โBitcoin remained below the $17,000 level as the market remained volatile following the recent release of the Federal Open Market Committee (FOMC) minutes. Immediate support for BTC is at the $16,800 level, with resistance at $16,900 and then at $17,000," Edul Patel, CEO and co-founder of Mudrex, said.
However, a clear move above these levels could create a sense of confidence among bulls to go higher, he said.
Most other major crypto tokens were also trading lower on Friday. Tron fell 7.62%. Binance, XRP, Dogecoin, Polygon, and Litecoin were also trading lower.
The global cryptocurrency market capitalization was trading lower, around $816.21 billion, falling 0.54% over the past 24 hours.
Total volume in DeFi is currently $1.9 billion, 6.90% of the total 24-hour volume of the crypto market. The volume of all stablecoins is now at $26.47 billion, 96.34% of the total 24-hour volume of the crypto market. The price of Bitcoin, the world's largest cryptocurrency, was hovering around $324 billion, with a dominance of around 39.67%, up 0.17% over the day, according to CoinMarketCap.
"Bitcoin and Ethereum remain stable despite concerns around the economy and the aggressive stance taken by central banks. The US jobs report due today may rock the traditional and crypto market next week" Shivam Thakral, CEO of BuyUcoin, said.
Global Updates:
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.
The lending arm of the cryptocurrency firm, Genesis Global Capital, froze client withdrawals on Nov. 16, citing โunprecedented market dislocationโ following the collapse of major cryptocurrency exchange FTX.
(With contributions from agencies)
Crypto Cart: Fast
(Font:
coinmarketcap.comdata as of 12:01 a.m. IST Jan 04, 2023)
-Bitcoin $16,821.51 -0.19%
-Ethereum $1,249.92 -0.37%
-Tether $0.9997 -0.01%
-USD Currency $0.9999 -0.01%
-BNB$257.22 -0.61%
-XRP $0.3358 -3.38%
-Dogecoin 0.07177 -3.73%
-Cardano $0.2724 1.15%
-Polygon $0.7829 -2.67%
-Polka Dots $4.63 -0.16%
-Tron $0.05082 -7.14%
-Litecoin $74.24 -2.45%
-Shiba Inu $0.000008386 -2.77%
-Sun $13.18 -1.31%
(Note: price change in the last 24 hours)
(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
