Crypto Price Today: Bitcoin trades near $42,800; Avalanche, Tron fall up to 3%
cryptocurrency markets were trading lower on Tuesday after cooler-than-expected US inflation data boosted bets of interest rate cuts by the Federal Reserve next year.
Meanwhile, the global cryptocurrency market cap declined 1.12% to around $1.65 trillion in the last 24 hours.
At 11:48 a.m., BTC was trading 1.15% lower at $42,774, while Ethereum was down 2.2% at $2,234.
«Bitcoin is trading at the $43,000 mark, having recently tested the $42,600 zone where bullish activity was evident. A breach beyond the $43,600 level could propel BTC towards $44,300 and support now lies at the $42,600 level,» said Edul Patel, CEO of Mudrex.
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View Details»CoinSwitch Markets Desk, said, «After making its 18-month high on December 8, BTC has continuously been consolidating in a rather tight range with both bulls and bears now waiting dormant for a breakout on either ends. While bears were hoping for a Christmas correction, no such major move was to be seen as BTC continues to honour the uptrend it has been maintaining for the whole of 2023.»
Altcoins, such as Solana and XRP rose 1% and 0.9%, respectively. However, BNB, Cardano, Avalanche, Polkadot, Tron, and Shiba Inu declined by 1-3%.
Solana has attracted significant investments over the past week due to its continued growth in the DeFi and NFT ecosystem, Edul said.
Vikram Subburaj, CEO of Giottus Crypto Platform, said, Solana’s impressive rally has extended with the token targeting $120 – a level not seen since April 2022. SOL, driven by a thriving ecosystem, is now the 4th largest crypto asset by
