BTC Below $28k; Investors Focus Inflation Data
By Laxmikant Khanvilkar
Leading virtual digital assets (VDAs) have turned lower Monday morning. The market participants are focusing the release of key inflation data as well as the start of third-quarter earnings season.
During Asian trades, price of Bitcoin (BTC), the world’s most valuable cryptocurrency, stayed below $28,000 mark. It is currently resting at around $27,820.86, down 0.57%.
Ethereum (ETH), the second largest crypto in market value, was quoting 0.71% lower at $1,626.02.
The global financial markets are likely to witness a renewed volatility due to the geopolitical situation in the middle-east. However, as per analysts, that could provide opportunities for some smaller protocols. Ripple’s XRP, the 5th-largest cryptocurrency, could be gearing up for a rally. LINK, is another token that can see some action in its price, analysts have said.
The global crypto market cap declined 0.53% to $1.09 tn, over the last 24-hours. On the other hand, the total crypto market volume rose 17.53% to $18.15 bn. The total volume in DeFi is currently $2.05 bn and all stablecoins $16.14 bn, representing 11.30% and 88.90% respectively, of the total crypto market 24-hour volume. Bitcoin’s dominance increased 0.02% to 49.93%.
IC15 index, the barometer of top fifteen tokens, lost 0.53% to 35,560.86.
Meanwhile, a whale transactions, which can trigger a domino effect on the market, was spotted on exchanges. As per on-chain data, a particular whale has woken up from a three-year slumber, moving their 5,000 BTC worth $137 million for the first time since 2020.
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