Cryptocurrencies Gain As Global Markets Rise; Bitcoin Climbs 7.7%, Ethereum Up By 7.1%

Major cryptocurrencies extended gains on Friday tracking positive cues across global markets.

World’s most popular and largest cryptocurrency Bitcoin was trading 7.7 percent up at $21,978.2 at 8:46 am. Bitcoin’s market capitalisation was at $423.7 billion, while the trade volume was at $27.7 billion in the past 24 hours. Bitcoin has seen a positive change of 9.3 percent in the past seven days.

A WazirX analyst said, “On the 4-hourly time-frame, the BTC chart has broken out of the triangle pattern, moving in an uptrend. The immediate resistance is expected at $32,300 level. The last week’s trading volumes indicate that the market is dominated by buyers and we could expect the upsurge to continue in the coming days.”

Source: WazirX

Second-largest virtual currency Ether was 7.1 percent up at $1,253.7 with market capitalisation of $153.2 billion. Trade volume of Ethereum was $14.9 billion in the last 24 hours.

Edul Patel, Co-Founder CEO of Mudrex, said that the crypto market seems to be on bullish sentiment, with the global crypto market cap rising by 5 percent over the previous day.

Meme crypto Dogecoin was 4.7 percent up with a trade volume of $421.8 million in 24 hours. Shiba Inu was trading 7.9 percent lower at $0.000011 while Solana was 4.2 percent up at $38.5 billion.

Indian headline indices made a gap up start on Friday tracing gains across global markets.