The cryptocurrency market was trading in the red on Monday. Bitcoin (BTC) fell 0.65% to $30,069, while Ethereum was just above the $1850 level.

Meanwhile, BTC volumes in the last 24 hours stood at approximately $8.8 billion, rising 17.78% in the last 24 hours.

Bitcoin started the new week trading sideways above the US$30,000 level as the market continued to digest the latest nonfarm payroll report, Edul Patel, Co-founder and CEO at Mudrex, said.

“BTC has been trading between the levels of US$30,000 and US$31,400 since the past few days. This suggests both bulls and bears are active in the market and that bulls are continuing to defend the level aggressively,” Edul added.

The global cryptocurrency market cap was trading lower, around $1.17 trillion, falling 0.74% in the last 24 hours.The total volume in DeFi is currently 1.79 billion, 7.94% of the total crypto market 24-hour volume. The volume of all stablecoins is now $20.53 billion, which is 90.86% of the total crypto market 24-hour volume.

The market cap of Bitcoin, the world’s largest cryptocurrency, was around $584 billion. Bitcoin’s dominance is currently 49.98%, an increase of 0.11% over the day, according to CoinMarketCap.”Bitcoin has been trading within a range defined by the 20-day exponential moving average ($29,854) and the resistance level at $31,000. This consolidation indicates a sense of uncertainty among both bullish and bearish market participants regarding the next significant move. Buyers are likely to make another attempt to break above the resistance at $31,500,” said ZebPay Trade desk.

Rajagopal Menon, Vice President at WazirX, said, “Major market oscillators point toward a Neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 56, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 33 and 31, respectively, further indicating a Neutral market.

“The MACD Level (12, 26) at 619 indicates a Sell. The Stochastic RSI Fast (3, 3, 14, 14) is at 10 with a Neutral indicator, while the Williams Percent Range (14) at -72 signals Neutral,” Menon added.

Crypto Cart: Quick Glance (Source:, data as of 12.34 hours, IST on July 10, 2023)
Bitcoin $30,069 -0.65%
Ethereum $1,856 -0.55%
Tether $0.999 0.07%
BNB $233.2 -0.83%
XRP $0.4688 -0.14%
Cardano $0.2823 -1.51%
Dogecoin $0.06452 -1.87%
Solana $20.9 -3.69%
Polygon $0.6778 -0.80%
Litecoin $93.39 -3.80%
Polkadot $5.04 -1.60%
Tron $0.07725 -3.52%
Shiba Inu $0.000007565 -1.21%

(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)

Leave a Reply

Your email address will not be published. Required fields are marked *