CRYPTOCURRENCY PRICES UPDATES: The world’s largest and most well-known digital currency, Bitcoin, saw its price rise today as it traded nearly flat with a bullish bias at USD 20,533. According to experts, the recent sideways price movements in the cryptocurrency market are connected to the impending macroeconomic events in several global markets.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, increased by about 1 percent to USD 1,591.
“Most cryptocurrencies traded sideways for the second day in a row. Bitcoin has been steadily trading above the USD 20,500 level in recent days; if it can maintain consistent gains above that level, the next resistance would be at the USD 21,000 level; if not, we might see BTC falling to the USD 20,000 level. The second-largest cryptocurrency, Ethereum, has also been trading sideways in line with BTC. ETH has gained more than 8 percent in the past week.
Shiba Inu was also up about 3 percent to USD 0.000012 while Dogecoin was trading more than 11 percent higher at USD 0.14. This past week, Dogecoin saw a 100 percent increase, considerably outpacing the gains of the two most popular tokens in the world, Ethereum and Bitcoin.
The performance of other cryptocurrencies today was varied, with gains seen in Binance USD, Chainlink, Tether, Cardano, Polygon, XRP, Terra, Tron, Litecoin, and Uniswap while losses were seen in ApeCoin, Avalanche, Polygon, Polkadot, Solana, and Stellar.
According to CoinGecko, the global crypto market valuation was USD 1.06 trillion in the last 24 hours, although it was still above the USD 1 trillion threshold today.