Crypto Market Dips Marginally Along With Trading Volume; Bitcoin, Ethereum Down

Bitcoin was down by 1.92 percent, while Ethereum was down by 0.33 percent. Bitcoin BTC was the top trending, while Stacks STX was the top gainer and Flare FLR was the top loser.
Crypto Market Dips Marginally Along With Trading Volume; Bitcoin, Ethereum Down

The global crypto market dips marginally on Thursday. The total market cap was down by 1.29 per cent to $2.13 trillion, even as the total trading volume was down by 10.91 per cent to $59.14 billion. Bitcoin BTC was the most trending, it was down by 1.92 percent to $57,975.95. Its 24-hour trading volume was $24.79 billion. Stacks STX was the top gainer. It was up by 8.02 per cent. Its 24-hour trading volume was $138.43 million. Flare FLR was the top loser. It was down by 8.42 per cent. Its 24-hour trading volume was $12.38 million.

DeFi was down by 0.67 percent to $3.41 billion, Coinmarketcap.com reported.

Also Read: Binance Reassures Indian Users Of Crypto Accounts' Safety Amid Cryptocurrency Exchange Ban

Rajagopal Menon, VP, WazirX said, "Bitcoin is trading near $57,500, having touched $58,500 earlier today. Key to its recovery is the $58,000 level, which represents Bitcoin's 200-day EMA. A sustained close above this level on higher timeframes could propel BTC towards $63,000. Recent attempts to break a month-and-a-half downtrend near $59,000 were met with resistance, causing a pullback to around $58,000."

He further mentioned, "Technical indicators indicate a potential slowdown as the hourly MACD loses momentum in the bullish zone. However, the hourly RSI for BTC/USD remains above 50, indicating bullish sentiment. Crucial support levels are $57,200 and $56,000, offering protection against downturns. On the upside, Bitcoin faces resistance at $58,400 and $59,500, pivotal for further upward movement."

He added, "BONK Coin, trading at $0.00002546 with a 2.05% decrease, recently reclaimed support at $0.0000182 and maintained a base around $0.0000248. A potential test towards $0.0000291 is anticipated, particularly if Bitcoin climbs above $60,000, potentially pushing BONK towards $0.0000441 and setting new highs above $0.0000291."

At last, "MATIC Coin saw a 0.5% increase, trading at $0.5071, despite Bitcoin's decline. After a 66% loss over 114 days, MATIC initiated a recovery on July 5, aiming to reclaim support at $0.546 and targeting $0.68, with the potential to rekindle interest in targets above $1.

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.92 per cent to $57,975.95. Its 24-hour Binance Reassures Indian Users Of Crypto Accounts' Safety Amid Cryptocurrency Exchange Bantrading volume was $24.77 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.6 per cent.

Ethereum: Ethereum ETH was down by 0.33 percent to $3,096.99 from the previous day. Its 24-hour trading volume was $13.62 billion. Ethereum’s market dominance was 17.4 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.02 per cent. Its 24-hour trading volume was $45.83 billion. It is ranked third on Coinmarketcap.

Also Read: Crypto Fear & Greed Index Reaches the Lowest Since 2023 Crypto Winter

Other Altcoins

Solana SOL was down by 2.01 per cent to $141.25. Its 24-hour trading volume was $1.71 billion.

Avalanche AVAX was trading at $25.62, down by 5.58 per cent. Its 24-hour trading volume was $236.3 million.

Cardano ADA was up by 1.99 percent to $0.3921 from the previous day. Its 24-hour trading volume was $256.47 million.

Meme Coins

Shiba Inu SHIB was down by 1.32 per cent, with a 24-hour price of $0.00001648.

Dogecoin DOGE was also down by 1.37 per cent to $0.1083.

Decentralised Finance

DeFi coin was trading at $0.03638, up by 0.68 per cent.

Yearn.Finance YFI was down by 1.06 per cent to $5,790.86 in the last 24 hours. Its 24-hour trading volume was $12.29 million.

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