22.5 C
New York
Sunday, June 23, 2024

Today’s Crypto Market Update: Bitcoin Surges Past $30,700 Mark, Ethereum and Cardano Experience Upward Spikes of Up to 11%”

In the last 24 hours, the cryptocurrency markets have shown a significant upward trend, with a more than 4% increase in the crypto market cap. Bitcoin (BTC) has risen by 2.30% and is currently trading at $30,786, while Ethereum (ETH) has surged by 10.5% and has crossed the $2,100 level.

Despite concerns about a significant sell-off after the Shapella upgrade, ETH has risen by over 10% in the past day and is currently trading in the $2.1k zone. BTC is also on an upward trajectory and is approaching the $31k mark. According to Parth Chaturvedi, Crypto Ecosystem Lead at CoinSwitch, the crypto fear and greed index has increased by 7 points and now stands at 68, indicating growing investor confidence in the market.

Many of the leading crypto tokens exhibited an upward trend. Dogecoin saw a surge of almost 9%, while other tokens such as BNB, XRP, Litecoin, Solana, and Cardano also traded with gains. The global cryptocurrency market cap experienced a 4.25% increase in the last 24 hours, reaching approximately $1.28 trillion.

The market cap of Bitcoin, the largest cryptocurrency in the world, stands at around $595 billion. According to CoinMarketCap, Bitcoin’s dominance in the crypto market is currently at 46.30%, representing a decline of 0.95% over the day.

In the last 24 hours, Bitcoin has surged above the US$30,800 level, with crypto markets reacting to the latest US inflation report. Edul Patel, Co-founder and CEO at Mudrex stated that BTC has support at the US$30,400 level and resistance at the US$30,800 level. Meanwhile, Vice President Rajagopal Menon at WazirX has analyzed various market oscillators, indicating a neutral sentiment. The Stochastic RSI Fast (3, 3, 14, 14) and William’s Percentage suggest “Sell” at 86 and -9, respectively, while the MACD Level (12, 26) indicates “Buy.”

Here is a glance at the current crypto market as of 10:54 hours IST on April 14, 2023 (Source coinmarketcap.com)

  • Bitcoin: $30,780, up 2.34%
  • Ethereum: $2,117, up 10.52%
  • Tether: $1.00, up 0.01%
  • BNB: $334, up 4.82%
  • XRP: $0.5247, up 3.79%
  • Cardano: $0.4414, up 8.49%
  • Dogecoin: $0.09086, up 9.12%
  • Polygon: $1.18, up 6.97%
  • Solana: $25.32, up 5.60%
  • Polkadot: $6.79, up 5.81%
  • Shiba Inu: $0.00001139, up 4.18%
  • Litecoin: $98.24, up 6.28%
  • Tron: $0.0665, up 2.31%

Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.