Crypto Price Today: Bitcoin holds above $34,200 ahead of Fed interest rate decision; Solana jumps 10%
Bitcoin was trading 0.18% lower at $34,278, while its largest peer, Ethereum, was trading at $1,797, up 0.44% at around 12.49 p.m.
Bitcoin is up 27% in October and looks to close the month above $34,000 with substantial gains. Based on 2019, the previous year before halving, November might encounter a brief pullback to keep the market healthy. $33,200 is the strong support level that Bitcoin must hold to surge ahead. Bitcoin dominance has experienced a minor decline this week as Solana, Polkadot and XRP register gains on the daily, said Vikram Subburaj, CEO of Giottus Crypto Platform.
Edul Patel, Co-Founder & CEO of Mudrex, said, «Bitcoin has been hovering at the $34,300 level over the past 24 hours as traders anticipate the US Federal Reserve's decision on interest rates scheduled for Wednesday. For Bitcoin to maintain its upward trajectory, it will need to overcome the $34,700 resistance, or it may risk seeking support near $34,000.»
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View Details»Meanwhile, the global cryptocurrency market cap surged 0.37% to around $1.27 trillion in the last 24 hours.
Other popular altcoins, including Solana and Chainlink, rose 9.9% and 5.13%, respectively. Also, XRP, Tron, Cardano, Toncoin, Polygon, Polkadot, and Litecoin traded higher.
The total volume in DeFi is currently $4.17 billion, 10.2% of the total crypto market 24-hour volume. The volume of all stablecoins is now $36.65 billion, which is 89.63% of the total
