Bitcoin rose 0.56% to $26,291 at 11:58 am, while Ethereum rose 0.78% to $1,590.
The cryptocurrency market has traded sideways with slight buying pressure. Continuing its oscillation between the neutral and fear zones, the Crypto Fear and Greed Index returns to the fear zone with a score of 46/100 after losing one point since yesterday. Markets in general, including cryptocurrencies and even global stocks, are currently grappling with concerns over rising rates and rising Treasury yields, said Shubham Hudda, senior manager at CoinSwitch Markets Desk.
Except for Solana, Toncoin and Shiba Inu, all major crypto tokens were trading higher on Tuesday. BNB, XRP and Polygon gained up to 2%.
The market capitalization of Bitcoin, the world's largest cryptocurrency, was around $512 billion. Bitcoin dominance is currently 48.93%, according to CoinMarketCap. Meanwhile, BTC volume stood at approximately $10.46 billion, falling 0.45% in the last 24 hours.
"Bitcoin continues to consolidate above $26,000 and is up ~2% this month. If it ends in the green this week, it will be the first time in seven years that Bitcoin did not have a drop in September. Key resistance level at $27,500 "It is the next target to surpass to sustain price action," said Vikram Subburaj, CEO of Giottus Crypto Platform. "Meanwhile, the US Dollar Index, DXY, is showing strength: it is now above 106 from a low of ~ 100 two years ago. months ago. โThis may negatively impact cryptoasset prices in the short term,โ Subburaj said.
The CoinDCX research team said: On a positive note, MicroStrategy President Michael Saylor announced that the company invested $147.3 million to acquire an additional 5,445 BTC on September 24. This new purchase brings MicroStrategy's total Bitcoin holdings to an impressive 158,245 coins. However, it is worth noting that the BTC price did not react much after this news.
Technical view of Rajagopal Menon, Vice President of WazirX on the crypto market
BTC's 10-day and 200-day exponential moving average indicates "sell" sentiment at 26473 and 26959, respectively. Similarly, the simple moving average for the 10-day and 200-day SMA indicates a โsellโ at 26629 and 27930, respectively. Exponential moving averages show โSellโ sentiment.
The Ichimoku baseline, valued at 26203, is showing โneutralโ sentiment for quite some time, while the hull moving average is indicating a โbuyโ signal at 26194. The volume-weighted moving average at 26343 showed a โbuyโ signal. buys".
The MACD level (12, 26) at -45 indicates a "buy". The Stochastic Fast RSI (3, 3, 14, 14) is at 27 with a 'Neutral' indicator, while the Williams Percentage Range (14) at -65 signals 'Neutral'.
