As of 11:44 a.m. IST, Bitcoin was down 0.9% at $64,384, while Ethereum remained above the $3,400 level. Earlier in the day, Bitcoin briefly reached $65,000.
“Bitcoin is consolidating around the $63,000 level, amidst a continued slump in US equity prices and ongoing speculation about the presidential election race. If BTC fails to climb above the $64,650 resistance zone, it could move downward toward the $62,500 level. Additionally, the recent hack of WazirX has added pressure on Indian investors,” said Edul Patel, CEO of Mudrex.
CoinDCX Research Team, said, “BTC and ETH are moving sideways, while many altcoins saw a decline yesterday. BTC took support at $63,300 and bounced back; it needs to clear the $66,800 resistance for an upside move in the short term.”
The volume of all stablecoins is now $63 billion, which is 91.6% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $1.267 trillion. Bitcoin’s dominance is currently 53.8%, according to CoinMarketCap. BTC volume in the last 24 hours declined 14.5% to $26.5 billion.
Tech view by Sathvik Vishwanath, Co-Founder & CEO, Unocoin
Currently, BTC is trading at around $64,600 and showing a slight increase. Key levels include resistance at $65,000 and support at $64,500. With a market cap of $1.28 trillion and a circulating supply of 19.73 million BTC, technical indicators suggest a cautiously optimistic outlook.
(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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