Cryptocurrency Price Today: Shortly after the US Federal Reserve raised its interest rates, the cryptocurrency market continued its rally on Friday, July 29. Global crypto market cap on the day zoomed 3.90 percent to scale $1.10 trillion, according to data from CoinMarketCap. Gains made by Bitcoin, Ethereum Solana and other major cryptocurrencies in the past 24 hours pushed the global cryptocurrency market cap to the level it had lost earlier this year. The jump in the Fear & Greed index to its highest level since April of this year also fueled the gain.
Bitcoin closed in the green after crossing $24,000 on Thursday, holding the levels open on Friday. Later in the day, the price dropped slightly to hover around $23,900. Today’s Bitcoin price was $23,920.29 at the time of writing this article, up 4.37 percent in the past 24 hours.
Bitcoin closed in the green again after jumping 4 percent yesterday to rise above the $24,000 level following the FOMC’s recent decision to hike rates by an additional 75 basis points. Market sentiment also reacted favorably as the Fear & Greed index jumped to its highest point since early April this year Daily trend for BTC continues to move within a bearish channel pattern although it is an uptrend The next key resistance level for BTC is expected at $32,300 We could We see this upward trend continuing in the coming days,” said a spokesperson for the WazirX trading desk.
“Bitcoin has been in an uptrend with minor corrections for the past two weeks. BTC continued to rise, reaching the $24,000 level on Thursday and bouncing back to its consolidation point at $23,000. The bulls have pumped the price to the next critical resistance level at $25,000 which could be possible with a broad accumulation trend. If BTC fails to clear the USD 24,000 resistance zone today, we may see a downward correction. But from now on, looking at the price trend, BTC may continue to rise today,” said Edul Patel, CEO and co-founder of Mudrex.
Ethereum made a 14 percent gain on Thursday and the rally continued on Friday as well. Ether price rose 5.63 percent today at the time of writing the article to scale $1,708.47, its highest point in nearly two months.
“Ethereum made significant gains of 14 percent and 6 percent respectively in recent days, crossing the $1,700 level after nearly two months. Investors remain hopeful that Ethereum will stage a bullish rally ahead of the Proof-of-stake (PoS) transition. The daily trend for Ethereum has broken out of the pattern and is moving forward. The next major resistance for Ethereum is expected at the $4,400 level,” the WazirX spokesperson said.
Here are the top 10 cryptocurrencies and their prices as of July 29, 2022, Saturday, (according to data from coinmarketcap.com)
Bitcoin $23,920.29 or 4.37 percent gain in the last 24 hours
Ethereum $1,708.47 or 5.63 percent gain in the last 24 hours
Tether $1.00 or 0.00 percent gain in the last 24 hours
USD coin $0.9996 or 0.04 percent loss in the last 24 hours
BNB $277.14 or 3.51 percent gain in the last 24 hours
XRP $0.3704 or 4.93 percent gain in the last 24 hours
Cardano $0.5255 or 5.01 percent gain in the last 24 hours
Binance USD $1.00 or 0.18 percent gain in the last 24 hours
Solana $42.71 or 8.58 percent profit in the last 24 hours
Dogecoin $0.06961 or 4.63 percent gain in the last 24 hours
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