![Bitcoin Resilient, Top Altcoins Register Growth](http://media.assettype.com/outlookbusiness%2Fimport%2Foutlookmoney%2Fpublic%2Fuploads%2Farticle%2Fgallery%2F9719aad648586fc3defe3db5fa4a4513.jpg?w=480&auto=format%2Ccompress&fit=max)
The global crypto market cap remains at $1.43T, a minor increase of 0.6 per cent in the 24 hours, ending at 9am IST. The total crypto trading volume saw an increase of 6 per cent from the previous day, pointing to renewed buyer’s confidence in the broader market.
Continuing its rally from the previous day, Bitcoin (BTC) witnessed a reversal of fortunes at the start of the day, almost touching $36,000 before facing a rejection and closing at $34,400 with a 0.8 percent decline. BTC once again failed to close above the resistance level of $35,000 as sellers started to step in early morning today. However, it continues to be resilient, as it evades support levels of $32,600 and $30,270. Buyer’s confidence is reflected in the 1.4 per cent increase in BTC daily trading volume in the last 24 hours. Bitcoin’s market share is currently 45.0 per cent.
Ethereum (ETH) jumped above the $2,300 mark for the first time since mid-June. It ended the day with a 2.5 per cent gain to close at $2,260. As EIP-1559 blockchain update approaches, ETH is expected to gain momentum further, after recording huge capital outflows last month.
Uniswap (UNI) led growth among top altcoins with a 4 per cent gain, followed by modest gains from Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC) and Ripple (XRP). Internet Computer (ICP) registered a 5 per cent decline.
BTC is expected to gain momentum in the upcoming week if the trading volume continues to grow and it steers clear of the support levels.
Top gainers for today:
Top losers for today:
Analysis includes top 100 coins only as of 9am IST
Source: CoinMarketCap
Crypto News at a Glance
DISCLAIMER: Views expressed are the writer's own, and Outlook Money does not necessarily subscribe to them. Outlook Money shall not be responsible for any damage caused to any person/organisation directly or indirectly.