Bitcoin price today remained above the $19,000 mark even as the world’s largest and most popular cryptocurrency was trading more than 2% lower at $19,042. The global crypto market cap today remained below the $1 trillion mark, as it was down over a per cent in the last 24 hours at $968 billion, as per CoinGecko.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, fell more than a per cent at $1,344. An Ether jump since mid-June that was spurred by hype around an upgrade of the Ethereum blockchain is rapidly unwinding now the revamp is done. Meanwhile, investors are bracing for volatility from the jumbo interest-rate hike expected this week from the Federal Reserve to fight price pressures.
“Bitcoin traded sideways between its support at $18,540 and the resistance at $20,415 on Tuesday. Since the current price is closer to the support price, sellers are more active in the market. If bulls can get back to the market by making a move to $20,000, we might see an upward trend. On the other hand, Ethereum trades in a similar zone to BTC. It has not still accumulated the power to make a sharp move as sellers are more powerful than buyers. ETH may likely trade sideways for a few more days,” said Edul Patel, CEO and Co-founder, Mudrex.
Meanwhile, dogecoin price today was also trading about 2% higher at $0.05 whereas Shiba Inu slipped more than 2% to $0.000011. Other crypto prices’ today performance were mixed as Uniswap, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Chainlink, Tron, Tether prices were trading with gains over the last 24 hours, whereas XRP, Stellar gained.
Nasdaq Inc. is making its first major push into crypto, as the second-largest stock exchange prepares to capitalize on increasing appetite for digital currencies among big-money investors. A new group dedicated to digital assets will initially offer custody services for Bitcoin and Ether to institutional investors, as reported by Bloomberg.
(With inputs from agencies)
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