Crypto Market Dips Marginally Along With Trading Volume; Bitcoin, Ethereum Down

The global crypto market dips marginally on Thursday. The total market cap was down by 1.29 per cent to $2.13 trillion, even as the total trading volume was down by 10.91 per cent to $59.14 billion. Bitcoin BTC was the most trending, it was down by 1.92 percent to $57,975.95. Its 24-hour trading volume was $24.79 billion. Stacks STX was the top gainer. It was up by 8.02 per cent. Its 24-hour trading volume was $138.43 million. Flare FLR was the top loser. It was down by 8.42 per cent. Its 24-hour trading volume was $12.38 million.

DeFi was down by 0.67 percent to $3.41 billion, Coinmarketcap.com reported.

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Rajagopal Menon, VP, WazirX said, "Bitcoin is trading near $57,500, having touched $58,500 earlier today. Key to its recovery is the $58,000 level, which represents Bitcoin's 200-day EMA. A sustained close above this level on higher timeframes could propel BTC towards $63,000. Recent attempts to break a month-and-a-half downtrend near $59,000 were met with resistance, causing a pullback to around $58,000."

He further mentioned, "Technical indicators indicate a potential slowdown as the hourly MACD loses momentum in the bullish zone. However, the hourly RSI for BTC/USD remains above 50, indicating bullish sentiment. Crucial support levels are $57,200 and $56,000, offering protection against downturns. On the upside, Bitcoin faces resistance at $58,400 and $59,500, pivotal for further upward movement."

He added, "BONK Coin, trading at $0.00002546 with a 2.05% decrease, recently reclaimed support at $0.0000182 and maintained a base around $0.0000248. A potential test towards $0.0000291 is anticipated, particularly if Bitcoin climbs above $60,000, potentially pushing BONK towards $0.0000441 and setting new highs above $0.0000291."

At last, "MATIC Coin saw a 0.5% increase, trading at $0.5071, despite Bitcoin's decline. After a 66% loss over 114 days, MATIC initiated a recovery on July 5, aiming to reclaim support at $0.546 and targeting $0.68, with the potential to rekindle interest in targets above $1.

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 1.92 per cent to $57,975.95. Its 24-hour Binance Reassures Indian Users Of Crypto Accounts' Safety Amid Cryptocurrency Exchange Bantrading volume was $24.77 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.6 per cent.

Ethereum: Ethereum ETH was down by 0.33 percent to $3,096.99 from the previous day. Its 24-hour trading volume was $13.62 billion. Ethereum’s market dominance was 17.4 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.02 per cent. Its 24-hour trading volume was $45.83 billion. It is ranked third on Coinmarketcap.

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Other Altcoins

Solana SOL was down by 2.01 per cent to $141.25. Its 24-hour trading volume was $1.71 billion.

Avalanche AVAX was trading at $25.62, down by 5.58 per cent. Its 24-hour trading volume was $236.3 million.

Cardano ADA was up by 1.99 percent to $0.3921 from the previous day. Its 24-hour trading volume was $256.47 million.

Meme Coins

Shiba Inu SHIB was down by 1.32 per cent, with a 24-hour price of $0.00001648.

Dogecoin DOGE was also down by 1.37 per cent to $0.1083.

Decentralised Finance

DeFi coin was trading at $0.03638, up by 0.68 per cent.

Yearn.Finance YFI was down by 1.06 per cent to $5,790.86 in the last 24 hours. Its 24-hour trading volume was $12.29 million.