Crypto Price Today: Bitcoin trades below $35,000, XRP jumps over 9%
XRP, BNB, Cardano, Dogecoin, Polygon, and Toncoin were trading in the green.
Meanwhile, the global cryptocurrency market cap declined 0.14% to around $1.32 trillion in the last 24 hours.
Bitcoin was down 0.6% at $34,915 as of 1:10 p.m., while Ethereum was below the $1,900 level. XRP surged over 9%.
Edul Patel, CEO of Mudrex, said, «Over the past 24 hours, Bitcoin has been hovering around the $35,000 mark. This fluctuation may be attributed to traders cashing in their Bitcoin profits and reallocating them into altcoins. Another potential factor could be the United States reporting a gain of 150,000 jobs in October, falling short of the 180,000 predicted by economists and a decline from September's 297,000 figure.»
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View Details»Meanwhile, in the last week major crypto tokens rallied on the back of the US Federal Reserve's rate pause. Bitcoin rose nearly 2%, while Ethereum surged 5%. XRP, Solana, and Cardano advanced over 17%.
The recent rally from last week crypto has boosted investor sentiment, as the crypto fear and greed index has jumped 4 points from yesterday to be within the greed zone with a score of 74/100. While the price momentum may look short-term, market analysts are seeing signs of sustainable demand driving the crypto uptrend, said Parth Chaturvedi, Investments Lead at CoinSwitch Ventures.
The total volume in DeFi is currently $4.31 billion, 11.28% of the total crypto market 24-hour volume. The
