Bitcoin, Ethereum Stable Near Key Support
By Laxmikant Khanvilkar
Leading cryptocurrencies are depicting signs of stress movement in the past 24 hours after being on the run since the beginning of 2023. Bitcoin, the most popular cryptocurrency, has topped $21,300 level. It has recovered entire losses following the FTX implosion.
Since Monday, bitcoin has largely held steady above $21,000, well above its Nov. 2 price of $20,283.
Ethereum was most recently trading near $1,600 mark.
All other coins are firmly placed while managing to latch onto their recent gains.
Well, the cues are mixed from equities. The worse-than-expected quarterly results from Goldman Sachs weighed on the markets. The Dow eased, while the S&P 500 and Nasdaq are little changed.
The global crypto market capitalization has decreased by 0.44% to $988.76 bn in the last 24 hours. Trading volume has declined by 10.98% to $48.16 bn, with decentralized finance (DeFi) contributing 8.13% and stablecoins making up 91.19%. Bitcoin’s dominance has also increased by 0.08% to 41.27%.
Analyst are hoping to see some action on Aptos (APT), STEPN (GMT), Gala (GALA), Curve DAO (CRV), Flow (FLOW), and Shiba Inu (SHIB) due to underlying developments.
Remember, “Whale” investors – those who hold minimum 1,000 BTCs, are not moving their positions onto exchanges as they often do during dramatic price surges.
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