“Bitcoin remained below the $17,000 level as the market remained volatile following the recent release of the Federal Open Market Committee’s (FOMC) minutes. The immediate support for BTC is at the $16,800 level, with resistance at $16,900 and then $17,000,” Edul Patel, CEO and Co-founder of Mudrex, said.
However, a clear move above these levels might create a sense of confidence among the bulls to move further, he said.
Most of the other top 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 cap was trading lower, around $816.21 billion, falling 0.54% in the last 24 hours.
The total volume in DeFi is currently $1.90 billion, 6.90% of the total crypto market 24-hour volume. The volume of all stablecoins is now $26.47 billion, 96.34% of the total crypto market 24-hour volume.
The price of Bitcoin, the world’s largest cryptocurrency, hovered around $324 billion, with a dominance of about 39.67%, an increase of 0.17% over the day, according to CoinMarketCap.
“Bitcoin and Ethereum continue to be stable despite the concerns surrounding the economy and the hawkish stance taken by central banks. The US jobs report slated to be released today may shake up the traditional and crypto market next week,” Shivam Thakral, CEO of BuyUcoin, said.
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 crypto firm’s lending arm, Genesis Global Capital, froze customer withdrawals on Nov. 16, citing “unprecedented market dislocation” following the collapse of major crypto exchange FTX.
(With inputs from agencies)
Crypto Cart: Quick
coinmarketcap.com, data as of 12.01 hours, IST on January 04, 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%
-Polygon $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 change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)