Crypto Prices Mixed Today, Bitcoin Holds Above $30,600

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Crypto Prices Mixed Today, Bitcoin Holds Above $30,600

Crypto prices were mixed on Wednesday, with Bitcoin holding above $30,600 and Ethereum rising slightly. Other altcoins were also mixed, with Polkadot and Polygon rising over 3%.

Bitcoin (BTC) was trading at $30,634 at the time of writing, up 0.3% in the last 24 hours. Ethereum (ETH) was trading at $1,912, up 0.5%.

Other altcoins that were up in the last 24 hours included Polkadot (DOT), up 3.3%, and Polygon (MATIC), up 3.2%.

The overall cryptocurrency market capitalization was at $1.21 trillion, up 1.10% in the last 24 hours.

“Crypto prices are holding steady today,” said Edul Patel, co-founder and CEO of Mudrex. “Bitcoin is consolidating above $30,600, and Ethereum is inching towards $1,900. Altcoins are also mixed, with some of the larger altcoins like Polkadot and Polygon leading the gains.”

  • Bitcoin has been consolidating above $30,600 for the past few days, indicating that bulls are in control. However, the market is still volatile, and a break below $30,000 could trigger a sell-off.
  • Ethereum is inching towards $1,900, and a break above this level could lead to a further rally. However, the market is still facing headwinds from the broader sell-off in risk assets.
  • Altcoins are mixed, with some of the larger altcoins like Polkadot and Polygon leading the gains. However, the overall market is still facing headwinds, and altcoins could continue to underperform Bitcoin in the near term.

Here are some of the factors that could impact the crypto market in the near future:

  • US inflation data: The US inflation data due to be released later this week could have a significant impact on the crypto market. If inflation data comes in higher than expected, it could lead to a sell-off in risk assets, including cryptocurrencies.
  • Fed meeting minutes: The minutes from the latest Fed meeting due to be released later this week could also have a significant impact on the crypto market. If the minutes suggest that the Fed is considering a more aggressive tightening of monetary policy, it could lead to a sell-off in risk assets, including cryptocurrencies.
  • Bitcoin halving: The Bitcoin halving is due to take place in 2024, and this could have a significant impact on the crypto market. The halving will reduce the supply of Bitcoin, which could lead to a rally in prices.

 

ethereum: Bitcoin, Ethereum fall to record low amid crypto winter - The  Economic Times

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