The crypto tokens had been buying and selling increased in Tuesday’s commerce forward of a key US Federal Reserve coverage assembly tomorrow. Bitcoin (BTC) rose 0.92% to $26,864, whereas Ethereum (ETH) was above the 1,600 degree.
Meanwhile, the worldwide cryptocurrency market cap was buying and selling increased, round $1.07 trillion, rising 0.76% within the final 24 hours.
The crypto market has traded sideways with an upward bias within the final 24 hours. It has been one other constructive day for BTC because it touched $27.4k earlier than pulling again somewhat. In truth, the final 8 days have been fairly constructive for the crypto market with BTC rising round 10% from the native prime to backside, mentioned Shubham Hudda, Senior Manager, CoinSwitch Markets Desk.
Meanwhile, Edul Patel, CEO & Co-founder of Mudrex, mentioned, “Over the past 24 hours, Bitcoin rose above the US$27,000 mark, marking its highest point since August 31st. This surge is in anticipation of the U.S Federal Reserve’s upcoming meeting, scheduled for tomorrow, where the market expects the Federal Open Market Committee (FOMC) to momentarily halt interest rate hikes.”
Other prime crypto tokens had been additionally buying and selling increased on Tuesday. XRP, Cardano, Toncoin, Solana and Litecoin surged 2-4%.The whole quantity in DeFi is at the moment $2.27 billion, 7.59% of the overall crypto market 24-hour quantity. The quantity of all stablecoins is now $27.45 billion, which is 91.68% of the overall crypto market 24-hour quantity.
Bitcoin’s dominance is at the moment 49.06%, in response to CoinMarketCap. Meanwhile, BTC quantity within the final 24 hours stood at roughly $15.06 billion, rising 98.61% within the final 24 hours.”Bitcoin rallied towards to its 20-week MA after bouncing off its critical support level at $25,000. Traders believe that this is a short-term relief post its death cross earlier this month. BTC is now facing immediate resistance at $27,200 which it must overcome to continue the rally,” Vikram Subburaj, CEO of Giottus Crypto Platform, mentioned,
“US FOMC meeting this week will provide additional impetus if the US Fed holds its interest rates,” Subburaj added.
Meanwhile, Shivam Thakral, CEO of BuyUcoin mentioned, “Rising oil prices and uncertain macroeconomic factors may restrict the market momentum in the coming weeks.”
Crypto Cart: Quick Glance (Source: coinmarketcap.com, knowledge as of 10.23 hours, IST on September 19, 2023)
Bitcoin $26,864 0.92%
Ethereum $1,638 0.49%
Tether $1 0.01%
BNB $217 -0.04%
XRP $0.5099 2.52%
Cardano $0.2549 2.30%
Dogecoin $0.06247 1.20%
Solana $19.93 4.49%
Polygon $0.5304 1.75%
Litecoin $67.06 3.66%
Polkadot $4.12 -0.05%
Tron $0.08451 0.55%
Shiba Inu $0.000007303 0.25%
Toncoin $2.44 4.72%
(Note: Price change in final 24 hours)
(Disclaimer: Recommendations, options, views and opinions given by the consultants are their very own. These don’t symbolize the views of The Economic Times)
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