Crypto Price Today: Bitcoin holds near $42,000; Solana, Polygon shed up to 7%
BNB (0.8%), Avalanche (2%), and Polkadot (0.1%) were trading in the green, while Ethereum (-0.45%), XRP (-1.8%), Solana (-6.9%), Cardano (-0.6%), Polygon (-3.2%) and Dogecoin (-0.3%) were trading in the red.
However, the global cryptocurrency market cap surged by 0.44% to around $1.55 trillion in the last 24 hours.
At 11.30 a.m., BTC was trading 1% higher at $41,900. In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, surged to $819 billion.
«Speculation around an impending approval of Bitcoin spot ETF has fueled the asset into a 19-month high near $42,000. While BTC encounters strong resistance at this level, once breached, there is a clear path to $48,000 in the upcoming weeks,» said Vikram Subburaj, CEO of Giottus Crypto Platform.
Did you Know?
As a beginner to cryptocurrency investing, you should consider two critical things. First, you should determine and understand your risk tolerance, as cryptocurrencies can be volatile. Only invest what you can afford to lose. Secondly, don’t put all your funds in one cryptocurrency; diversify to mitigate risks. Deciding where to invest your hard-earned money can be difficult.
View Details»Meanwhile, Edul Patel, CEO of Mudrex, said, «Over the last 24 hours, Bitcoin breached the $42,000 threshold before consolidating around the $41,800 level. The price movement coincides with market expectations of the U.S. interest rates being cut after U.S. Federal Reserve Chair Jerome Powell stated that the present policy setting is “well into restrictive territory” last week. This may have caused investors to exhibit bullish behavior.»
The total volume in DeFi is currently $10.41 billion, 11.55% of the total crypto market 24-hour volume. The volume of all
