Crypto Price Today Live: Bitcoin above $24,500; Ethereum and Litecoin rise up to 5%

[ad_1]

New Delhi: Taking their winning streak for the second day in a row, cryptocurrency markets were trading higher in Tuesday’s trade. Bitcoin (BTC) rose 9.25% to $24,514 while Ethereum (ETH) was above the $1,650 level. BTC volume stood at around $48.26 billion, up 39.89% in the past 24 hours.

Meanwhile, the global cryptocurrency market capitalization was trading at around $1.08 trillion, up 5.11% in the past 24 hours.

“In the past 24 hours, Bitcoin has seen an increase of almost 10%, surpassing the USD 24,000 mark, following the announcement that US regulators have backed Silicon Valley Bank and Signature Bank. This news gave giving investors and traders hope that the banking sector’s recent near-collapse will prompt the Federal Reserve to ease monetary policy. As a result, BTC broke through a low and hit a two-week high,” said Edul Patel, co-founder and CEO of Mudrex.

Other top crypto tokens were also trading higher. Dogecoin, Solana, Polygon and Polkadot were trading up over 3%.

Total DeFi volume is currently 8.03 billion, or 8.83% of the total 24-hour crypto market volume. The volume of all stablecoins is now $86.66 billion, or 95.29% of the total 24-hour crypto market volume.

The market capitalization of Bitcoin, the largest cryptocurrency in the world, was around $473 billion. Bitcoin dominance is currently at 43.70%, an increase of 1.41% on the day, according to CoinMarketCap.

“The next major level for BTC to break is $25,300, of which $28,000 will be on the cards. BTC dominance jumped to over 43% today, indicating that investors are choosing BTC over altcoins to short term. Some volatility is expected this week as US CPI data arrives tomorrow,” said Vikram Subburaj, CEO of Giottos Crypto Platform. Rajagopal Menon, VP of WazirX, said, “The major oscillators in markets indicate neutral sentiment neutral outlook The Stochastic %K (14, 3, 3) indicates a neutral outlook at 81.95 and the Average Directional Index (14) at 22.36 indicates a buy.

“The MACD level (12, 26), at -88.41, indicates a buy, contrary to the previous day’s prediction. The fast stochastic RSI (3, 3, 14, 14) and the Williams percentage range (14) continue to be neutral at 93.02 and -5.03 respectively,” added Menon.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11:48 a.m., IST March 14, 2023)

Bitcoin $24,514 9.25%

Ethereum $1,682 4.92%

Tether $1 0.03%

BNB $307.69 1.15%

XRP $0.3712 0.58%

Cardano $0.3447 1.71%

Polygon $1.18 3.75%

Dogecoin $0.07285 3.13%

$20.45 3.90%

Peas $6.17 4.04%

$0.0671 -1.99%

Shiba Inu $0.00001111 2.38%

Litecoin $81.27 4.20%

(Note: price change in the last 24 hours)

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

[ad_2]