By: Swastika Das Sharma
Last Updated: July 16, 2022, 11:43 IST
New Delhi, India
Cryptocurrency market cap on Saturday stayed above the $930 million mark
Cryptocurrency Price Today: Even though it started on a bearish note this week, the global cryptocurrency market ended with decent gains, crossing the $930 million mark towards the end of it and remaining comfortable on that level as the week ended. The global crypto market cap was standing at $930.86 billion on Saturday, July 16, up by 0.56 per cent over the past 24 hours, as per data.
“Even though this week started with a bearish trend with an increasing selling pressure, followed by the Euro falling to its lowest against the US dollar. The momentum picked up in the mid-week when the crypto market had slight growth with bulls trying to push the prices up. Bitcoin, Ethereum and most cryptocurrencies bounced back on Thursday, tracking gains in the US stock market,” said Edul Patel, CEO and co-founder of Mudrex.
However, analysts at the WazirX trade desk on Friday had said that the market sentiment is “seemingly diving deeper into the fear zone”.
The world’s largest cryptocurrency, Bitcoin’s price stayed closer to the $21,000 mark on the day, while it had breached the same levels in the previous session. Bitcoin price today stood at $20,719.83, up by a slight 0.77 per cent over the past 24 hours, data from CoinMarketCap showed at the time of writing this article.
“Bitcoin has bounced off the US$20,000 mark, after bulls pushing the coin up. If buyers can hold BTC at the current level, we might see it testing the US$21,000 level soon,” said Patel.
“The next resistance level for BTC is expected at $32,300 and an immediate support level is expected at $17,700,” commented the analysts at the WazirX trade desk.
Meanwhile, Ether stayed above the $1200 mark on the day. At the time of writing this article, Ethereum price was standing at $1,213.17, which is up by 1.21 per cent over the past 24 hours.
“Ethereum has outperformed Bitcoin, gaining nearly 12 per cent after its Shadow Fork 9 went live in the lead-up to the merge. If the market continues at the same pace, we could see Bitcoin trade above US$21,000 in the coming week wiping its weekly losses. Overall, the market seems bullish this week,” noted Patel.
Here are the top 10 cryptocurrencies and their prices on July 16 2022, Saturday, (According to data from coinmarketcap.com)
Bitcoin $20,719.83 or 0.77 per cent gain in the last 24 hours
Ethereum $1,213.17 or 1.21 per cent gain in the last 24 hours
Tether $0.9998 or 0.02 per cent gain in the last 24 hours
USD Coin $0.9998 or 0.04 per cent loss in the last 24 hours
BNB $236.39 or 0.43 per cent loss in the last 24 hours
Binance USD $0.9992 or 0.23 per cent loss in the last 24 hours
XRP $0.3349 or 1.54 per cent loss in the last 24 hours
Cardano $0.4387or 0.82 per cent loss in the last 24 hours
Solana $37.15 or 0.18 per cent gain in the last 24 hours
Dogecoin $0.06246or 0.40 per cent gain in the last 24 hours
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About the Author
Swastika Das Sharma, Subeditor at News18.com, has been part of digital media since 2020. She has completed her post-graduation from Asian College of J…Read More
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By: Swastika Das Sharma