Cryptocurrency Price Today: After a brief effort of coming out of the bear markets last week, the crypto market faced a few bumps while starting the current week. As an effect of cryptocurrencies including Bitcoin, Ether, Solana and Polkadot plunging as the week began, the global cryptocurrency market cap on Monday, July 25, dropped by 3.06 per cent over the past day to $1.01 trillion.
Bitcoin lost its gains made over the past week that made it reach its one-month high of $23,000 and dropped below the $22,000 levels on Monday. Bitcoin price today fell 3.76 per cent over the last 24 hours to stand at $21,927.40 as per data from CoinMarketCap while writing this article. Bitcoin’s downward trod began during the end of last week as Elon Musk’s Tesla announced that it sold 75 per cent of its BTC holdings.
“After a brief relief rally, Bitcoin traded sideways on Sunday, dropping to the US$22,000 level after touching above the US$23,000 level in the past week. Despite the drop with increasing selling pressure, BTC has retained 6% gains from the previous week. We may see BTC rise towards the US$24,000 level this week as the seller’s power is accompanied by high volume. Even though things seem favourable for buyers, there are also chances that BTC may fall to the US$20,000 level if it drops below the current level,” said Edul Patel, CEO and co-founder of Mudrex.
“Bitcoin remained steady around the $23,000 level with a minor dip in prices in the last couple of days, as sellers dominated the market. On the 4-hourly time-frame, the BTC trend has broken out of the ascending channel pattern and is now retesting the resistance levels of the pattern. The next key resistance level for BTC is expected at $32,300. We could expect a price movement towards the $25,000 level in the coming days,” said analysts at WazirX trade desk.
Ethereum, on the other hand, despite a drop maintained the $1500 level. Ether price today at the time of writing this article was $1,521.88, down by 5.66 per cent in the last 24 hours, data from CoinMarketCap showed.
Ethereum continued to maintain a strong position above the $1,500 level. ETH against Bitcoin has been on an overall uptrend since the past week or so with Bitcoin’s dominance index dipping below the 43% level. The weekly chart for ETH-BTC continues to traverse within a descending triangle pattern and is on the verge of a breakout. The next key resistance for ETH-BTCis expected at 0.076.
Here are the top 10 cryptocurrencies and their prices on July 25, 2022, Monday, (According to data from coinmarketcap.com)
Bitcoin $21,927.40 or 3.76 per cent loss in the last 24 hours
Ethereum $1,521.88 or 5.66 per cent loss in the last 24 hours
Tether $1.00 or 0.01 per cent gain in the last 24 hours
USD Coin $0.9998 or 0.03 per cent loss in the last 24 hours
BNB $255.48 or 2.91 per cent loss in the last 24 hours
Binance USD $1.00 or 0.07 per cent loss in the last 24 hours
XRP $0.3453 or 4.74 per cent loss in the last 24 hours
Cardano $0.4941 or 4.70 per cent loss in the last 24 hours
Solana $38.43 or 5.79 per cent loss in the last 24 hours
Dogecoin $0.06511 or 5.23 per cent loss in the last 24 hours
Read all the Latest News and Breaking News here
Comments
0 comment