Crypto Price Today: Bitcoin rises above $26,500; XRP, Tron jump up to 4%
Meanwhile, the global cryptocurrency market cap was trading higher, around $1.06 trillion, rising 1.5% in the last 24 hours.
«Bitcoin is currently trading at the $26,500 mark, and this shift in its price may be attributed to recent developments at the European Central Bank (ECB),» Edul Patel, CEO & Co-founder of Mudrex, said.
The ECB has signalled that their recent hike of 0.25% in three key interest rates could potentially mark the conclusion of the rate hikes in the current cycle. In order to sustain its upward momentum, Bitcoin will need to breach the resistance at $27,000, Edul added.
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View Details»Other top crypto tokens were also trading higher on Friday. XRP, Cardano, Solana, Tron, Polygon, Litecoin, and Shiba Inu gained 2-4%.
The total volume in DeFi is currently $1.79 billion, 6.7% of the total crypto market 24-hour volume. The volume of all stablecoins is now $24.55 billion, which is 92.05% of the total crypto market 24-hour volume.
Bitcoin's dominance is currently 49.06%, according to CoinMarketCap. Meanwhile, BTC volume stood at approximately $12.67 billion, falling 9.77% in the last 24 hours.
Tech view by Sathvik Vishwanath, Co-Founder & CEO, Unocoin
In the medium to long term, Bitcoin is trapped in a descending trend channel, reflecting a growing sense of pessimism among investors and indicating potential further declines.
Within this pattern, Bitcoin is oscillating within the confines of a rectangular
