Crypto Price Today: Bitcoin falls below $27,500; Ethereum holds above $1600
BNB, XRP, Polygon, and Tron were trading in the red, while Cardano, Toncoin, Litecoin, and Solana were trading in the green.
Meanwhile, the global cryptocurrency market cap declined 0.44% to around $1.08 trillion in the last 24 hours.
Bitcoin was down 0.6% at $27,484 as of 12:15 p.m., while Ethereum was below the $1,650 level.
In the last 24 hours, the crypto market has traded sideways with slight selling pressure. The crypto fear and greed index is up 2 points since yesterday and currently stands at the middle of the scale with a score of 50/100, said Parth Chaturvedi, Investments Lead, CoinSwitch Ventures.
«In an important development, yesterday's trial against SBF has sparked a new media wave, wherein Gary Wang, the former chief technology officer and co-founder of FTX admitted to committing multiple forms of fraud.
The market is closely watching for developments around the same. This, however, is likely to have a muted impact on how the markets will perform,» said Parth.
The total volume in DeFi is currently $2.44 billion, 9.63% of the total crypto market 24-hour volume.
The volume of all stablecoins is now $23.56 billion, which is 92.87% of the total crypto market 24-hour volume.
Bitcoin's dominance is currently 49.64%, according to CoinMarketCap. Meanwhile, BTC volume stood at approximately $11.6 billion, rising 10.7% in the last 24 hours.
«Bitcoin trading as BTC/USD finds itself at a decisive moment at $27,279, showing decisive movement over the past 24 hours.
The pivot point stands at this level with immediate resistance at $27,873 and further hurdles at $28,460 and an impressive $29,997. Conversely, selling pressure could lead Bitcoin to seek support at $26,798, followed by $26,414 and $25,982,» Sathvik
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