Crypto Price Today: Bitcoin surges above $26,400 ahead of Fed's gathering at Jackson Hole; Cardano, Solana rise over 3%
Meanwhile, the global cryptocurrency market cap was trading higher, around $1.07 trillion, up 1.55% in the last 24 hours.
Bitcoin (BTC) rose 1.62% to $26,475, whereas its largest peer, Ethereum, surged nearly 2% and regained the $1,650 level. Meanwhile, BTC volume in the last 24 hours stood at approximately $16.09 billion, rising 1.76% in the last 24 hours.
«For the market to turn bullish again, a breach of $28,400 resistance by Bitcoin is necessary in the coming weeks. Markets await US Fed Chair Powell’s speech at an annual conference this Friday to determine its direction with clarity on macro-economic trends,» Vikram Subburaj, CEO, Giottus Crypto Platform, said.
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View Details»The market cap of bitcoin, the world's largest cryptocurrency, was around $515 billion. Bitcoin's dominance is currently 48.36%, an increase of 0.07% over the day, according to CoinMarketCap.
Bitcoin has been trading above the $26000 level. This could be indicative of the market awaiting a decision on the Bitcoin-ETF in the US, Edul Patel, CEO and co-founder of Mudrex said.
Ethereum continues to trade above the $1600 mark. Altcoins like Stellar and Hedera saw more than 5% growth in the last 24 hours. This renewed interest in altcoins and AI-related cryptocurrencies could be because of AI and computer-chip giant Nvidia reporting Q2 revenue of $13.51 billion versus consensus estimates of $11.19 billion, Edul said.
Tech view by Zebpay Trade Desk
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