Bitcoin Trades Below $28000
By Kapil Rajyaguru
The past seven days saw the broader virtual currency market cool down a bit, with some of the previous week’s leaders also taking a breather. Namely, Ripple’s XRP was unable to sustain the major gains it posted seven days ago and is lost around 5% throughout this week. It could just be setting itself up for another leg up, though. Let’s dive in.
The total Virtual currency market cap is down about $15 billion in the past seven days, which is indicative of it cooling down. BTC was unable to conveniently pass above $28,000 and is still battling with that level, which seems quite important. Ether managed to stay above $1800 level.
Meanwhile, the U.S. jobs market continued to show signs of strength as the Bureau of Labor Statistics (BLS) reported the addition of 236,000 jobs in March versus economist forecasts for 239,000.
Alongside, the BLS reported the unemployment rate dipping to 3.5% from 3.6% in February and against expectations for 3.6%. February’s gain of 311,000 jobs was revised higher to 326,000.
The global crypto market cap is $1.18T, a 0.61% decrease over the last day. The total crypto market volume over the last 24 hours is $30.07B, which makes a 15.77% decrease. The total volume in DeFi is currently $2.82B, 9.39% of the total crypto market 24-hour volume. The volume of all stable coins is now $25.04B, which is 83.28% of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 45.87%, an increase of 0.06% over the day.
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