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Cryptocurrency rate today: It looks like the bears are about to take over the crypto markets once again as the crypto assets gave up last week’s gains and slipped again. As a result, the global cryptocurrency market capitalization has also fallen below the $1 trillion mark again, days after it surpassed and held the position. On Wednesday, July 27, the cryptocurrency market capitalization reached $977.81 billion, an increase of 0.84 percent on the day, according to data retrieved from CoinMarketCap.com.
“The cryptocurrency market has been in a downtrend, with the two largest cryptocurrencies, Bitcoin and Ethereum, giving up their weekly gains over the past two days. The market appears to be reacting to the upcoming FOMC meeting,” said Edul Patel, CEO and co-founder of Mudrex.
Today’s Bitcoin price was standing at $21,210.92 at the time of writing this article, up 0.41 percent over the past 24 hours. Over the past seven days, the price of Bitcoin has risen by 10.40 percent, thus erasing the gains made over the past week.
“Bitcoin is hovering around the $21K level after closing in the red for the past two days. Market sentiment continues to warm up towards Bitcoin and other cryptocurrencies as institutional investors look forward to a positive market recovery as inflows into the crypto markets continue to rise with an influx of nearly 16 $1 million to Bitcoin alone last week,” said analysts at WazirX Trade desk desk.
“On the daily time frame, the BTC trend is retesting the triangle at the breakout levels. The next major resistance level for Bitcoin is expected at $32,300 and the immediate support is expected at $19K.”
Bitcoin extended its decline on Tuesday against increased trading volume and selling pressure. The sellers are likely to test the $20,000 area soon. On the other hand, there are also chances that investors will push Bitcoin a little higher, considering it a less risky asset than others before the FOMC meeting,” Idol Patel noted.
The price of Ethereum today at the time of writing this article is giving a value of $1,448.88, up 1.89 percent over the past 24 hours. Over the past seven days, Ether has given up 7.87 percent of its value.
“ETH (Ethereum) has weakened against Bitcoin in the past few days as the crypto markets in general have corrected a bit. ETH-BTC daily chart continues to cross the descending triangle pattern making lower tops as another bearish trend is expected after bouncing off resistance level. Pattern. The next major support for ETH-BTC is expected to reach 0.049,” said WazirX analysts.
Here are the top 10 cryptocurrenciesd prices as of July 27, 2022, Wednesday, (according to data from coinmarketcap.com)
Bitcoin $21,210.92 or 0.41% increase over the past 24 hours
Ethereum $1448.88 or 1.89% gain in the last 24 hours
Tie a gain of $1.00 or 0.00 percent in the last 24 hours
USD Coin gained $1.00 or 0.03 percent in the last 24 hours
BNB $253.02 or 4.15 percent gain in the last 24 hours
Binance gains $1.00 or 0.21 percent over the past 24 hours
XRP $0.334 or 0.23 percent over the past 24 hours
Cardano $0.6446 or 0.35 percent loss in the last 24 hours
Solana $36.77 or 3.12 percent gain in the last 24 hours
Dogecoin $0.06266 or 1.74 percent over the past 24 hours
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