Cryptocurrency Price on April 1: Bitcoin holds above $70,000; Dogecoin, Toncoin climb up to 4%
Cryptocurrency markets were trading marginally higher in Monday's trade after a moderation in a key U.S. inflation reading heightened hopes of a Federal Reserve rate cut in June.
The latest U.S. inflation data was «along the lines of what we would like to see,» Federal Reserve Chair Jerome Powell said, keeping alive hopes that the central bank will start cutting interest rates in June.
At 11.06 a.m., Bitcoin was trading 0.1% higher at $70,293, while Ethereum was down 0.2% at $3,580. At the same time, other altcoins such as Solana (1.7%), XRP (1.8%), Dogecoin (4.7%), Toncoin (3.2%), and Bitcoin Cash (15.8%) surged.
Meanwhile, the global cryptocurrency market cap surged 0.48% to around $2.67 trillion in the last 24 hours.
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View Details»“Bitcoin (BTC) remains stable around the $70,000 threshold, with hopeful investors anticipating a potential breakout in the near future. However, a significant resistance level persists at $72,500," said Rajagopal Menon, Vice President, WazirX.
Shivam Thakral, CEO of BuyUcoin, said, «Since last week, Bitcoin has been trying
