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Cryptocurrency rate today: Soon after the US Federal Reserve raised interest rates, it Cryptocurrency The market consolidated its rally on Friday, July 29th. The global cryptocurrency market capitalization on the day rose 3.90 percent to $1.10 trillion, according to data from CoinMarketCap. Gains in Bitcoin, Ethereum Solana and other major cryptocurrencies over the past 24 hours have pushed the global cryptocurrency market cap to levels it lost earlier this year. The rise in the Fear and Greed Index to its highest level since April of this year also fueled the rally.
Bitcoin closed in the green after crossing the $24,000 mark on Thursday, and kept levels open on Friday. Later in the day, the price dropped slightly to hover around the $23,900 mark. The price of Bitcoin today at the time of writing this article is $23920.29, up 4.37 percent over the past 24 hours.
Bitcoin closed again in the green after a 4 percent jump yesterday to surpass the $24,000 level following the Federal Open Market Committee’s recent decision to raise rates by another 75 basis points. Market sentiment also responded positively as the Fear and Greed Index jumped to its highest levels since the beginning of April this year. The daily trend of BTC continues to cross the descending channel pattern, despite it being in an uptrend. The next major resistance level for BTC is expected at $32,300. “We can see this uptrend continue for the next few days,” a WazirX Trade Desk spokesperson said.
“Bitcoin has been in an uptrend with minor corrections over the past two weeks. BTC continued to rise, touching the $24,000 level on Thursday and rebounding to the consolidation point at $23,000. The bulls are pumping the price towards the next critical resistance level at $25,000, Which could be possible with a broad build-up trend. If BTC fails to clear the $24,000 resistance area today, we may see a downward correction. But as of now, looking at the price direction, BTC may continue higher today,” said Edul Patel, Head of CEO and Co-Founder of Mudrex.
Ethereum gained 14 percent on Thursday and the rally continued on Friday as well. Today’s ether price has jumped 5.63 percent at the time of writing to the $1708.47 scale, its highest level in nearly two months.
Ethereum has made huge gains of 14 percent and 6 percent, respectively, in the past two days, breaking the $1,700 level after nearly two months. Investors are still hoping for Ethereum to hit a bullish run before the Proof of Stake (PoS) transition. Ethereum daily trend broke the pattern and rushed forward. The next major resistance for Ethereum is expected to be at the $4,400 level,” a WazirX spokesperson said.
Here are the top 10 cryptocurrencies and their prices on July 29, 2022, Saturday (according to data from coinmarketcap.com)
Bitcoin $23,920.29 or 4.37% gain in the past 24 hours
Ethereum $1,708.47 or 5.63% gain in the last 24 hours
Tie a gain of $1.00 or 0.00 percent in the last 24 hours
USD Coin 0.9996 USD or 0.04 percent loss in the last 24 hours
BNB $277.14 or 3.51 percent gain in the last 24 hours
XRP $0.3704 or 4.93% gain in the last 24 hours
Cardano $0.5255 or 5.01 percent over the past 24 hours
Binance gains $1.00 or 0.18 percent over the past 24 hours
Solana $42.71 or 8.58 percent gain in the last 24 hours
Dogecoin $0.06961 or 4.63 percent gain in the past 24 hours
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