The price of Bitcoin increased by around 0.5 percent, staying close to the $26,500 barrier, while the price of Ethereum increased by nearly a percent to cross the $1,600 threshold.

On Thursday, the price of bitcoin and other cryptocurrency tokens fluctuated as market jitters were caused by rising interest rates and macroeconomic variables. In testimony before Congress on Wednesday, US Securities and Exchange Commission (SEC) Chair Gary Gensler maintained his confrontational stance against cryptocurrency.

The biggest cryptocurrency token, Bitcoin, added roughly 0.5 percent but still managed to stay around $26,500 levels. However, Ethereum, its biggest rival, increased by nearly 1% to surpass $1,600 once more. Altcoin price movement remains inconsistent.

The price of bitcoin is currently more than $26,300. This increase comes as the US dollar index hits a new high for the 10-month period of 106.48. Ethereum has been circling the $1,600 mark in the meantime. Other news includes Ethereum hitting $10 billion in sales in less than seven years, which is a tremendous milestone.

On Thursday, trade in the biggest crypto tokens was mixed. The gainers included Toncoin, which increased by more over 2% apiece, and Solana, which increased by about 1% each. On the other hand, Litecoin, XRP, and Polygon all experienced little declines of around 1%, while BNB and Dogecoin each experienced a 5% decline.

The market capitalization of all cryptocurrencies fell to the $1.05 trillion threshold, trading marginally higher, having increased by around 0.5 percent over the previous day. The total trading volume did, however, increase by more than 48% to $28.87 billion.

Bitcoin briefly displayed a minor pump in the most recent 24 hours before running into resistance at its 50-DEMA. The markets anticipate that Bitcoin will reach a level of $30,000 soon. To expect an upward rise in the near term, a support level of $26,000 must be sustained.

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