“Bitcoin remained below $17,000 as the market remained volatile after the recent release of the Federal Open Market Committee (FOMC) minutes. BTC’s near-term support is at the $16,800 level, The resistance is $16,900 and then $17,000,” said Edul Patel. His CEO and co-founder of Mudrex said:
However, a clear break above these levels could give confidence among the bulls and go further, he said.
Most of the other top crypto tokens also dropped on Friday. Tron fell 7.62%. Binance, XRP, Dogecoin, Polygon and Litecoin also dropped.
The global cryptocurrency market capitalization has fallen by 0.54% over the past 24 hours, trading at around $816.2 billion.
DeFi total volume is currently $1.9 billion, equivalent to 6.90% of the total 24-hour cryptocurrency market volume. Currently, the volume of all stablecoins is $26.47 billion, accounting for 96.34% of the total 24-hour volume of the crypto market. According to CoinMarketCap, the price of Bitcoin, the world’s largest cryptocurrency, hovered around $324 billion, dominating about 39.67% and up 0.17% in a single day.
“Bitcoin and Ethereum remain stable despite concerns surrounding the economy and a hawkish stance by central banks. The US jobs report due out today will rock traditional crypto markets next week. It’s possible,” said BuyUcoin CEO Shivam Thakral.
Global update:
Cryptocurrency lender Genesis has cut 30% of its workforce in a second round of layoffs in less than six months, according to people familiar with the matter.
Genesis Global Capital, the lending arm of the crypto firm, froze customer withdrawals on Nov. 16, citing “unprecedented market turmoil” following the collapse of major crypto exchange FTX.
(with input from institutions)
Crypto Cart: Quick
(Source: coinmarketcap.com, data as of 12.01 hours, IST on Jan 4, 2023)
-Bitcoin $16,821.51 -0.19%
-Ethereum $1,249.92 -0.37%
-Tether $0.9997 -0.01%
-USD Coin $0.9999 -0.01%
-BNB $257.22 -0.61%
-XRP $0.3358 -3.38%
-Dogecoin 0.07177 -3.73%
-Cardano $0.2724 1.15%
-Porygon $0.7829 -2.67%
-Polkadot $4.63 -0.16%
-Tron $0.05082 -7.14%
-Litecoin $74.24 -2.45%
-Shiba Inu $0.000008386 -2.77%
-Solana $13.18 -1.31%
(Note: price changes over the last 24 hours)
(Disclaimer: Professional recommendations, suggestions, views and opinions are their own and do not represent the views of The Economic Times)
