Edul Patel News

cryptocurrency markets were majorly trading higher on Wednesday. Bitcoin (BTC) rose 0.22% to $29,212, whereas Ethereum (ETH) was just above the 1,850 level. BTC volume stood at approximately $10.78 billion, falling 26.09% in the last 24 hours. «Bitcoin's value remained below the US$29,500 threshold as investors eagerly awaited the U.S. Federal Reserve's decision, scheduled for later today. Although BTC experienced a dip to a one-month low at the beginning of the week, it has been gradually rebounding,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens, XRP, BNB, Dogecoin, and Solana were also trading higher. Meanwhile, the global cryptocurrency market cap was trading higher, around $1.18 trillion, rising 0.40% in the last 24 hours.

cryptocurrency markets were majorly trading higher on Thursday after the US Federal Reserve stuck to script with a 25 basis-point rate hike. The Fed as anticipated lifted its benchmark lending rate to a range between 5.25% and 5.5%, with Chair Jerome Powell saying during a press conference that the central bank would let data determine whether to hike again. Bitcoin (BTC) surged 0.67% to $29,429, whereas Ethereum (ETH) was above the 1,850 level. BTC volume in the last 24 hours stood at approximately $12.96 billion, rising 20.32% in the last 24 hours. «After the US Federal Reserve raised its interest rates by 25 basis points, as expected by the market, there was a mild uptick in most cryptocurrencies. Bitcoin, which had previously dipped to a low of US$29,097 on Tuesday, has now shown signs of recovery, surpassing the US$29,400 level,» Edul Patel, Co-founder and CEO at Mudrex, said.

cryptocurrency markets were trading in the red on Monday as the FOMC interest rate decision looms over crypto markets this week. Bitcoin (BTC) declined 0.42% to $29,793, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $10 billion, rising 22.28% in the last 24 hours. «Bitcoin continues to trade below the $30000 mark at around $29780. The price of Bitcoin did not rise about $30000 over the weekend. This recent price decline could be because of the US SEC chair expressing disappointment with the defeat over XRP’s case and increasing selling pressure,» Edul Patel, Co-founder and CEO at Mudrex, said. «There could be little volatility this week as FOMC’s decision on interest-rate policy is due on Wednesday,» Edul added.

cryptocurrency markets were trading mixed in Friday's trade. Bitcoin, Ethereum, XRP, and Cardano were trading with cuts, while BNB, Dogecoin, and Polkadot were trading with gains. Bitcoin (BTC) fell 1.1% to $29,820, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $15.1 billion, rising 31.47% in the last 24 hours. The global cryptocurrency market cap was trading lower, around $1.2 trillion, falling 0.91% in the last 24 hours. «Bitcoin continued to trade below the US$30,000 mark for another consecutive day, influenced by various factors such as investors taking profits and the strengthening of the US dollar,» Edul Patel, Co-founder and CEO at Mudrex, said.

cryptocurrency market was trading in the red on Monday. Bitcoin (BTC) fell 0.65% to $30,069, while Ethereum was just above the $1850 level. Meanwhile, BTC volumes in the last 24 hours stood at approximately $8.8 billion, rising 17.78% in the last 24 hours. Bitcoin started the new week trading sideways above the US$30,000 level as the market continued to digest the latest nonfarm payroll report, Edul Patel, Co-founder and CEO at Mudrex, said. «BTC has been trading between the levels of US$30,000 and US$31,400 since the past few days. This suggests both bulls and bears are active in the market and that bulls are continuing to defend the level aggressively,» Edul added.

cryptocurrency markets were majorly trading in the red on Wednesday ahead of the FOMC meeting minutes. Bitcoin (BTC) fell 0.61% to $30,800, whereas Ethereum (ETH) was below the $1,950 level. BTC volume stood at approximately $10.9 billion, falling 32% in the last 24 hours. «Bitcoin, after surpassing the US$31,000 mark yesterday, is currently consolidating around the US$30,800 level as investors eagerly anticipate the release of the FOMC minutes today,» Edul Patel, Co-founder, and CEO at Mudrex, said. «Presently, neither the bulls nor the bears have a clear upper hand as Bitcoin trades within the middle range between the support and resistance levels. If the price closes above the US$31,000 zone in the coming days, there is a possibility of Bitcoin climbing above the US$32,000 mark in the near future,» Edul added.

cryptocurrency markets were majorly trading in the red in Thursday's trade amid rising concerns of further policy tightening by the US Federal Reserve. Bitcoin (BTC) declined 0.57% to $30,631, whereas Ethereum (ETH) was just above the $1,900 level. BTC volume stood at approximately $12.97 billion, rising 18% in the last 24 hours. «After the release of the FOMC minutes, Bitcoin saw a decline in its value. However, positive remarks from the CEO of BlackRock prevented further losses, and the cryptocurrency remained stable,» Edul Patel, Co-founder and CEO at Mudrex, said. Meanwhile, CoinDCX Research Team stated, «Bitcoin is holding above the $30,500 levels after the market is awaiting a decision from the Securities and Exchange Commission (SEC) on refiling for the spot Bitcoin exchange-traded fund (ETF).»

cryptocurrency markets were majorly trading higher in Monday's trade. Bitcoin (BTC) rose 0.65% to $30,688, whereas Ethereum (ETH) was above the $1,900 level. BTC volume stood at approximately $10.92 billion, rising 26.43% in the last 24 hours. «Bitcoin began the new week trading above the US$30,700 mark but struggled to surpass the US$31,000 level, indicating a lack of urgency among bulls to secure profits at this time,» Edul Patel, Co-founder, and CEO at Mudrex, said. «The price has remained relatively stagnant between US$31,431 and US$29,500 for a while now. If BTC manages to break through the US$31,000 threshold, there is potential for an upward trend; otherwise, support is currently situated at US$29,500,» Edul added.

cryptocurrency markets were majorly trading higher in Monday's trade. Bitcoin (BTC) rose 0.65% to $30,688, whereas Ethereum (ETH) was above the $1,900 level. BTC volume stood at approximately $10.92 billion, rising 26.43% in the last 24 hours. «Bitcoin began the new week trading above the US$30,700 mark but struggled to surpass the US$31,000 level, indicating a lack of urgency among bulls to secure profits at this time,» Edul Patel, Co-founder, and CEO at Mudrex, said. «The price has remained relatively stagnant between US$31,431 and US$29,500 for a while now. If BTC manages to break through the US$31,000 threshold, there is potential for an upward trend; otherwise, support is currently situated at US$29,500,» Edul added.

cryptocurrency markets were trading higher in Friday's trade amid robust economic data from the US, which eased fears of a slowdown, and amid news that Fidelity Investments has refiled for spot Bitcoin ETF. Bitcoin (BTC) surged 1% to $30,657, whereas Ethereum (ETH) was above the $1,850 level. BTC volume stood at approximately $17.3 billion, rising 28.5% in the last 24 hours. «Bitcoin traded over the US$30,600 level gaining nearly 2% in the past 24 hours as the market reacted to Fidelity Investments refiles for spot Bitcoin ETF. Market sentiment was also influenced by the news of Microstrategy buying an additional $374 million worth of Bitcoin,» Edul Patel, Co-founder and CEO at Mudrex, said. BTC's immediate resistance is at the US$30,750 level, and support is at the US$30,420 level, Edul added.

cryptocurrency markets were trading mixed in Wednesday's trade. Bitcoin, XRP, and Polkadot were trading with gains, while BNB, Polygon, and Solana were trading with cuts. Bitcoin (BTC) rose 0.02% to $30,405, whereas Ethereum (ETH) was below the $1,900 level. BTC volume stood at approximately $16.68 billion, rising 9% in the last 24 hours. «Most cryptocurrencies traded flat with minimal fluctuations, fueled by the positive sentiment surrounding the possibility of a Bitcoin ETF and encouraging economic indicators from the US Bitcoin, in particular, maintained its position above the US$30,000 threshold for the fifth consecutive day,» Edul Patel, Co-founder, and CEO at Mudrex, said. «The bears seem to be active near the US$31,000 zone. BTC currently faces immediate resistance at the US$30,680 and US$30,950 levels, while the support level rests at US$30,000,» Edul added.

cryptocurrency markets were majorly trading in the red on Monday. Bitcoin (BTC) fell 2% to $30,221, whereas Ethereum (ETH) was below the $1,900 level. BTC volume stood at approximately $13.19 billion, rising 5.23% in the last 24 hours. «Bitcoin soared to a one-year high, surpassing the US$31,000 mark on Friday. However, it has since entered a consolidation phase, stabilizing around the US$30,000 level within the past 24 hours,» Edul Patel, Co-founder, and CEO at Mudrex, said. «With a notable increase of over 14% in the last seven days, Bitcoin has garnered positive investor sentiment. The key challenge for Bitcoin is to maintain its position above the crucial US$30,000 level, which could potentially trigger further upward movement. BTC's support level is currently set at US$29,500,» Edul added. Other top crypto tokens were also trading in the red. Cardano, Litecoin, and Polygon declined over 3% each. The global cryptocurrency market cap was trading lower, around $1.18 trillion, falling 2% in the last 24 hours.

cryptocurrency markets rose for the third straight day on Thursday, helped by BlackRock's plan to create a bitcoin exchange-traded fund (ETF) even as the sector faces US regulatory scrutiny. BlackRock, the world's biggest asset manager, filed for the exchange last week which would allow investors to get stakes in the asset class. Bitcoin (BTC) surged 5% to $30,326, whereas Ethereum (ETH) was above the $1,900 level. BTC volume stood at approximately $31.48 billion, rising 25% in the last 24 hours. «Bitcoin hovered above the US$30,000 level gaining 5% over the previous day as investors continued to cherish the news of multiple spot Bitcoin ETF filings,» Edul Patel, Co-Founder & CEO of Mudrex said.

cryptocurrency markets were majorly trading higher on Wednesday. Bitcoin (BTC) surged 8% to $28,840, whereas Ethereum (ETH) was above the $1,800 level. «The crypto market has seen a remarkable surge in trading activity over the past 24 hours, with a total volume of $43.95 billion, representing an impressive 59% increase. Bitcoin has crossed the $28,000 mark due to growing interest from institutions,» Shivam Thakral, CEO of BuyUcoin, said. Other top crypto tokens were also trading higher on Wednesday. Cardano and Litecoin rose up to 9%. Meanwhile, Polygon, Solana, and Polkadot also traded with gains. The global cryptocurrency market cap was trading higher around $1.13 trillion, rising 6% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $559 billion. Bitcoin’s dominance is currently 49%, an increase of 0.83% over the day, according to CoinMarketCap. BTC volume stood at approximately $25.85 billion, rising 75% in the last 24 hours.

cryptocurrency markets were trading mixed in Tuesday's trade. Bitcoin, Solana, and Polygon were trading with gains, while BNB, XRP, and Cardano were trading with cuts. Bitcoin (BTC) rose 1% to $26,796, whereas Ethereum (ETH) was above the $1,700 level. BTC volume stood at approximately $14.7 billion, rising nearly 57% in the last 24 hours. «Bitcoin’s price consolidated above the US$26,600 level in the past 24 hours. BTC even spiked above the US$27,000 forming a high near the US$27,184 and the price is now correcting gains. However, there is a back of bullish momentum and currently, BTC is trading at the US$26,900 level,» Edul Patel, Co-founder and CEO at Mudrex, said. BTC’s current resistance now lies at the US$27,200 and support at the US$26,700 level, Edul added.

Edul Patel, CEO and Co-founder of Mudrex, a global crypto investing platform. The concept of index investing has long been a favored strategy in traditional markets, such as stocks and mutual funds. However, as the world of cryptocurrencies continues to evolve, a new wave of investors is gravitating towards a similar approach within the crypto realm. Crypto index investing, although relatively nascent, has quickly gained traction among both retail and institutional investors. This investment strategy involves building a diversified portfolio of cryptocurrencies based on predetermined criteria, such as market capitalization or trading volume.What are the benefits of crypto index investing? Diversification: By investing in a crypto index fund, investors can gain exposure to a diversified portfolio of cryptocurrencies, which can help to reduce risk and volatility when compared to investing in one single crypto. This diversification strategy helps cushion against market downturns and minimizes the risk associated with investing in a single cryptocurrency. Additionally, by spreading investments across various cryptocurrencies, investors can potentially tap into the overall growth of the crypto market.

cryptocurrency markets were trading in the red on Thursday after the US Federal Reserve left rates unchanged as anticipated but hinted at the possibility of more hikes later this year. Bitcoin (BTC) fell 3.7% to $24,918, whereas Ethereum (ETH) was below the $1,650 level. BTC volume stood at approximately $15.28 billion, rising 17.54% in the last 24 hours. «Bitcoin experienced a drop to $24,990, marking its first time hitting this level since March. This decline came in the midst of a turbulent week, triggered by a hawkish announcement from the Federal Reserve,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower. XRP and Litecoin fell by over 6%. Meanwhile, BNB, Dogecoin, Polygon and Polkadot traded with cuts.

cryptocurrency markets were majorly trading higher on Tuesday ahead of key US inflation data later on the day and a two-day Fed monetary policy meeting on Wednesday. Bitcoin (BTC) surged 0.91% to $26,100, whereas Ethereum (ETH) was above the $1,750 level. BTC volume stood at approximately $11.59 billion, rising 0.26% in the last 24 hours. “Most cryptocurrencies rose in the past 24 hours ahead of the release of CPI data for May which is scheduled for today,” Edul Patel, Co-founder and CEO at Mudrex, said. «Bitcoin traded at the US$26,000 level over the weekend following the low at US$25,675. BTC sees bulls attempt to break the resistance of US$26,300 level. However, currently the market sentiment remains largely bearish,» Edul added.

cryptocurrency markets were trading higher on Wednesday. Bitcoin (BTC) surged 5% to $26,936, whereas Ethereum (ETH) was above the $1,850 level. BTC volume stood at approximately $23.77 billion, rising 17% in the last 24 hours. «Crypto markets have showcased resilience by trading in the green over the last 24 hours. The crypto fear and greed index has also regained its position in the neutral zone by climbing 9 points since yesterday. This could be attributed to a strong resilience shown by the industry, despite the SEC serving a lawsuit to Coinbase, similar to Binance from the day before,» said Shubham Hudda, Senior Manager at CoinSwitch Markets Desk. Other top crypto tokens were also trading higher on Wednesday. Dogecoin and Litecoin rose by over 4%. Meanwhile, BNB, XRP, Solana and Polkadot also traded with gains. The global cryptocurrency market cap was trading lower around $1.13 trillion, rising 3.14% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $522 billion. Bitcoin’s dominance is currently 46.38%, an increase of 0.61% over the day, according to CoinMarketCap.

cryptocurrency markets were trading higher on Friday ahead of US unemployment and non-farm payroll data. Bitcoin (BTC) rose 1.03% to $27,099, whereas Ethereum (ETH) was just below the $1,900 level. BTC volume stood at approximately $14.58 billion, falling 3.55% in the last 24 hours. «Bitcoin traded close to the US$27,000 level as the market awaits the release of the US non-farm payroll data today. The immediate support level for BTC is now at US$26,500, while resistance is at US$27,200,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. Litecoin and Tron surged by over 2%. Meanwhile, BNB, XRP, Cardano, Polygon and Polkadot also traded with gains. The global cryptocurrency market cap was trading higher around $1.14 trillion, rising 1.17% in the last 24 hours.

cryptocurrency markets were trading in the red in Wednesday's trade. Bitcoin (BTC) fell 2.44% to $27,154, whereas Ethereum (ETH) was below the $1,900 level. BTC volume stood at approximately $15.30 billion, rising 20.54% in the last 24 hours. «On Tuesday, Bitcoin reached the $28,000 mark but has since experienced a minor decline as investors kept an eye on developments regarding the debt ceiling deal. They also awaited a crucial House vote on the debt limit deal, which is scheduled for today,» Edul Patel, Co-founder and CEO at Mudrex said. «The price of BTC began a corrective downward movement after failing to surpass the resistance zone at $28,500. Presently, the immediate resistance on the upside lies around the $27,850 level, while support is found at $27,500,» Edul added. The total volume in DeFi is currently $2.62 billion, 7.68% of the total crypto market 24-hour volume. The volume of all stablecoins is now $31.64 billion, which is 92.6% of the total crypto market 24-hour volume.