Following the Fed interest hike, the crypto market is neutral. Today, Bitcoin reversed from $24,253, a strong resistance zone for the last few days.
Derivates display positive funding rates, indicating that cryptocurrency will stay in the green for the next few hours.
The Crypto market is in Neutral after the Fed interest hike. Today, Bitcoin reversed from $24,253 which is a major resistance zone for the last few days. Bitcoin is trading at $23,706, looking the support of MA9 and RSI remains positive at 72.61. The global crypto market cap remained above the psychological $1 trillion level, the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) –Neutral.
BTC crossed the $24,000 milestone for the first time in five months this past week, which was fantastic for the cryptocurrency industry. The demand for BTC is mostly being driven by institutional investors, who are increasing their holdings in anticipation of the next bull run.
The global cryptocurrency market cap rise by 0.24% to $1.1 trillion in the last 24 hours, according to CoinGabbar data at the time of writing. The total crypto market volume over the last 24 hours was $91.77 billion.
Cryptoquants Derivates shows positive funding rates which means crypto will remains green in the coming hours.
BTC price has fall by 0.23% in the last 24 hours. At the time, BTC was trading at $23,730. In the last 7 days, BTC price has rise by 2.91%. Bitcoin (BTC) dominance fall from 40.85% to 40.6% while ETH dominated 19.7% of the total crypto markets.
Ethereum (ETH): Ethereum price rise by around 1.24% to $1,664 in the last 24 hours. In the last 7 days, ETH price has rise by over 3.12%. It is currently ranked as the 2nd largest crypto asset on CoinGabbar.
Solana (SOL): Solana price fall 0.884% to $24.79 in the last 24 hours. In the last 7 days, SOL price has rise by nearly 0.79%. It is currently ranked as the 12th biggest crypto asset on CoinGabbar.
Dogecoin’s (DOGE) price fall by 2.2% in the last 24 hours. DOGE is currently ranked 9th. The price of DOGE at the time of this report was $0.09192.
Polygon (MATIC) price rise by around 1.2% to $1.2049 in the last 24 hours. In the last 7 days, MATIC price has rise by around 21.75%. It is currently ranked 10th on CoinGabbar.
Shiba Inu (SHIB) rise by 2.46% in the last 24 hours to $0.00001225. It is currently ranked 15th on CoinGabbar.
One of the numerous nations that are embracing cryptocurrencies swiftly is Indonesia, which has ambitions to open the first government-backed cryptocurrency exchange in the world no later than June 2023.
The exchange was originally scheduled to debut towards the end of the previous year, according to the Indonesian government's Ministry of Trade.
Brett Harrison, a former executive of FTX US, has founded Architect, a new provider of crypto trading software. He wanted to raise money at a valuation of $100 million, but only $5 was raised at a $60 million valuation. He attributed the lack of funds to the crypto winter and his affiliation with sbf.
The European Central Bank increased its benchmark interest rate by 0.5%, and President Christine Lagarde predicted that there would be more such changes in the future.
