Crypto Price Today: Bitcoin falls below $31,000 ahead of FOMC meeting minutes

economictimes.indiatimes.com:

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.

Did you Know?

SAP has launched a new enterprise on the Metaverse with the aim of accelerating cloud adoption among Indian firms. The interactive and immersive ‘cloud on wheels’ platform will enable customers to experience the full range of SAP’s offerings and reimagine processes for improved business outcomes.

The global cryptocurrency market cap was trading lower, around $1.21 trillion, falling 0.67% in the last 24 hours. The total volume in DeFi is currently $2.31 billion, 8% of the total crypto market 24-hour volume. The volume of all stablecoins is now $24.64 billion, which is 90% of the total crypto market 24-hour volume. The market cap of Bitcoin, the world's largest cryptocurrency, was around $598 billion. Bitcoin's dominance is currently 49.60%, an increase of 0.04% over the day, according to CoinMarketCap. «The presence of a bullish engulfing candle on the daily time frame indicates a strong