“Markets have remained in consolidation over the past week. Cryptocurrency Price 2023 Consolidation is generally considered to be a good sign as it allows the market to recover. The $18,850 support level in BTC and $21,000 resistance level would be closely tracked by market participants,” said Edul Patel, CEO and co founder of Mudrex.
Crypto market 2023 rebounded sharply on Tuesday as major crypto tokens were trading higher. However, the crypto Fear & Greed index remained wedged in the extreme fear territory. Analysts remain downcast about prices for at least the near term.
Barring the dollar-pegged USD Coin and Unus Sed Leo, all other crypto tokens 2022 were in the green on Tuesday. Bitcoin rallied about 6 per cent, whereas Ethereum surged 9 per cent. Shiba Inu was also up by 7 per cent.
The global cryptocurrency market cap was trading higher at the $909.69 billion mark, zooming more than 6 per cent in the last 24 hours. However, the total cryptocurrency trading volume jumped almost 38 per cent to $55.27 billion.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.00 hours, IST on July 05, 2022)
BITCOIN PRICE 2022/23
Bitcoin’s price gained 6.53 per cent to $20,342.88. Ethereum rose 10.25 per cent to $1,160.36.
“Even though this week saw a bearish start, Bitcoin 2022 and most cryptocurrencies gained a decent amount of growth on Monday benefiting from the US Independence Day holiday. The largest cryptocurrency is down by 44 per cent since the last Independence Day,” Edul Patel, Co-Founder and CEO, Mudrex.
“If bulls can keep the rise going, breaking above $21,000, we might see the next run towards $29,000,” Patel said.
XRP fell 0.25 per cent, Solana gained 9.87 per cent, Cardano rose 4.64 per cent, Stellar was up by 3.16 per cent, and Polkadot rose 0.86 per cent. Cryptocurrency Price 2023