AgenciesNew Delhi: The cryptocurrency market was trading in the red on Friday. Bitcoin (BTC) fell 0.86% to $22,995, whereas Ethereum (ETH) was below the $1,600 level. BTC volume in the last 24 hours stood at approximately $26.25 billion, falling 13.77% in the last 24 hours.
"Bitcoin was recently trading just below its most recent $23,000 support level. Bitcoin's more than 35% rise this year has re-ignighted interest in crypto markets, even if analysts remain sceptical of its short-term prospects," Rajagopal Menon, Vice President at WazirX said.
Other top crypto tokens were also trading lower on Friday. Solana fell 3.8%. Litecoin, Shiba Inu, Dogecoin and BNB were also trading with cuts.
The global cryptocurrency market cap was trading around $1.04 trillion, down 1.15% in the last 24 hours.
The total volume in DeFi is currently $5.57 billion, 10.2% of the total crypto market 24-hour volume. The volume of all stablecoins is now $48.86 billion, which is 89.40% of the total crypto market 24-hour volume.
The price of Bitcoin, the world's largest cryptocurrency, hovered around $443.59 billion, with a dominance of about 42.41%, an increase of 0.06% over the day, according to CoinMarketCap.
"Most cryptocurrencies underwent a correction in the past 24 hours following US economic data's release. Bitcoin traded at the $22,800 after rising above $23,000 following Tesla's earnings report. Similarly, Ethereum reached above $1,600 in the early hours of Thursday but has since dropped to around $1,500. The support for ETH now lies at US$1,450 and resistance at US$1,667 and US$1,775," Edul Patel, CEO & CO-Founder, Mudrex said.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.41 hours, IST on January 27, 2023)
Bitcoin $ 22,995 -0. 86%
Ethereum $1,580 -2.52%
Tether $1 0.01%
USD Coin $0.999 -0.01%
BNB $301.74 -1.57%
XRP $0.4053 -2.35%
Dogecoin $0.08549 -2.14%
Cardano $0.3749 -1.88%
Polygon $1.1 9.37%
Polkadot $6.41 -1.28%
Tron $0.0619 -0.32%
Litecoin $87.39 -2.66%
Shiba Inu $0.00001153 -2.64%
Solana $23.93 -3.74%
(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)
"Bitcoin was recently trading just below its most recent $23,000 support level. Bitcoin's more than 35% rise this year has re-ignighted interest in crypto markets, even if analysts remain sceptical of its short-term prospects," Rajagopal Menon, Vice President at WazirX said.
Other top crypto tokens were also trading lower on Friday. Solana fell 3.8%. Litecoin, Shiba Inu, Dogecoin and BNB were also trading with cuts.
Crypto Tracker
The total volume in DeFi is currently $5.57 billion, 10.2% of the total crypto market 24-hour volume. The volume of all stablecoins is now $48.86 billion, which is 89.40% of the total crypto market 24-hour volume.
The price of Bitcoin, the world's largest cryptocurrency, hovered around $443.59 billion, with a dominance of about 42.41%, an increase of 0.06% over the day, according to CoinMarketCap.
"Most cryptocurrencies underwent a correction in the past 24 hours following US economic data's release. Bitcoin traded at the $22,800 after rising above $23,000 following Tesla's earnings report. Similarly, Ethereum reached above $1,600 in the early hours of Thursday but has since dropped to around $1,500. The support for ETH now lies at US$1,450 and resistance at US$1,667 and US$1,775," Edul Patel, CEO & CO-Founder, Mudrex said.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.41 hours, IST on January 27, 2023)
Bitcoin $ 22,995 -0. 86%
Ethereum $1,580 -2.52%
Tether $1 0.01%
USD Coin $0.999 -0.01%
BNB $301.74 -1.57%
XRP $0.4053 -2.35%
Dogecoin $0.08549 -2.14%
Cardano $0.3749 -1.88%
Polygon $1.1 9.37%
Polkadot $6.41 -1.28%
Tron $0.0619 -0.32%
Litecoin $87.39 -2.66%
Shiba Inu $0.00001153 -2.64%
Solana $23.93 -3.74%
(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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