Bitcoin Hovers Near $28K
By Laxmikant Khanvilkar
Global cryptocurrencies witnessed selling pressure as traders have increased bearish bets since the expiry of options worth billions of dollars last week.
Analysts have pointed out the coinciding of the fall in price of Bitcoin, the world’s largest cryptocurrency by market value, with the settlement of Derbit’s quarterly contracts. The cumulative volume delta, or CVD, in the Deribit-based perpetual futures market fell sharply into the negative before the settlement time.
This gloominess build over the last weekend continues to weigh on investor sentiment.
Bitcoin price slipped 1% to $28,115 while Ethereum was at $1,790.
The global cryptocurrency market cap has decreased by 1.27% to $1.17 tn, over the last 24 hours. Total market volume has risen 2.97% to $31.81 bn, which includes $3.66 bn (11.50%) in decentralised (DeFi) and $27.47 bn (86.35%) in stablecoins. Bitcoin’s market dominance has increase 0.01% to 46.40%.
Bitcoin. Ethereum and other cryptocurrencies prices have stalled following the resurgence of the U.S. banking shares. With the Fed meeting in the near distance, crypto punters seems unwilling to take chance.
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