirX, said.

Crypto Cart: Quick

(Source: coinmarketcap.com, data as of 12.29 hours, IST on February 02, 2023)

Bitcoin $ 23,788 3.11%

Ethereum $1,667 5.79%

Tether $1 0.01%

BNB $329.72 7.21%

XRP $0.4122 2.99%

Dogecoin $0.09326 1.38%

Cardano $0.402 5.21%

Polygon $1.23 12.35%

Polkadot $6.51 5.33%

Tron $0.06341 2.43%

Litecoin $100.45 4.32%

Shiba Inu $0.00001204 3.41%

Solana $24.87 5.70%

(Note: Price change in last 24 hours)

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