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 Thursday, the cryptocurrency market extended its gains, with Bitcoin and other digital coins trading sharply higher. Investors are optimistic about the Fed’s next monetary policy moves, despite sluggish US consumer data. Short covering in select tokens aided sentiments as well.

Bitcoin surged past the $24,000 mark, as the top crypto token extended its gains and gained 12%. Ethereum, its largest peer, also gained double digits and was just shy of the $1,700 mark. A few altcoins increased by up to 22%.

Following a month of ups and downs, the cryptocurrency market is preparing for a positive outlook. According to ZepPay Trade Desk, the Federal Reserve has raised interest rates by one percentage point in three quarters, the largest increase since 1994.

Bitcoin has now surpassed $21,000 and is trading above $24,000. Other crypto assets that trade alongside Bitcoin, such as Ethereum (ETH) and Binance’s native token BNB, have also seen significant gains.

With the exception of US dollar-pegged stablecoins, all major top crypto tokens were trading with significant gains on Thursday. Aside from Bitcoin, Avalanche increased by 12% and Solana increased by 11%. Ethereum, Shiba Inu, and BNB all increased by 9%, while Dogecoin increased by 8%.

The global cryptocurrency market capitalization was trading sharply higher at $1.12 trillion, up nearly 9% in the last 24 hours. However, total trading volumes increased by more than 23% to $71.47 billion.

 

During the early Asian trading hours on Tuesday, the cryptocurrency market was trading little lower. Due to the support from regulators, BNB was falling while Bitcoin and Ethereum were trading flat. Recently, American regulators have been keeping a close eye on cryptocurrency.

The largest crypto asset, Bitcoin, continued to show some weakness and trade below the $22,000 level. In the early trade, Ethereum, its biggest peer, lost another 1% and narrowly held the $1,500 barrier. Some alternative currencies were, nevertheless, facing intense pressure.

In the previous day, Bitcoin’s price fell further as market sentiment remained negative ahead of the anticipated US inflation report. On Monday, Bitcoin prices reached a multi-week low.

“Bitcoin’s immediate support is at a price of $21,650, while its immediate resistance is at a price of $21,800. Ethereum, on the other hand, also saw a one-month low. The price has been fluctuating between $1,400 and $1,500.

Except for a couple, all of the biggest top crypto tokens were trading lower on Tuesday. BNB fell by 6%, whereas Polygon, Litecoin, and Shiba Inu all increased by 3%. Tron gained more than 3%, and Solana gained 1%, among the gainers.

The market capitalization of all cryptocurrencies fell by nearly 1% on the previous day, narrowly holding the $1 trillion level. However, the overall trade volume increased by about 36%, reaching $56.46 billion.

Early on February 9, major cryptocurrencies experienced negative trading as the market cap of all cryptocurrencies fell by 2.32 percent, to $1.06 trillion, from the previous day. $57.38 billion has been traded on the crypto market in the last day, an increase of 7.61 percent.

DeFi’s total 24-hour volume is $5.82 billion, or 91.27 percent of the total crypto market volume. All stable coin volume is currently $52.29 billion, or 91.27% of the 24-hour volume of the whole crypto market.

According to Coinmarketcap, the price of Bitcoin, the biggest cryptocurrency in the world, fluctuated around Rs 19.40 lakh, with its market share at 41.38 percent, up 0.15 percent from the previous day.

In other news, this year the US securities watchdog will have jurisdiction over cryptocurrency brokers and investment advisers that offer or provide guidance on cryptocurrencies.

  • Bitcoin Price 19,38,914
  • Ethereum Price 1,39,300.0
  • Tether Price 85.92
  • Cardano Price 33.60
  • Binance Coin Price 27,350.52
  • Ripple Price 33.1605
  • Polkadot Price 573.97
  • Dogecoin Price 7.5500

On Wednesday, cryptocurrencies continued to increase. The market capitalization of all cryptocurrencies was $1.08 trillion, with a volume of $61.67 billion over the previous day.

Bitcoin
The biggest and most well-known virtual currency in the world, Bitcoin, increased 1.7 percent to $23,263. It had a $448.35 billion market value. The value of the trade was $27.58 billion.

Ethererum
The second-largest virtual currency, increased 2.9 percent to $205.3 and reached a market capitalization of $205.3 billion. In the previous day, $8.6 billion worth of Ethereum was traded.

Shiba Inu
Shiba Inu gained 1.6 percent and now has a $7.9 billion market cap. In the previous 24 hours, there were $492,2 million in transactions.

Solana
Solana increased by 3.7 percent to $23.9 and now has a $8.9 billion market cap. In the previous 24 hours, Solana saw $659.3 million in trading.

Polygon
With a $11.1 billion market capitalization, Polygon increased 4.7 percent. In the previous 24 hours, there were $613.1 million in trades.

Major cryptocurrencies were trading in the red early on February 7, with the global crypto market cap falling 0.60 percent to $1.06 trillion in the previous day. The total crypto market volume over the last 24 hours has increased by 4.18 percent to $49.85 billion.

The total volume in DeFi was $4.90 billion, accounting for 9.83 percent of the total 24-hour volume in the crypto market. The total volume of all stable coins was $44.74 billion, accounting for 89.73 percent of the total 24-hour volume of the crypto market.

According to Coinmarketcap, the price of Bitcoin, the world’s largest cryptocurrency, was hovering around Rs 19.42 lakh, with its dominance at 41.52 percent, a 0.02 percent decrease over the day.

In other news, Britain’s financial watchdog warned crypto businesses on Monday to prepare for tighter advertising rules later this year, warning that any violations could result in up to two years in prison.

  • Bitcoin Price 19,23,108
  • Ethereum Price 1,38,000.0
  • Tether Price 85.12
  • Cardano Price 3.4990
  • Binance Coin Price 27,506.00
  • Ripple Price 33.19
  • Polkadot Price 557.80
  • Dogecoin Price 7.7700

After US Federal Reserve Chair Jerome Powell stated that inflation is beginning to ease, the crypto market experienced a mixed trading performance. The Federal Reserve raised interest rates by 0.25 percent. Bitcoin (BTC) increased 3.11 percent to $23,788, while Ethereum (ETH) surpassed $1,600. Over the last 24 hours, BTC volume has been around $30.58 billion, up from 37.16 percent.

BTC’s price surpassed even the most optimistic price forecasts last week. Bitcoin gained 6.5 percent in five hours after testing the $22,500 support level on February 1st, and has been flirting with the $24,000 level ever since. It’s also worth noting that Bitcoin’s 40-day correlation to the S&P 500 remains above 75%.

Traders will be looking to see if Ether bulls can keep the price within the bullish triangle formation for the next two weeks. If the macro environment permits, ETH derivatives suggest a possible rally to $1,800. Meanwhile, Ethereum Foundation developer Parithosh Jayanthi announced the February launch of the “Zhejiang” public test net.

Bitcoin
Bitcoin began trading higher after breaking out above the range, forming a ‘Higher High Higher Low’ pattern. Yesterday, prices reached a weekly high of $24,255. The asset is currently trading in a ‘Bullish Flag’ pattern. However, the bulls will face a significant challenge at $25,200 (previous high on August 15, 2022) and $28,500. (Horizontal trendline). We can expect another rally up to $32k if prices break and sustain above these resistances. If it continues to resist at these levels, we can expect some profit booking. The asset will be well supported by $21,500.

Ethereum
Ethereum was trading sideways between $1,050 and $1,300. The asset eventually broke above the range and began moving upwards by forming a ‘Higher High Higher Low’ pattern, rallying up to $1,714.6. The asset has a strong resistance zone ranging from $1,700 to $1,750 (Horizontal Trendline), and after reaching a high of $1,714, ETH formed a Doji candle with a longer upper shadow, indicating selling near the resistance. To continue rallying, ETH must break, close, and sustain above $1,750, where it has strong support around $1,500. (200 Day Moving Average).

Bitcoin price rose above $23,000 in early Wednesday Asian trading. Ether and the majority of the top ten non-stablecoin cryptocurrencies recovered from yesterday’s losses, buoyed by strong gains in US equities in January and optimism that the US economy is headed for a soft landing. Dogecoin led the pack, still benefiting from reports on Monday that long-time supporter and Twitter Inc. CEO Elon Musk is looking to bring payment systems to the social media platform.

Quick Facts

  • Bitcoin gained 1.3% to US$23,133 in the 24 hours to 8 a.m. in Hong Kong, bringing its seven-day gains to 2.2%. According to CoinMarketCap data, ether gained 1.2% to $1,586 and is up 1.9% for the week.
  • Dogecoin rose 8.7% to US$0.09, representing a 14.3% weekly increase. While the focus of Monday’s report was on adding fiat payments to Twitter, Musk left the door open for cryptocurrency to be added as well.
  • Cardano increased by 4.8% to $0.39, a gain of 8.7% in the last seven days. Polygon rose 2.1% to $1.11, for a weekly gain of 16.11%. Solana fell less than 0.1% to US$23.94, making it the only token to fall in the top 10, but it is still up 5.1% for the week.
  • The cryptocurrency market cap increased 1.4% to US$1.05 trillion, while total trading volume decreased 17.1% to US$47.26 billion.
  • On Tuesday, US equities rose. The Dow Jones Industrial Average gained 1.1%, the S&P 500 Index gained 1.5%, and the Nasdaq Composite Index gained 1.7% on the day.
  • The performance on Tuesday caps off a strong first month of 2023 for equity markets. The S&P 500 gained 6.2% in the last 31 days for its best January since 2019, while the Nasdaq gained 10.7% in the same period for its best January since 2001.
  • Markets rose on the back of strong earnings from Exxon Mobil Corp and Pfizer Inc., both of which reported record profits due to rising oil prices and the continued production of the Covid-19 vaccine.
  • The Federal Reserve of the United States sets interest rates on Wednesday at 2 p.m. Eastern Time. CME Group analysts predict the Fed will raise rates by 25 basis points, breaking a streak of 50 and 75 basis point increases since March of last year.
  • The Fed’s aggressive rate hikes last year appear to be having the desired effect on inflation control. The Employment Cost Index, released on Tuesday, added 1.0% last quarter, the smallest gain since the end of 2021. The consumer price index in the United States rose 6.5% year on year in December, well below the 7.1% increase in November and the largest monthly decline since April 2020.
  • This week brings earnings from technology leaders such as Apple Inc., Amazon.com Inc., and Alphabet Inc., the parent company of search engine Google. Non-farm payroll data, another key inflation indicator, will be released on Friday.

Bitcoin, Ether, and the top ten non-stablecoin cryptocurrencies all fell in early Asian trading on Tuesday, wiping out the majority of Monday’s gains. Cryptocurrencies fell alongside equity markets in the United States overnight, as traders appeared to be taking profits ahead of this week’s Federal Reserve meeting on rates and a slew of technology earnings. Solana was the leader of the losers. Dogecoin recovered some of its losses following reports that Twitter Inc. CEO Elon Musk is looking to add payment systems to the social media platform, and he is a known supporter of the token.

Quick Facts

Bitcoin fell 3.9% to US$22,836 in the 24 hours to 8 a.m. in Hong Kong, bringing its seven-day loss to 0.6%. According to CoinMarketCap data, ether fell 4.8% to $1,566 on Tuesday morning and is down 3.8% for the week.

Solana fell 8.1% to US$23.91, a 1.8% drop over the week after the token saw the biggest gains in CoinMarketCap’s top 10 list on Monday.

Cardano fell 6.3% to US$0.37, a 1% drop in seven days. Polygon fell 7.5% to $1.09, but was still up 9% since last Tuesday.

Dogecoin, the leading memecoin, fell 1.5% to US$0.08, bringing its weekly losses to 1%. The Financial Times reported on Monday that Musk, the world’s second-richest person, is considering adding payment systems to Twitter, which could include cryptocurrency. Musk has long been a supporter of Dogecoin.

Equities in the United States fell on Monday. The Dow Jones Industrial Average fell 0.8%, while the S&P 500 Index fell 1.3%. The Nasdaq Composite Index fell 2% for its worst trading day in five weeks.

The Fed meets on January 31 and February 1 and is expected to raise interest rates by 25 basis points, breaking a streak of 50 or 75 basis point hikes since last March in an attempt to slow the pace of inflation. The rate decision is scheduled for Wednesday.

Last year’s aggressive rate hikes by the Fed appear to have had the desired effect on inflation. The consumer price index in the United States rose 6.5% year on year in December, down from 7.1% in November and the largest monthly decline since April 2020.

Investors are also anticipating earnings reports from technology leaders such as Apple Inc., Amazon.com Inc., and Alphabet Inc., the parent company of search engine Google, this week. Non-farm payroll data, another key inflation indicator, will be released on Friday.

The global crypto market surpassed $1.08 trillion on a day of gains across the board for the overall market. Bitcoin (BTC) and Ethereum (ETH), two of the most popular crypto coins, both remained stable in the $23,000 and $1,600 ranges, respectively. Other popular altcoins, such as Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), also saw gains. With a 24-hour gain of more than 18 percent, the MINA token became the top gainer.

At the time of writing, the global crypto market cap was $1.08 trillion, representing a 1.82 percent 24-hour gain.

Bitcoin price today
According to CoinMarketCap, the price of bitcoin was $23,740.20, representing a 2.36 percent gain in a 24-hour period. According to the Indian exchange WazirX, the price of Bitcoin was Rs 20.13 lakhs.

Ethereum price today
At the time of writing, the price of ETH was $1,640.01, a 2.87 percent increase in 24 hours. According to WazirX, the current price of Ethereum in India is Rs 1.38 lakhs.

Dogecoin price today
DOGE gained 0.95 percent in a 24-hour period, according to CoinMarketCap data, and is currently trading at $0.08956. According to WazirX, the Dogecoin price in India is Rs 7.53.

Litecoin price today
Litecoin gained 0.33 percent in a 24-hour period. It was trading at $95.10 at the time of writing. In India, the price of LTC was Rs 8,000.

Ripple price today
The price of XRP was $0.4145, up 0.97 percent in 24 hours. According to WazirX, the current price of Ripple is Rs 34.82.

Solana price today
Solana was trading at $25.52, up 6.01 percent in 24 hours. According to WazirX, the SOL price in India was Rs 2,153.

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