Quick analysis of cryptocurrency prices on October 24: The value of the worldwide market grew to $1.28 trillion.

Early on Wednesday, Bitcoin (BTC) maintained its $34,000 level as the market as a whole had a Fear & Greed Index of 72 (greed), according to CoinMarketCap. Notable altcoins witnessed slight increases across the board, including Dogecoin (DOGE), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Litecoin (LTC). With a surge of more than 10% in a day, Theta Network (THETA) emerged as the biggest gainer. However, BitTorrent(New) saw a 24-hour decline of more than 8 percent, making it the biggest loser.

At the time of writing, the value of the entire cryptocurrency market was $1.28 trillion, an increase of 0.18 percent in a day.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $34,465.98, representing a gain of 0.41 percent in a day. BTC was currently priced at Rs 29.62 lakh, according to Indian market WazirX.

Ethereum Price Today
At the time of writing, the price of ETH was $1,812.23, a 0.64 percent increase in just 24 hours. Ethereum’s price in India was Rs 1.57 lakh, according to WazirX.

Dogecoin Price Today
As of right now, DOGE is trading at $0.06756, and according to CoinMarketCap data, it lost 2.43 percent in a day. The price of Dogecoin in India was Rs 5.87, according to WazirX.

Litecoin Price Today
Litecoin gained 0.88 percent in a day. As of writing, its trade price was $68.40. The cost of LTC was Rs 5,900.48 in India.

Ripple Price Today
The price of XRP was $0.594, up 3.03 percent in a day. The price of ripple was Rs 51.09 according to WazirX.

Solana Price Today
At $38.22, the price of Solana represented a rise of 6.22 percent in a day. WazirX reports that the price of SOL in India was Rs 3,090.

Quick summary of the cryptocurrency price on July 10: The total market capitalization decreased to $1.17 trillion.

The oldest and most valuable cryptocurrency in the world, Bitcoin, was able to hold steady around the $30,000 mark early Friday as most coins witnessed a combination of gains and losses. Popular cryptocurrencies witnessed very modest movement overall, with Ethereum (ETH) failing to recapture the $1,800 level over the weekend. These include coins like Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), and Ripple (XRP). Compound (COMP) emerged as the highest gainer of the group, rising more than 11% in a single day. Wrapped Bitcoin (WBTC), which suffered a 24-hour loss of more than 7 percent, emerged as the greatest loser.

At the time of writing, the market capitalization of all cryptocurrencies was $1.17 trillion, down 0.63 percent over the previous day.

Bitcoin Price Today
According to CoinMarketCap, the price of one bitcoin was $30,183.19, down 0.44 percent over the previous day. WazirX, an Indian exchange, reported that the price of one bitcoin was Rs 26 lakh.

Ethereum Price Today
At the time of writing, the price of ETH was $1,863.28, a 24-hour decline of 0.28 percent. According to WazirX, the price of Ethereum in India was Rs 1.60 lakh.

Dogecoin Price Today
Currently trading at $0.06483, DOGE saw a 24-hour loss of 2.08 percent, according to statistics from CoinMarketCap. Dogecoin’s price in India as of WazirX was Rs 5.60.

Litecoin Price Today
Litecoin experienced a 3.65% 24-hour decline. Its price at the time of writing was $93.82. In India, LTC was priced at Rs 8,200.

Ripple Price Today
The price of XRP was $0.4662, down 1.04 percent over the previous 24 hours. The price of ripple, according to WazirX, was Rs 40.

Solana Price Today
The price of solana was $21.34, down 1.93 percent over the previous day. SOL cost Rs 1,869.99 in India, according to WazirX.

Cryptocurrency values increased, recovering from their decline on Wednesday after the Federal Reserve raised interest rates.

The SEC is increasing its enforcement efforts against cryptocurrency companies, and on Wednesday it sent Coinbase (COIN) a warning for possible securities breaches.

Following the Fed decision on Wednesday, bitcoin fell as low as $26,685 before recovering to around $28,200 by late Thursday. Prior to the report, on Wednesday, Bitcoin reached its highest intraday level since June 11 at $28,889 per coin. BTC has recovered from its monthly bottom under $19,800 from March 10 to be up 20% so far in March. The biggest cryptocurrency in the globe has increased by 70% so far in 2018.

Ethereum surged to $1,815 late on Thursday, surpassing its previous March peak of $1,858. Ethereum has recovered from its monthly bottom of $1,385 on March 10 to be up 9.6% so far this month. The #2 cryptocurrency is trading at its highest values since mid-August and is up 51% year to date.

Cryptocurrency Prices

Bitcoin Price $28206.20

Ethereum Price $1811.19

Tether Price $1.00

BNB Price $327.55

XRP Price $0.43

Cardano Price $0.37

Polygon Price $1.14

Dogecoin Price $0.077

Solana Price $22.14

Polkadot Price $6.40

Tron Price $0.06721

Shiba Inu Price $0.000011

Litecoin Price $93.58

Friday early trading in Asia saw bitcoin rise to almost US$25,000. As global stock markets stabilized as a result of actions taken by authorities in the U.S. and Europe to backstop banks with cash after a series of failures in the industry this past week threatened to spread, Ether and the other top 10 non-stablecoin cryptocurrencies saw gains as well. As a U.S. judge overruled government objections and authorized the Binance US$1 billion deal to acquire insolvent crypto lender Voyager, BNB led the cryptocurrency winners.

Quick Facts

According to statistics from CoinMarketCap, Bitcoin increased 2.75% in the last day to reach US$24,973 at 9:00 a.m. in Hong Kong. The greatest gain among the top 10 non-stablecoin cryptocurrencies by market capitalization was recorded by the largest cryptocurrency in the world, which increased by 24% over the previous seven days. Bitcoin, according to some pundits, served as a secure haven for investors this week as bank failures shook the world’s equity markets.

In the last seven days, ether has risen 17%, edging up 1.32% to trade at US$1,668.

Binance’s native token, BNB, which saw a 7.56% increase to US$327.98 on Friday, topped the winners. On Wednesday, a U.S. court magistrate denied the government’s request to stop Binance U.S. from offering $1 billion to purchase the assets of the defunct Voyager platform. For the seven-day span, the token increased by 19.51%.

The Matic token from Polygon increased 2.88% to US$1.14, posting a monthly gain of 14.04%. Salesforce, one of the largest enterprise software companies in the world with a market cap of more than US$150 billion, has partnered with Polygon blockchain to assist its customers in developing non-fungible token-related (NFT) programs, according to a tweet from Polygon Labs on Thursday. For Web3 developers, Saleforce had earlier released a set of customer relationship management tools.

In the previous day, the overall market value of cryptocurrencies increased by 1.91% to US$1.08 trillion. Over the previous 24 hours, the total trading amount decreased 25.30% to US$61.92 billion.

In a rally for relief, U.S. stocks ended the day stronger on Thursday. The S&P 500 increased by 1.76%, the Nasdaq Composite Index increased by 2.48%, and the Dow Jones Industrial Average increased by 1.17%.

Gains in stocks followed Credit Suisse’s announcement on Thursday that it would draw up to $50 billion (US$54 billion) from the Swiss National Bank to support liquidity. On the American side, First Republic Bank received a $30 billion injection from 11 U.S. financial organizations on Thursday after the bank’s stock price dropped precipitously due to run-on-the-bank concerns.

The U.S. “banking system remains sound,” according to Treasury Secretary Janet Yellen, who also stated that “the Federal Reserve is providing additional support to the banking system with a new lending facility.”

On the inflation front, the U.S. Department of Labor on Thursday reported a drop in unemployment benefit claims in the week ending March 11 that was more than expected, indicating a strong labor market that supports the view the Federal Reserve will raise interest rates again this month.

The range of U.S. interest rates is 4.5% to 4.75%, which is the greatest level since October 2007. CME Group analysts predict that there is a 79.7% possibility that the Fed will increase interest rates this month by 25 basis points. The likelihood of no rate rise has decreased from 45.4% on Thursday to 20.3%.

The U.S. consumer price index (CPI) increased by 6% year over year in February, slowing from January’s 6.4% increase but still exceeding the Federal Reserve’s target of keeping yearly inflation below 2%.

As of 9:00 a.m. in Hong Kong, U.S. market futures were trading flat to lower, with the Dow Jones Industrial Average futures down 0.14%. The Nasdaq Composite Index declined by 0.03% while the S&P 500 futures fell by 0.11%.

As traders awaited Jerome Powell, the head of the US central bank, to make a statement, the global cryptocurrency market was trading flat. Trading volumes, however, stayed noticeably lower, indicating that the market is currently in a bearish mood and that further declines may be possible.

The price of bitcoin was essentially unchanged from the previous day’s transactions. In the midst of the volatility, the largest cryptocurrency asset was circling around the $22,500 level. While Ethereum, its biggest rival, was slightly up, rising by just over 0.5 percent, it stayed below the $1,600 mark. However, altcoins stayed quiet.

The weekend was challenging for the cryptocurrency markets as traders and buyers processed the significant negative development from the previous week involving the crypto-friendly bank Silvergate Capital. According to Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, the stock experienced extreme pressure after it failed to submit its 10-K filing as concerns over bankruptcy gained momentum.

With a few notable outliers, the majority of the most valuable and well-known crypto tokens were trading higher on Tuesday. Avalanche increased by about 3%, while XRP and Polygon each increased by more than 2%. Cardano lost about 1%, followed by Litecoin and Solana as the casualties.

In the previous day, the market capitalization of all cryptocurrencies increased marginally to trade at $1.03 trillion. But the overall selling volume fell by as much as 12%, or about $32.69 billion.

Following the collapse of Silvergate, one of the primary banking providers for the cryptocurrency industry, the total crypto market cap, including all the major tokens, fell by more than 5% over the past week, according to WazirX in its report.

The company has become a favourite among women looking to engage in cryptocurrencies. I’m incredibly happy to report that more than one-fourth of BuyUcoin’s investors are women, and we’ve gotten a tonne of interest from female users since the formal tax system was introduced last year.

After a 10% increase in the middle of the week of February 2023, Bitcoin (BTC) has been closing in the red for the last few weeks. However, as the trend maintained its upward momentum, BTC seemed to indicate promise. Bitcoin’s daily chart is moving through a rising channel pattern with higher lows.

The price of Bitcoin has dropped by almost 4% over the last week, reflecting the recent volatility the cryptocurrency has been going through. BTC is currently edging closer to a crucial support level, and analysts are carefully watching the market to see where the next target for the digital asset will be.

Examining the variables that may have an immediate and long-term effect on the price of bitcoin is crucial in this context.

How Increasing Interest Rates Impact Digital Assets Like Bitcoin

According to the Personal Consumption Expenditures (PCE) report published by the Bureau of Economic Analysis (BEA) on February 24, inflation increased 5.4% in January compared to the prior year.

Since January 2022, core inflation has risen by 4.7%, the preferred inflation measure of the Federal Reserve. As a result of increasing inflation, the US Dollar Index (DXY) climbed to 105.26, its highest level since January 6.

In order to combat inflation, more interest rate increases are anticipated. The Federal Reserve has established a target of 2% overall inflation. The majority of the market believes that the Federal Reserve will keep raising interest rates as a consequence of the potential rate hikes.

BTC/USD fell after the PCE data showed a rise in inflation of 5.4% in January, demonstrating Bitcoin’s sensitivity to rising interest rates.

Bitcoin Price
BTC/USD started selling at $23,177.00 on February 26. Its current price of $23,245.00 represents a rise of 0.78% over the previous 24 hours. In the previous day, BTC/USD traded at a high of $23,302.00 and a low of $23,083.00. But over the last week, BTC’s worth has dropped by more than 5.5%.

The immediate support level for the BTC/USD combination is $22,800; if it is breached, the price of BTC may be exposed to the next support area at $22,150.

The $23,500 level continues to be a point of resistance for bitcoin, while the $22,800 level continues to be its direct support. If the price of Bitcoin breaks through the support level, it may reach the next support level at $22,150.

However, given that the BTC/USD pair has crossed into the oversold region, there is a possibility that BTC will bounce back and surpass the resistance mark at $23,500, which could lead to a price of $24,250.

Quick analysis of the cryptocurrency market on February 24: On Friday morning, the market capitalization of all cryptocurrencies was $1.09 trillion.

The eldest and most valuable cryptocurrency in the world, Bitcoin (BTC), fell under the $24,000 threshold early on Friday as the value of all coins plummeted. Other well-known cryptocurrencies, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), all ended the day in negative territory. With a 24-hour increase of nearly 10%, the Bone ShibaSwap (BONE) coin was able to surpass all other gainers. With a drop of over 10% over the course of a day, the NEO token turned out to be the largest loser.

At the moment of writing, the market capitalization of all cryptocurrencies was $1.09 trillion, down 1.67 percent over the previous 24 hours.

Bitcoin price today
According to CoinMarketCap, the price of one bitcoin was $23,976.21, a decline of 2.06 percent over the previous 24 hours. The price of Bitcoin was Rs 20.51 lakhs, according to Indian platform WazirX.

Ethereum price today
At the time of writing, the price of ETH was $1,650.94, a decline of 1.09 percent over the previous 24 hours. According to WazirX, the price of ethereum in India was Rs. 1.42 crores.

Dogecoin price today
Currently trading at $0.08443, DOGE experienced a 24-hour loss of 1.77 percent, according to statistics from CoinMarketCap. WazirX reports that the Dogecoin price in India was Rs 7.37.

Litecoin price today
Over the past 24 hours, Litecoin fell 1.26 percent. It was currently selling at $94.50 at the time of writing. The cost of LTC in India was Rupees 7,953.32.

Ripple price today
The price of XRP was $0.39, down 1.47 percent over the previous 24 hours. The price of ripple was Rs 33.20, according to WazirX.

Solana price today
The price of XRP was $0.39 after a 1.47 percent drop over the previous 24 hours. According to WazirX, the cost of ripple was Rs 33.20.

On Thursday, most cryptocurrencies saw an increase in worth. The market capitalization of all cryptocurrencies was $1.1 trillion, with a volume of roughly $60.9 billion over the previous day.

Bitcoin
The biggest and most well-known virtual money in the world, Bitcoin, increased 1.6 percent to $24,564.2. The market price of it was $470,3 billion. The value of the transaction was $28.9 billion.

Following the publication of the minutes from the January FOMC meeting, Bitcoin dropped to $23,600 yesterday. Despite the fact that it had just hit a peak, traders may have changed their attention to locking in profits, which led to a decline in price.

Ethereum
The second-largest virtual money, increased by two percent to $1,678.1 and has a market value of $202.5 billion. In the previous day, Ethereum trades were worth almost $8.8 billion.

“ETH has typically traded between $1,600 and $1,650. Overall, market players appear to be responding to the FOMC release in a variety of ways.”

Dogecoin
A virtual currency founded on memes, increased 1.9 percent on Thursday. It was valued at $11.4 billion on the market. The value of the transaction was $741.80 billion.

Shiba Inu
Shiba Inu market capitalization increased by 4% to $7.4 billion. In the previous 24 hours, there were $377.7 million in trades.

Solana
Solana increased 0.6 percent to $24.6 and has a $9.3 billion market value. In the previous 24 hours, Solana saw trades worth $841.4 million.

Polygon
The market capitalization of Polygon increased by 3.3 percent to $12.4 billion. In the last 24 hours, there were $692.2 million worth of transactions.

On Wednesday, the value of most cryptocurrencies decreased. The market capitalization of all cryptocurrencies was $1.1 trillion, with a volume of approximately $68 billion during the previous day.

Bitcoin
Bitcoin, the biggest and most used virtual currency in the world, dropped 3% to $24,182.9. It had a market value of $465 billion. The value of the trade was $32.2 billion.

In the last 24 hours, Bitcoin dropped from its prior peak and reached $24,000 after a rapid change in market sentiment for cryptocurrencies. Bulls were unhappy as BTC failed to surpass its resistance level at $25,200 despite achieving a high of $25,100.

Ethereum
The second-largest virtual currency, dropped 3.9 percent to $1,643 and now has a market value of $200.9 billion. In the previous day, $9.1 billion worth of Ethereum was traded.

“Ethereum’s value also dropped, dropping below $1,700 as bears took control of the market. Support for ETH is currently at $1,630, and resistance is at $1,650.”

Dogecoin
The meme-based virtual currency Dogecoin fell 4%. It was valued at $11.2 billion in the market. There were $493.9 million in trades.

Shiba Inu
Shiba Inu market capitalization fell by 5.1 percent to $7.1 billion. In the previous 24 hours, there were $351.7 million in transactions.

Solana
Solana lost 6.1 percent to $24.4 and now has a $9.2 billion market cap. $926.7 million worth of Solana’s shares were traded in the previous day.

Polygon
With a $1.4 billion market capitalization, Polygon fell 8.8%. In the previous 24 hours, there were $499.9 million in trades.

With a trade volume of $40 billion entering the market, Bitcoin price has been rising. The BTC/USD pair, which is presently trading at $24,372.00, has decreased by less than 1% during the last 24 hours. Notwithstanding this recent decline, its value has increased noticeably by more than 11% over the past seven days.

The most popular cryptocurrency in the world is receiving fresh attention as a result of this spike, and investors are eagerly scanning for the next important levels to monitor.

Let’s look more closely at the essential cryptocurrency market fundamentals that can be affecting the overall price movement.

Bitcoin Ordinals

A brand-new class of digital asset called Ordinal Inscriptions was introduced in January 2023. They resemble non-fungible tokens but differ in that they are printed on satoshis, the smallest unit of value in the Bitcoin currency (NFTs).

The demand for Ordinal inscriptions has significantly increased since the end of January. There were more than 150,000 inscriptions in use as of February 19.

The Ordinals Protocol gives users the ability to embed references to digital art into modest payments, resulting in the creation of non-fungible tokens based on Bitcoin (NFTs). Since its introduction in January 2023, this protocol has grown significantly in popularity; by February 19, there had been over 150,000 inscriptions.

The Ordinals Protocol has the ability to increase the network security of the cryptocurrency while encouraging developers to add cutting-edge features by encouraging the development of Bitcoin NFTs. It is also noteworthy that the introduction of the Ordinals Protocol was timed to a significant rise in the BTC/USD price.

Bitcoin Price

From a technical standpoint, Bitcoin is currently trading sideways, and its price range has been constrained at $23,700 to $25,200. The BTC/USD pair’s immediate resistance level is positioned at $25,200, and a break through it might push the price of bitcoin to $26,000.

Ethereum Price

The price of Ethereum is $1,699.48, a change of 0.60% over the last 24 hours. The market capitalization of Ethereum tokens was $202,997,472,837.18 following the most recent price movement. Ethereum has had a change of 41.99% so far this year.