Cryptocurrency prices today steady as Bitcoin trades above $16,000. Check latest rates

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Cryp­to mar­kets stead­ied as Bit­coin’s price trad­ed above the $16,000 mark. The world’s largest cryp­tocur­ren­cy by mar­ket val­ue is down about 70% since the same time last year, when the dig­i­tal token was trad­ing just below the almost $69,000, its all-time high lev­el in Novem­ber 2021.

The world’s largest and most pop­u­lar dig­i­tal token Bit­coin’s price today was trad­ing over a per cent high­er at $16,682. On the oth­er hand, Ether, the coin linked to the ethereum blockchain and the sec­ond largest cryp­tocur­ren­cy, also rose by more than 3% to $1,200. The glob­al cryp­to mar­ket cap today remained below the $1 tril­lion mark, even as it over 4% high­er in the last 24 hours to $873 bil­lion, as per the data by CoinGecko.

“Most cryp­tocur­ren­cies rebound­ed from their recent declines. Bit­coin has surged by 3% in the past 24 hours, react­ing to the news of Coin­base hav­ing 2 mil­lion BTC reserves as of the end of the Quar­ter 3. BTC is cur­rent­ly trad­ing above the $16,700 lev­el and is try­ing to retest the breached resis­tance as poten­tial sup­port. If BTC can hold the gained ini­tia­tive, it might trade above $18,000 by the end of this week. On the oth­er hand, Ethereum has also gained by 5%, trad­ing above the $1,200 lev­el. A poten­tial upward move could soon take the coin’s price to the $1,300 zone,” said Edul Patel, CEO and Co-founder, Mudrex.

Mean­while, doge­coin price today was trad­ing over 4% high­er at $0.08 where­as Shi­ba Inu was up near­ly 2% at $0.000009. Oth­er cryp­to prices’ today per­for­mance also improved as Binance USD, Avalanche, Teth­er, Ter­ra, Stel­lar, Polka­dot, Solana, Uniswap, ApeCoin, Tron, Poly­gon, XRP, Car­dano, Chain­link, Lite­coin prices were trad­ing with mar­gin­al gains over the last 24 hours.

Cryp­to prices plunged this month after the col­lapse of Sam Bankman-Fried’s FTX empire. Now, investors are watch­ing oth­er cryp­to com­pa­nies to see how far the con­ta­gion might spread. Gen­e­sis, a dig­i­tal-asset bro­ker­age, warned of pos­si­ble bank­rupt­cy unless it can raise cash.

(With inputs from agencies)

The views and rec­om­men­da­tions made above are those of indi­vid­ual ana­lysts or broking com­pa­nies, and not of Mint. 

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