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Top 10 cryptocurrencies were trading with mixed trends and were little changed at 9.30 hours IST. Bitcoin, Binance Coin and Polkadot were among the gainers, whereas Solana, Ethereum, XRP and Carndano lost a per cent each.
The global crypto market cap was almost flat, marginally up, to $1.92 trillion compared to the last day. Similarly, the total crypto market volume tanked about 12 per cent to $82.83 billion.
The past 24 hours remained highly volatile for the cryptocurrency market. Markets would remain volatile for the coming 24 hours, said Edul Patel, CEO and Co-founder of Mudrex.
Cryptocurrencies continue to flourish despite the regulatory tightening in China earlier this week, said CoinCX Research Team.
“While the downfall in September was an opportunity for tokens such as Avalanche (AVAX) and Solana (SOL) that surged 52% and 23%, respectively, the ever-changing market highlights the volatility of cryptocurrency and its continuous growth,” it added.
Come October 31, Bitcoin, the first digital cryptocurrency will turn 13. Cryptocurrency has come a long way since Satoshi Nakamoto, the pseudonymous author of Bitcoin white paper, created the virtual currency based on blockchain technology.
Crypto Cart: Quick Glance
Bitcoin: $43,625.94, up 0.41%
Ethereum: $3,009.87, down 0.74%
Tether: $1, down 0.01%
Cardano: $2.11, down 0.77%
Binance Coin: $385.87, up 1.44%
XRP: $0.9512, down 1.22%
Solana: $139.53, down 0.73%
USD Coin: $1, up 0.01%
Polkadot: $28.77, up 1.28%
Dogecoin: $0.2026, down 0.70%
(Source: coinmarketcap.com, data as of 09.30 hours, IST on October 01, 2021)
(Note: Price change in last 24 hours)
Tech View by ZebPay Trade Desk
Cryptocurrency market has lost about 60 per cent of the total market cap in the last week with the top two digital assets Bitcoin and Ethereum giving up significant gains from their all-time highs (ATH).
Market Cap Dominance
Total market cap: $1.41 trillion
Bitcoin: 46.2%
Ethereum: 17.2%
Technical Outlook :
Bitcoin charts have turned bearish post the recent current correction. However, there are signs of recovery with BTC cooling just close to the long-term bullish trendline and a fall back close above the $36,000 mark will confirm the end of the correction.
BTC might see a pull-back relief rally above $36,000 but should face resistance at $42,500. Bullish patterns evolve above the resistance levels of $42,500.
The analytics above suggest that Bitcoin has been looked at as the most preferred among digital assets in times of uncertainty.
In addition to the above, the falling open interest with a fall in prices is giving indication of a relief rally soon.
(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
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