Bitcoin consolidates around $30,800 as traders eye FOMC minutes: Experts

After reaching a high of over $31,000 yesterday, Bitcoin is currently consolidating around $30,800. Despite being down 54 per cent from its all-time high, Bitcoin has still experienced a remarkable 86 per cent gain year-to-date, say, experts. The market currently appears balanced, with neither bulls nor bears asserting dominance.

“If the price manages to sustain above the $31,000 level in the coming days, there is a possibility of Bitcoin surpassing the $32,000 threshold,” Alankar Saxena, CTO, Mudrex told Republic.

 

“Liquid staking tokens (LSTs) have begun to pick up momentum this month as the second half of the year edges closer toward a highly anticipated Ethereum upgrade,” CoinDCX Research Team told Republic.

“Bitcoin experienced another day of range-bound trading as bulls continue to wait for a clear break-out above $31,500, while bears seem to be failing to break the $30,600 level,” Shubham Hudda, Senior Manager, CoinSwitch told Republic

Meanwhile,India’s own Ethereum layer 2 scaling solution Polygon’s cofounder Sandeep Nailwal announced that a Polygon-based startup Airchain has partnered with the West Bengal Government to digitally track and record land ownership. This is a step further in blockchain’s real-world adoption and long-term bullish news for Polygon’s native token MATIC.

Prices listed were last checked at 10:00 am today according to Investing.com            

Bitcoin (BTC) 

Bitcoin is holding steady above $30,000 as prospective issuers refile their Bitcoin ETF applications after the SEC decided to declare the previous applications inadequate according to experts.

Ethereum (ETH) 

Ethereum dropped to $1,938.30, almost a 1 per cent drop in the last 24 hours. It has witnessed 3.74 per cent in the last seven days with a market cap of $232.91 billion.

Dogecoin (DOGE) 

Dogecoin surged almost 6 per cent to $0.068926 in the last seven days. It has seen a gain of 0.3 per cent in the last 24 hours with a market cap increasing to $9.66 billion.

Litecoin (LTC) 

Litecoin lost 3.14 per cent in the last 24 hours after being the biggest gainer since Monday. However,  the seven days price change is an increase of 20 per cent with a market cap of $7.72 billion.

Solana (SOL)

Solana gained almost 19 per cent in the last seven days with a market cap of $7.72 billion.

Ripple (XRP) 

Ripple’s value has gained 1.87 per cent in the last seven days and stood at $0.49142 with a market cap of $25.68 billion.