Crypto Price Today: Bitcoin below $23K; Solana, Ethereum shed up to 7%
BTC volume in the last 24 hours stood at approximately $26.77 billion, rising 4.12% in the last 24 hours.
“Bitcoin, Ethereum, and most cryptocurrencies fell in the past 24 hours ahead of the first US Fed meeting of 2023, which is to be held on Wednesday. Bitcoin was below the $23,000 mark, dropping by 4%. Ethereum also fell below the $1,600 level, down by 3%. The support for BTC now lies at the $22,700 level, while the resistance is at $23,000,” Edul Patel, CEO and Co-Founder of Mudrex, said.
“However, on the other hand, Dogecoin gained by 5% after Elon Musk wanted the Twitter payments system to accommodate crypto. Volatility may persist ahead of the Fed meeting and the Indian Union Budget release,” Edul added.
Other top crypto tokens were also trading lower on Tuesday. Solana fell 7%. Polkadot, Shiba Inu, Polygon, and XRP were also trading with cuts.
The global cryptocurrency market cap was trading lower around $1.04 trillion, falling 3.29% in the last 24 hours.
The price of Bitcoin, the world’s largest cryptocurrency, was around $439.77 billion, with a dominance of about 42.32%, a decrease of 0.16% over the day, according to CoinMarketCap.”The digital asset market is showing signs of gradual recovery as BTC is up by 39% this month. However, the current situation may change tomorrow as the Fed meeting is scheduled for tomorrow, which could be the litmus test for the digital asset market. If Fed continues with hike rates, then we may see individuals moving away,” Mahin Gupta, Founder of Liminal, said.
Cryto Cart: Quick
(Source: coinmarketcap.com, data as of 11.35 hours, IST on January 31, 2023)
Bitcoin $ 22,788 -4%
Ethereum $1,564 -4.36%
Tether $1 -0.01%
USD Coin $0.9999 -0.01%
BNB $311.45 -1.09%
XRP $0.3901 -5.45%
Dogecoin $0.09209 3.33%
Cardano $0.3701 -5.69%
Polygon $1.08 6.44%
Polkadot $6.18 -5.46%
Tron $0.0627 -1.13%
Litecoin $94.53 -0.41%
Shiba Inu $0.00001165 -3.49%
Solana $23.77 -6.91%
(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)
