crypto price today: Crypto Price Today: Bitcoin Holds $17,500; Litecoin, Dogecoin and BNB lose up to 5%

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New Delhi: The crypto market erased its first gains on Thursday after the Federal Open Market Committee raised its benchmark rate by 50 basis points and signaled that it may raise rates for a longer period.

US Central Bank President Jerome Powell tempered investors’ mood by reminding that the Fed was not done with its monetary policy even after lowering its last interest rate hike.

Bitcoin was above the $17,500 level after a long consolidation, while Ethereum fell more than 2% to slip below the $1,300 mark.

With the exception of a few altcoins, all major crypto tokens were trading in the red. Litecoin plunged 5%, while BNB and Dogecoin fell 4% each. Solana and Tron gained 2% each.

The global cryptocurrency market capitalization traded at around $861.21 billion, slipping more than one percent in the past 24 hours. Total trading volume fell about 13% to $46.29 billion.

What’s cooking in IndiaThe Indian government received a total of Rs 60.46 crore in the form of withholding tax (TDS) on trading crypto assets, according to a statement from the Ministry of Foreign Affairs. Finances submitted to the Rajya Sabha.

Indians have lost interest in trading on local crypto exchanges since the government started imposing taxes on profits and transactions, data from AppTweak and SimilarWeb shows. Global Updates Binance chief executive Changpeng ‘CZ’ Zhao has warned his staff to expect turbulent times as the giant crypto exchange sees a flurry of crypto outflows amid concerns over its financial health.

The past year in the digital asset market has been characterized by a series of negative shocks, initially triggered by the collapse of Terra/LUNA, Citi said in a research report looking back on the year.

US Senators Elizabeth Warren and Roger Marshall are introducing a bill to combat money laundering and the financing of terrorists and rogue nations via cryptocurrency.

Crypto industry calls for US regulation as epic FTX failure drags on industry. Most regulators say they can’t get the job done without more powers from Congress.

Giottos Crypto Platform Solana’s Tech View (SOL) was trading at $14, down 61% from last month, when it plunged sharply amid the FTX explosion, dropping from $38 to $13 virtually overnight. on the next day. Since then, it has traded in a narrow range – forming what could be a bearish flag. Full confirmation of this pattern should come once the $10 SOL low is broken, which can lead to much deeper lows.

Despite breaking out of a resistance trendline and rallying 7% yesterday, the SOL has now broken from the $14.95 level – a strong resistance level that has caused rejection more than 6 times during the month last.

ETMarkets.com

Yesterday’s rejection indicates that the downtrend may continue. Luckily, the bulls may have reason to rejoice as several support levels remain lower, such as $14, $13.4, and $12.8. Its 50- and 200-day moving averages are also well above its current price (at $19 and $31, respectively), indicating that SOL may be oversold and reverting to the mean.

Given macro market conditions, on the upside unless resistance at $17.5 is claimed with a daily close, it may be prudent to take a wait-and-see approach, the expert suggested. Major Levels Resistance: $14.95, $17.5

Support: $14, $13.4, $12.8

(The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in any assets mentioned.)

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