“Bitcoin’s price consolidated above the US$26,600 level in the past 24 hours. BTC even spiked above the US$27,000 forming a high near the US$27,184 and the price is now correcting gains. However, there is a back of bullish momentum and currently, BTC is trading at the US$26,900 level,” Edul Patel, Co-founder and CEO at Mudrex, said.
BTC’s current resistance now lies at the US$27,200 and support at the US$26,700 level, Edul added.
The global cryptocurrency market cap was trading around $1.07 trillion, rising 0.62% in the last 24 hours.
The total volume in DeFi is currently $1.73 billion, 6% of the total crypto market 24-hour volume. The volume of all stablecoins is now $26.96 billion, which is 94% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $520 billion. Bitcoin’s dominance stood at 48%, an increase of 0.32% over the day, according to CoinMarketCap.
“Bitcoin continues to be resilient near $27,000 while altcoins bleed against it. BTC dominance is closing in on 50% post which it can quickly climb towards 55% in the coming weeks. $28,600 is the next key level for Bitcoin to pass to mark a local bottom while a sweep of a lower target ($24,400) remains possible to flush out the longs,” Vikram Subburaj, CEO of Giottus Crypto Platform, said.
Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said, “Bitcoin rebounded from a three-month low to reach a weekly high of $26,675.93. A break of the resistance level at $26,800 and a break above the RSI ceiling of 50.00 could push BTC/USD towards $27,300.”
“Trading above $1,700, Ethereum also saw an uptick, hitting an intraday high of $1,746.51 and holding a weekly high around $1,769,” Sathvik said.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.00 hours, IST on June 20, 2023)
Bitcoin $26,796 1.33%
Ethereum $1,727 0.10%
Tether $0.9998 -0.02%
BNB $241 -0.78%
XRP $0.4866 -1.39%
Cardano $0.2593 -1.17%
Dogecoin $0.06212 0.08%
Polygon $0.6091 1.33%
Solana $16 3.39%
Litecoin $77.01 -0.66%
Polkadot $4.49 -1.48%
Tron $0.06933 -1.02%
Avalanche $11.46 0.88%
Shiba Inu $0.000007185 0.21%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
