Edul Patel News

cryptocurrency markets were trading mixed on Tuesday. XRP, Solana, and Litecoin were trading with gains, while Bitcoin, Ethereum, and BNB were trading with cuts. Bitcoin (BTC) fell 0.71% to $27,805, whereas Ethereum (ETH) was just above the $1,900 level. BTC volume stood at approximately $12.73 billion, falling 20.53% in the last 24 hours. "Bitcoin price started a decent increase above the US$28,000 resistance zone on Monday. However, it has since declined by over 1% and is trading at the US$27,700 level. An upside break above US$28,000 might send the price toward BTC's next resistance at US$28,500. If BTC's price fails to clear the US$28,000 renaissance, it could continue to move downwards towards US$27,580," Edul Patel, Co-founder and CEO at Mudrex, said. The total volume in DeFi is currently $2.24 billion, 8.05% of the total crypto market 24-hour volume. The volume of all stablecoins is now $25.50 billion, which is 91.76% of the total crypto market 24-hour volume.

cryptocurrency markets were trading higher on Monday amid optimism over the US debt ceiling deal. Bitcoin (BTC) rose 2.55% to $27,927, while Ethereum (ETH) was above the $1,900 level. «Most cryptocurrencies traded in green over the weekend after markets reacted to the White House announcing that a deal to avert a debt ceiling crisis has been reached on one side and the release of higher-than-expected latest personal consumption data from the US on the other side,» Edul Patel, Co-founder and CEO at Mudrex, said. «Currently, Bitcoin is seen trading above the US$28,000 level gaining over 3% in the past 24 hours and erasing its weekly losses. If BTC can clear the US$28,500 resistance zone, it might continue higher soon,» Edul added. The total volume in DeFi stood at 2.30 billion, 6.83% of the total crypto market 24-hour volume. The volume of all stablecoins is now $30.6 billion, which is 91.07% of the total crypto market 24-hour volume.

cryptocurrency markets were trading in the red on Thursday amid concerns over US debt ceiling talks as a critical deadline nears without an agreement. Bitcoin (BTC) fell 1.88% to $26,241, whereas Ethereum (ETH) was below the $1,800 level. BTC volume in the last 24 hours stood at approximately $16.19 billion, rising 30.23% in the last 24 hours. «Most cryptocurrencies traded in red as investors worried over rising concerns over the U.K. inflation on one side and the U.S. debt ceiling stalemate developments on the other. The release of the most recent FOMC minutes later in the day, showing U.S. central bankers divided on a continuation of interest rate hikes, did little to boost market confidence,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower on Thursday. Litecoin declined nearly 4%. Cardano, BNB, Polkadot and Shiba Inu were also trading lower. The total volume in DeFi is currently 2.45 billion, 6.88% of the total crypto market 24-hour volume. The volume of all stablecoins is now $33.26 billion, which is 93.22% of the total crypto market 24-hour volume.

cryptocurrency markets were trading in the red on Friday. Bitcoin (BTC) fell 1.13% to $26,908, whereas Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $14.9 billion, falling 0.58% in the last 24 hours. «Bitcoin experienced a reversal, dropping to the US$26,700 level after reaching US$27,400 the previous day. The decline can be attributed to investor concerns surrounding ongoing debt ceiling talks in Washington, D.C., and regulatory developments,» Edul Patel, Co-founder and CEO at Mudrex said. Other top crypto tokens were also trading lower. Solana and Cardano declined nearly 2%. Ethereum, BNB, Polkadot and Litecoin were also trading lower. The total volume in DeFi is currently 2.02 billion, 6.40% of the total crypto market 24-hour volume. The volume of all stablecoins is now $29.18 billion, which is 92.43% of the total crypto market 24-hour volume.

cryptocurrency markets were trading mixed on Wednesday on weak global cues amid debt ceiling negotiations in the US. XRP, Dogecoin, and Litecoin were trading with gains, while Bitcoin, Ethereum, and BNB were trading with cuts. Bitcoin (BTC) fell 1.39% to $26,851, whereas Ethereum (ETH) was just above the $1,800 level. BTC volume in the last 24 hours stood at approximately $12.14 billion, falling 2.93% in the last 24 hours. «Bitcoin traded flat in the past 24 hours as investors might be closely monitoring the attention on the debt ceiling negotiations in Washington. BTC has been seen changing hands between US$26,800 and US$27,400 levels,» Edul Patel, Co-founder and CEO at Mudrex, said. The total volume in DeFi is currently 2.11 billion, 7.45% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $25.79 billion, which is 91.17% of the total crypto market 24-hour volume.

cryptocurrency markets were trading higher on Monday amid encouraging macro factors and under-control inflation. Bitcoin (BTC) rose 1.82% to $27,335, whereas Ethereum (ETH) was above the $1,800 level. BTC volume stood at approximately $11.9 billion, rising 25.5% in the last 24 hours. «Bitcoin recovered a bit, gaining over 1% in the past 24 hours after experiencing a downward trend the last week due to industry-focused and macroeconomic uncertainties. BTC’s immediate resistance is at US$27,400 and then US$27,800 which might start a decent increase. Whereas the support lies at US$27,000,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher on Monday. Litecoin Surged by over 7%. BNB, Polygon, Dogecoin and Solana were also trading with gains.

cryptocurrency markets were trading in the red on Monday after a better-than-expected April US jobs data. Bitcoin (BTC) fell 2.81% to $28,171, whereas Ethereum (ETH) was below the $1,900 level. BTC volume in the last 24 hours stood at approximately $13.28 billion, falling 11.59% in the last 24 hours. «After the US Job growth remained strong in April, Bitcoin rose to US$29,800 on Saturday. However, Bitcoin and Ethereum fell in the past 24 hours following Binance halting Bitcoin withdrawals for the second time in a day, citing large volumes,» Edul Patel, Co-founder and CEO at Mudrex, said. The global cryptocurrency market cap was trading higher around $1.16 trillion, falling 2.53% in the last 24 hours. The total volume in DeFi is currently 2.82 billion, 8.45% of the total crypto market 24-hour volume. The volume of all stablecoins is now $29.28 billion, which is 87.74% of the total crypto market 24-hour volume.

cryptocurrency markets were trading higher in Thursday's trade after the US Fed raised its benchmark lending rate by 25 bps again to cool inflation. Bitcoin (BTC) rose 2.44% to $29,152, whereas Ethereum (ETH) was above the $1,900 level. BTC volume in the last 24 hours stood at approximately $19.5 billion, rising 20.54% in the last 24 hours. «Following the Federal Reserve's decision to raise interest rates by 25 basis points, Bitcoin is regaining its strength. The Fed indicated that this week's increase could be the last for the time being. At present, Bitcoin is being traded at the US$29,000 level and is gradually approaching its resistance levels of US$29,420 and US$30,000,» Edul Patel, Co-founder and CEO at Mudrex, said. “As the upcoming US employment figures are scheduled to be released on Friday, investors and traders are keeping a watchful eye on them,” Edul added. The global cryptocurrency market cap was trading higher around $1.20 trillion, rising 2% in the last 24 hours.

cryptocurrency markets were trading higher in Wednesday's trade. Bitcoin (BTC) rose 1.96% to $28,526, whereas Ethereum (ETH) was above the $1,850 level. BTC volume in the last 24 hours stood at approximately $16.17 billion, rising 1.78% in the last 24 hours. “Bitcoin rose nearly 2% in the past 24 hours following the Job Openings and Labor Turnover Survey (JOLTS) data. The data showed that job openings in the US declined to 9.6 million in March, below expectations of 9.775 million and their lowest since April 2021,” Edul Patel, Co-founder and CEO at Mudrex, said. «Additionally, investors and traders may be making early moves in anticipation of the US Federal Reserve's decision on interest rate hikes. Similarly, Ethereum traded at the US$1,850 level and made movements following BTC,» Edul added. The global cryptocurrency market cap was trading higher around $1.17 trillion, rising 1% in the last 24 hours.

cryptocurrency markets were trading in the red on Tuesday ahead of the FOMC meeting on Wednesday. Bitcoin (BTC) fell 2.04% to $28,056, whereas Ethereum (ETH) was below the $1,850 level. BTC volume in the last 24 hours stood at approximately $15.74 billion, falling 13.55% in the last 24 hours. «Bitcoin started the new week trading in the red, as markets prepare for an important week of the U.S economic events. Currently, BTC is being traded at the US$28,000 level, having reached a weekend high of US$29,900. Investors are closely monitoring the Federal Reserve's announcement regarding interest rate hikes on Wednesday,» Edul Patel, Co-founder and CEO at Mudrex, said. The global cryptocurrency market cap was trading higher around $1.16 trillion, rising 1.51% in the last 24 hours. The total volume in DeFi is currently 2.50 billion, 7.18% of the total crypto market 24-hour volume. The volume of all stablecoins is now $32.31 billion, which is 92.87% of the total crypto market 24-hour volume.

cryptocurrency markets were majorly trading higher on Thursday. Bitcoin (BTC) rose 2.31% to $29,035, whereas Ethereum (ETH) was just below the $1,900 level. BTC volume in the last 24 hours stood at approximately $35.15 billion, rising 84.70% in the last 24 hours. «Concerns about First Republic Bank continued, causing Bitcoin to rise to the US$29,000 range. Bitcoin had surged from a low of US$27,217 the day before, reaching a week-long high and recovering any losses incurred during that time. The support level for Bitcoin is currently US$28,000, with resistance at US$29,400,» Edul Patel, Co-founder and CEO at Mudrex, said. The global cryptocurrency market cap was trading higher around $1.20 trillion, rising 1.18% in the last 24 hours. The total volume in DeFi is currently 5.20 billion, 7.33% of the total crypto market 24-hour volume. The volume of all stablecoins is now $64.06 billion, which is 90.27% of the total crypto market 24-hour volume.

«Bitcoin continued to consolidate below the US$28,000 as investors eagerly await for the Federal Open Market Committee's meeting next week. BTC's current support level is situated around US$27,100, while its resistance level is at US$27,650. If the price drops below the support level, it could potentially plummet towards the US$26,500 level,» Edul Patel, Co-founder and CEO at Mudrex, said.Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, said, «ETH is down around 1.9% and is trading in the $1.8k range for the last 24 hours. However, last week's Ethereum Shanghai upgrade saw a remarkable influx of 571,950 ETH deposits, worth over $1 billion, for staking. This has been the largest weekly token inflow for ETH ever. This surge was largely attributed to institutional staking service providers and investors who reinvested their rewards following withdrawal.» Other top crypto tokens were also trading lower on Tuesday. BNB, XRP, Cardano, Dogecoin, Polygon and Polkadot declined up to 3%. The global cryptocurrency market cap was trading lower around $1.15 trillion, falling 1% in the last 24 hours.

«Bitcoin dropped for the second consecutive session, as the price fell to the level of US$28,100 due to an increase in selling pressure. As a result, the gains made by Bitcoin in the past seven days were erased. Despite this setback, there is still strong support at the US$26,500 mark, which was the low point in late March,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower on Thursday. Dogecoin declined by over 8%. Meanwhile, BNB, XRP, Cardano, Polygon and Polkadot also traded with cuts. The global cryptocurrency market cap was trading lower around $1.19 trillion, falling 2.49% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $542 billion. BTC volume stood at approximately $20.41 billion, falling 20.86% in the last 24 hours. Bitcoin’s dominance is currently 45.81%, a decrease of 0.20% over the day, according to CoinMarketCap.

UK CPI data for March came higher than expected. Bitcoin (BTC) fell 3.64% to $29,020, whereas Ethereum (ETH) declined 5.60% and was below the $2,000 level. «Bitcoin fell below the US$29,000 level in the past 24 hours following the release of higher-than-expected U.K inflation figures, which showed a rise of 10.1% in the 12-month period. This sent BTC to its lowest point since April 10. The next major support now lies at the US$28,500 level,» Edul Patel, Co-founder and CEO at Mudrex, said. «As is typical with unexpected events, the market reacted, causing investors to move away from riskier assets. It may take some time for investors and traders to evaluate the potential impact of the inflation data and recover from the event,» Edul added. Other top crypto tokens were also trading lower. Litecoin declined nearly 10%. Meanwhile, BNB, XRP, Polygon and Polkadot traded with cuts. The global cryptocurrency market cap was trading lower around $1.22 trillion, falling 3.92% in the last 24 hours.

cryptocurrency markets were trading mixed on Wednesday. Bitcoin, XRP and Dogecoin were trading with gains, while Ethereum, BNB and Solana were trading with cuts. Bitcoin (BTC) rose 1.48% to $30,136, whereas Ethereum (ETH) was below the $2,100 level. BTC volume in the last 24 hours stood at approximately $19.04 billion, rising 11.46% in the last 24 hours. «Over the past 24 hours, Bitcoin has bounced back to the US$30,000 level, recuperating from earlier losses. Investors seem to have renewed their interest in assets that hold value, despite fading concerns about the banking industry. To continue its upward trend, BTC will need to overcome its next resistance level at US$30,500, while its support level is at US$29,800,» Edul Patel, Co-founder and CEO at Mudrex, said. The total volume in DeFi is currently 4.14 billion, 9.13% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $41 billion, which is 90.4% of the total crypto market 24-hour volume.

cryptocurrency markets were trading mixed on Monday. Bitcoin, XRP and Cardano were trading with cuts, while BNB, Solana and Litecoin saw gains. Bitcoin (BTC) fell 1.12% to $29,996, whereas Ethereum (ETH) was above the $2,100 level. BTC volume in the last 24 hours stood at approximately $14.78 billion — rising 29.22% in the last 24 hours. «Over the weekend, Bitcoin maintained its consolidation around the US$30,000 level after reaching a peak of US$31,005 on Friday — its highest point since June 2022. In contrast, Ethereum, the second-largest cryptocurrency, achieved a new 11-month high of US$2,141 over the weekend, driving fresh enthusiasm among investors following the successful Shanghai upgrade,» Edul Patel, Co-founder and CEO at Mudrex, said. ETH is currently trading at US$2,101, which represents a 134% increase since its lowest cycle in June 2022. The market as a whole appears to be bullish, Edul added.

cryptocurrency markets were trading higher on Friday with an increase of over 4% in the crypto market cap in the last 24 hours. Bitcoin (BTC) rose 2.30% to $30,786, whereas Ethereum (ETH) surged 10.5%, and was above the $2,100 level. «Rising by over 10% in the past 24 hours, ETH is trading in the $2.1k zone despite some fearing a massive dump after the Shapella upgrade. BTC is also on the rise to chase the $31k mark. The crypto fear and greed index have jumped 7 points to regain the scoring for 68, hinting towards increasing investor confidence,» Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, said. Other top crypto tokens were also trading higher on Friday. Dogecoin jumped nearly 9%. Meanwhile, BNB, XRP, Litecoin, Solana and Cardano also traded with gains. The global cryptocurrency market cap was trading higher around $1.28 trillion, rising 4.25% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $595 billion. Bitcoin’s dominance is currently 46.30%, a decrease of 0.95% over the day, according to CoinMarketCap.

«Most cryptocurrencies rose slightly in the past 24 hours after mildly encouraging inflation data on one side and Ethereum Shanghai upgrades on the other. Bitcoin was seen trading above the US$30,000 level, with its resistance set at US$30,500. This shows that the bulls currently have the upper hand in the market. However, the support of BTC lies at the US$29,900 level,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading higher. Solana surged over 5%. Meanwhile, Polkadot, Litecoin, Dogecoin and Cardano also traded with gains. The global cryptocurrency market cap was trading higher around $1.23 trillion, rising 1.09% in the last 24 hours. The market cap of Bitcoin, the world's largest cryptocurrency, was around $582 billion. Bitcoin’s dominance is currently 47.25%, a decrease of 0.25% over the day, according to CoinMarketCap.

«Most cryptocurrencies witnessed a slight decline ahead of the US CPI data for March, which is set to be released today. Bitcoin was seen consolidating at the US$29,930 level after attempting a fresh increase and spiked above the US$30,450 resistance zone yesterday. The next support of BTC is near the US$29,400 level, and resistance is at US$30,250,» Edul Patel, Co-founder and CEO at Mudrex, said. «On the other hand, the whole crypto industry is looking forward to the long-awaited Shanghai upgrade which is set to go live today, allowing phased staking withdrawals,» Patel added. Other top crypto tokens were also trading lower. Tron declined nearly 5%. Meanwhile, BNB, XRP, Litecoin, Dogecoin and Cardano also traded with cuts. The global cryptocurrency market cap was trading lower around $1.22 trillion, falling 1.22% in the last 24 hours.

cryptocurrency markets were trading higher on Tuesday with an increase of over 4% in the crypto market cap in the last 24 hours. Bitcoin (BTC) rose 6.47% to $30,106, whereas Ethereum (ETH) was above the $1,900 level. BTC volume stood at approximately $23.35 billion, rising 87.02% in the last 24 hours. «Bitcoin has reached a level above US$30,000, which it last saw in June of last year. This rise can be attributed to investor optimism towards this week's U.S inflation data, which could potentially impact the Federal Reserve's monetary policy trajectory,» Edul Patel, Co-founder and CEO at Mudrex, said. «BTC has increased by 6% and is now facing fresh resistance at the US$30,500 level. In the event that BTC fails to overcome this resistance, the next support level would be at US$29,200,» Edul added. Other top crypto tokens were also trading higher. Solana jumped nearly 10%. BNB, XRP, Litecoin and Cardano also traded with gains. The global cryptocurrency market cap was trading higher around $1.23 trillion, rising 4.17% in the last 24 hours.

cryptocurrency markets were trading higher on Monday. Bitcoin (BTC) rose 1.37% to $28,300, whereas Ethereum (ETH) was above the $1,850 level. BTC volume in the last 24 hours stood at approximately $12.43 billion, rising 30.14% in the last 24 hours. «Most cryptocurrencies rose over the weekend as markets reacted to the non-farm payrolls report, which showed that 236,000 jobs were added to the U.S. economy last month. Bitcoin was back above the US$28,000 level,» Edul Patel, Co-founder and CEO at Mudrex, said. «BTC's support now lies at US$27,900, while the resistance lies at US$29,200. On the other hand, Ethereum is attempting to move towards the US$1,900 level and is currently trading flat at the US$1,850 level ahead of the Shanghai update scheduled for April 12th,» Edul added. Other top crypto tokens were also trading higher. BNB, Dogecoin, Solana and Shiba Inu rose up to 2%. The global cryptocurrency market cap was trading higher around $1.18 trillion, rising 0.85% in the last 24 hours.