Crypto Price Today: Bitcoin slips below $29,800; Tron, XRP decline up to 3%
Bitcoin (BTC) declined 0.42% to $29,793, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $10 billion, rising 22.28% in the last 24 hours.
“Bitcoin continues to trade below the $30000 mark at around $29780. The price of Bitcoin did not rise about $30000 over the weekend. This recent price decline could be because of the US SEC chair expressing disappointment with the defeat over XRP’s case and increasing selling pressure,” Edul Patel, Co-founder and CEO at Mudrex, said.
“There could be little volatility this week as FOMC’s decision on interest-rate policy is due on Wednesday,” Edul added.
Other top crypto tokens were also trading lower. XRP, BNB, Cardano, Dogecoin, and Solana were also trading lower. The global cryptocurrency market cap was trading lower, around $1.19 trillion, falling 0.49% in the last 24 hours.The total volume in DeFi is currently $2.41 billion, 9.91% of the total crypto market 24-hour volume. The volume of all stablecoins is now $21.26 billion, which is 87.44% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $578 billion. Bitcoin’s dominance is currently 48.58%, an increase of 0.04% over the day, according to CoinMarketCap.”Bitcoin has been facing challenges in breaking above the $31,000 resistance level, while also finding support near the $29,500 mark. The lack of a decisive breakout indicates a consolidation phase, with the price oscillating within a range,” said ZebPay Trade desk.
“The price of Bitcoin has also been hovering below the 20-day exponential moving average ($30,036), which serves as a short-term resistance level. Bitcoin has strong resistance at $32,500 whereas $28,500 will act as a strong support,” it said.
Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said, “Bitcoin is currently showing low volatility in the trading range, a decisive close above the key $29,600 level could trigger an upward move for the cryptocurrency. A break of resistance at $31,400 could set the stage for further upside, with another major target potentially around $32,500.”
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.18 hours, IST on July 24, 2023)
Bitcoin $29,787 -0.44%
Ethereum $1,870 -0.28%
Tether $1 0.02%
BNB $241 -0.54%
XRP $0.7263 -1.95%
Cardano $0.3132 -0.59%
Dogecoin $0.0713 -0.60%
Solana $24.4 -1.40%
Polygon $0.7415 -1.55%
Litecoin $92.39 -0.26%
Polkadot $5.34 -1.25%
Tron $0.08126 -3.60%
Shiba Inu $0.000007789 -0.43%
(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)
