Crypto Price Today Live: Bitcoin above $22K; Cardano, Dogecoin rise up to 8%

economictimes.indiatimes.com:

New Delhi: The cryptocurrency market was trading higher on Wednesday despite the latest CPI data suggesting inflation numbers have been higher in February so far than in January 2023. Bitcoin (BTC) rose 1.8% to $22,155 and BTC volume stood at approximately $26.97 billion, rising 17.89% in the last 24 hours. Ethereum (ETH) was above the $1,550 level. «Most cryptocurrencies rose in the past 24 hours following the release of the U.S Consumer Price Index (CPI) data for January where inflation fell less than anticipated. Bitcoin made a recovery from recent lows and is presently being traded above the US$22,000 level, with its next resistance level situated at US$22,260, and its support level at US$22,000. Nevertheless, despite the slight gains, the overall market momentum is marginally bearish,» Edul Patel, Co-founder and CEO of Mudrex said. Other top crypto tokens were also trading higher on Wednesday. Cardano rose 8% while Dogecoin, Polygon, Shiba Inu and Solana also logged gains.

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The global cryptocurrency market cap was trading higher around $1.03 trillion, rising 2.53% in the last 24 hours. The total volume of DeFi is currently $5.6 billion, 9.51% of the total crypto market 24-hour volume. The volume of all stablecoins is now $55.88 billion, which is 94.94% of the total crypto market 24-hour volume. The market cap of Bitcoin, the world's largest cryptocurrency, was around $427.36 billion, with a