Bitcoin Maintains $30K Mark While Ethereum Surge by 5% in the Last 24 Hours
On Thursday, most cryptocurrencies were trading higher following better-than-expected US economic data. Bitcoin (BTC) rose 0.66% to $30,244, with a trading volume of approximately $18.62 billion, an increase of 6.42% in the last 24 hours. According to Mudrex CEO Edul Patel, BTC is trading above the $30,000 level, indicating that the bulls have the upper hand in the market.
Ethereum and Solana Lead the Crypto Surge
Meanwhile, Ethereum (ETH) traded above the $1,900 level with a price change of 2.92%. In addition, Solana surged over 5% while Dogecoin, Cardano, Litecoin and Polkadot also traded with gains. The global cryptocurrency market cap rose 1.09% in the last 24 hours to around $1.23 trillion.
Bitcoin’s Dominance Decrease as Other Cryptocurrencies Gain Ground
Bitcoin had a market cap of approximately $582 billion, with a decrease in dominance by 0.25% during the day. According to Vikram Subburaj, CEO of Giottus Crypto Platform, BTC’s consolidation above $30,000 suggests a possible rally towards $32,000, subject to strong resistance.
According to Rajagopal Menon, Vice President at WazirX, the major market indicators suggest a neutral sentiment, with the Relative Strength Index at 69, indicating a neutral outlook. Additionally, the Stochastic %K indicates ‘sell’ at 86, and the ADI indicates a neutral outlook at 38.
Overall, the market sentiment remains positive, and investors are optimistic about the future of cryptocurrencies. The CPI cooling off may signal the end of the rate hike season, which is expected to bring new liquidity into the markets, according to Subburaj.
At the time of writing, these were the prices for the top cryptocurrencies:
- Bitcoin: $30,244 (+0.66%)
- Ethereum: $1,918 (+2.92%)
- Tether: $1.00 (-0.01%)
- BNB: $318 (+0.16%)
- XRP: $0.5072 (-0.1%)
- Cardano: $0.407 (+3.67%)
- Dogecoin: $0.0833 (+1.82%)
- Polygon: $1.11 (+2.23%)
- Solana: $23.98 (+5.05%)
- Polkadot: $6.42 (+2.59%)
- Shiba Inu: $0.00001093 (+1.13%)
- Litecoin: $92.55 (+0.77%)
- Tron: $0.06496 (+1.97%)
All price changes were in the last 24 hours.
