Crypto Price Today: Bitcoin falls below $28,200; XRP, Polygon decline up to 5%

New Delhi: The cryptocurrency markets were trading in the red on Monday after a better-than-expected April US jobs data. Bitcoin (BTC) fell 2.81% to $28,171, whereas Ethereum (ETH) was below the $1,900 level. BTC volume in the last 24 hours stood at approximately $13.28 billion, falling 11.59% in the last 24 hours.

“After the US Job growth remained strong in April, Bitcoin rose to US$29,800 on Saturday. However, Bitcoin and Ethereum fell in the past 24 hours following Binance halting Bitcoin withdrawals for the second time in a day, citing large volumes,” Edul Patel, Co-founder and CEO at Mudrex, said.

The global cryptocurrency market cap was trading higher around $1.16 trillion, falling 2.53% in the last 24 hours.

The total volume in DeFi is currently 2.82 billion, 8.45% of the total crypto market 24-hour volume. The volume of all stablecoins is now $29.28 billion, which is 87.74% of the total crypto market 24-hour volume.

The market cap of Bitcoin, the world’s largest cryptocurrency, was around $545 billion. Bitcoin’s dominance is currently 47.09%, a loss of 0.08% over the day, according to CoinMarketCap.

Binance had suspended deposits and withdrawals in March due to technical issues, during that period BTC dropped by about 1%.

For BTC, the Exponential Moving Average for 10-day EMA indicates sell at 28,733, and the 200-day EMA indicates buy at 24,630. The Simple Moving Average for 10-day SMA indicates sell at 28,828, and the 200-day SMA indicates buy at 22,139.Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 47, with a neutral outlook. The Stochastic %K (14, 3, 3) at 50 and the Average Directional Index (14) at 16 indicate a Neutral outlook as well.”

“The MACD Level (12, 26), at 83, indicates Sell. The Stochastic RSI Fast (3, 3, 14, 14) is Neutral at 31 and William’s Percentage is Neutral at −63 as well,” Menon added.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.57 hours, IST on May 08, 2023)

Bitcoin: $28,171 | -2.81%
Ethereum: $1,863 | -2.29%
Tether: $1.00 | -0.02%
BNB: $318 | -1.94%
XRP: $0.4384 | -4.48%
Cardano: $0.3685 | -3.65%
Dogecoin: $0.07477 | -3.07%
Polygon: $0.9333 | -4.59%
Solana: $21.28 | -3.53%
Polkadot: $5.46 | -3.61%
Tron: $0.06875 | 1.96%
Litecoin: $81.89 | -2.33%
Shiba Inu: $0.000008989 | -4.54%

(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)