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)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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