Crypto Price Today: Bitcoin rises above $43,000; Ethereum, Chainlink surge up to 13%
cryptocurrency markets were trading higher on Thursday as the US dollar and bond yields hit multi-month lows on mounting bets the Federal Reserve will start cutting interest rates as soon as next March.
In Thursday's trade, the global cryptocurrency market cap surged 2.52% to around $1.69 trillion in the last 24 hours.
At 12:46 p.m., BTC was trading 1.44% higher at $43,055, while Ethereum was up 6.9% at $2,379.
BTC bounced back from the 20 EMA D and is holding above that, signalling a positive trend. Additionally, BTC dominance continues to decline, which is favourable for altcoins. BTC needs to clear the key resistance at $44,500 for further upward movement, said CoinDCX Research Team.
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View Details»Other popular altcoins, such as BNB, Cardano, and Chainlink gained 9-13%. On the other hand, Solana, Avalanche, Polkadot, Polygon, and Toncoin declined by up to 6%.
The total volume in DeFi is currently $8.64 billion, 10.63% of the total crypto market 24-hour volume. The volume of all stablecoins is now $71.94 billion, which is 88.52% of the total crypto market 24-hour volume.
Bitcoin's dominance is currently 49.93%, according to CoinMarketCap. BTC volume in the last 24 hours fell 6.53% to $25.89 billion.
«Optimism prevails among market participants, particularly with MicroStrategy's addition of more Bitcoin to its holdings on Wednesday. BTC faces immediate resistance at the US$43,700 level, while support is evident at the US$43,300 level,» said Edul Patel, CEO of Mudrex.
Tech View by Sathvik Vishwanath, Co-Founder & CEO, Unocoin
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