The cryptocurrency markets were trading mixed on Wednesday. Bitcoin, XRP and Dogecoin were trading with gains, while Ethereum, BNB and Solana were trading with cuts.

Bitcoin (BTC) rose 1.48% to $30,136, whereas Ethereum (ETH) was below the $2,100 level. BTC volume in the last 24 hours stood at approximately $19.04 billion, rising 11.46% in the last 24 hours.

“Over the past 24 hours, Bitcoin has bounced back to the US$30,000 level, recuperating from earlier losses. Investors seem to have renewed their interest in assets that hold value, despite fading concerns about the banking industry. To continue its upward trend, BTC will need to overcome its next resistance level at US$30,500, while its support level is at US$29,800,” Edul Patel, Co-founder and CEO at Mudrex, said.

The total volume in DeFi is currently 4.14 billion, 9.13% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $41 billion, which is 90.4% of the total crypto market 24-hour volume.

The global cryptocurrency market cap was trading lower around $1.27 trillion, rising 0.36% in the last 24 hours.

The market cap of Bitcoin, the world’s largest cryptocurrency, was around $582 billion. Bitcoin’s dominance is currently 45.93%, an increase of 0.51% over the day, according to CoinMarketCap.

“After witnessing a minor downward trend, BTC rebounded above the critical $30,000 mark as the positive sentiment around Defi continues to grow. The current rally in the crypto market is driven by macro factors and its momentum depends on the favourable factors surrounding the financial markets,” Shivam Thakral, CEO of BuyUcoin, said.Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said, “Bitcoin remained in a narrow range of $30,200 to $30,500, but rose to $30,500 during the US trading session, turning its previous support at $30,200 into a resistance level. A continued downtrend could see BTC fall to $29,189 if it breaks below the $29,700 level.”

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.28 hours, IST on April 19, 2023)

Bitcoin $30,136 1.48%

Ethereum $2,073 -1.62%

Tether $1.00 -0.03%

BNB $336 -2.75%

XRP $0.5242 1.61%

Cardano $0.4351 -2.10%

Dogecoin $0.09253 -0.62%

Polygon $1.16 -0.83%

Solana $24.33 -2.96%

Polkadot $6.80 -0.18%

Shiba Inu $0.00001148 -0.74%

Litecoin $100.7 -1.22%

Tron $0.06661 0.68%

(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)

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