Crypto Price Today: Bitcoin trades near $40,000; Solana, Tron rise up to 3%
Dogecoin plunged about 2.4%, whereas Ethereum and BNB also dropped.
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At 11.44 a.m., Bitcoin was trading 0.35% higher at $39,953, while Ethereum was down 0.43% at $2,218.
BTC has started consolidating in a very narrow range of $39.5k to $40.5k following the recent dump below $40k. While this might indicate that bulls are not willing to step in at this price point, it might also be the case that taking Bitcoin’s price further down will not be easy for the bears as well, said CoinSwitch Markets Desk.
Given that $38.5k is the last line of support before the next big support at $32k, some consolidation is expected here, it said.
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View Details»The global cryptocurrency market cap rose 0.11% to around $1.55 trillion in the last 24 hours. However, the total trading volume declined more than 30% to $50.79 billion.
In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, surged to $784 billion. Bitcoin's dominance is currently 50.46%, according to CoinMarketCap. BTC volume in the last 24 hours declined 33% to $20.6 billion.
«BTC finds itself in a fierce tussle around the critical $40,000 level, as market dynamics showcase a battleground between bullish and bearish sentiments. On the positive front, buyers exhibit confidence in the long-term potential of recently introduced Bitcoin exchange-traded funds (ETFs). However, the bearish camp draws strength from the substantial $3.4 billion outflows witnessed by the Grayscale Bitcoin Trust,» ZebPay Trade desk
