Crypto Price Today: Bitcoin holds $26,000, Ethereum tops $1,650, Altcoins trade mostly higher
Bitcoin and other crypto tokens recovered from the previous day’s cuts and inches slightly higher. However, the gains were capped as the market sentiments turned further bearish. Bitcoin rebounded from under-$26,000 levels but the lack of new catalysts put a brake on the rally in the markets.
Bitcoin remained range-bound alike the previous day as the largest crypto token inched up slightly to firm at $26,000-levels. Its largest peer, Ethereum, moved on the similar line and paved its position above $1,650-mark. Price action in the altcoins was on the higher side during the early trade.
The crypto market has traded sideways with minor gains in the past 24 hours. The crypto fear and greed index has shown no change since yesterday and continues to be in the fear zone with a score of 39/100. The market has been witnessing one of its lowest trading volumes in a very long time, said Shubham Hudda, Senior Manager, CoinSwitch Markets Desk
“This bear cycle of Bitcoin has already crossed more than 500 days, making it the longest bear market in the entire crypto lifecycle,” he added. “In a big announcement yesterday, Mukesh Ambani announced that Jio’s financial services division may start offering blockchain-related products like the recently launched e-Ruppee.”
Barring a few exceptions, all top crypto tokens were trading slightly higher on Tuesday. Polkadot gained more than 3 per cent, while Shiba Inu posted similar gains. Toncoin, Cardano and Polygon advanced about 2 per cent each. Among the losers, Tron shed more than a per cent, while Solana was slightly down.
The global cryptocurrency market cap was trading marginally higher, rising to $1.05 trillion-mark, as inched up slightly in the last 24 hours. However, the total trading volumes surged more than 38 a per cent to $24.26 billion.
Tech View by WazirX Trade Desk
Galxe (GAL) is one of the foremost Web3 credential data networks globally, built upon an inclusive and cooperative framework. This framework empowers Web3 developers and projects to derive benefits from credential data, facilitating the creation of enhanced products and communities.
Image: Chart-GAL
The GAL/USDT price gained over 8% yesterday with the RSI almost touching the 60 level after nearly four and half months. The daily trend has been traversing within a descending channel pattern but has recently bounced back and is approaching the upper trendline with a surge in trading volume. The next resistance is expected at 1.375 USDT and an immediate support is expected at 1.15 USDT.
(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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