Crypto Market Dips Marginally, Trading Volume Surges 7.57%; Bitcoin, Ethereum Down

The global crypto market dips marginally on Monday. The total market cap was down by 3.41 per cent to $2.3 trillion, while the total trading volume was up by 7.57 per cent to $56.15 billion. Pepe PEPE was the most trending cryptocurrency. It was down by 9.56 per cent to $0.000006864. Its 24-hour trading volume was $614.24 million. Helium HNT was the top gainer. It was up by 10.03 per cent. Its 24-hour trading volume was $58.14 million. Core CORE was the top loser. It was down by 11.58 per cent. Its 24-hour trading volume was $86.16 million.

DeFi was down by 2.03 per cent to $5.28 billion, Coinmarketcap.com reported.

Also Read: Bitcoin Sets New Record for Daily Transactions

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Today, Bitcoin's pivot point is at $64,075, which is crucial for traders. Immediate resistance lies at $65,092, with further barriers at $66,745 and $67,887 if momentum continues. Support is at $62,754 with potential declines to $61,782 and $60,780. The Relative Strength Index (RSI) at 43 indicates neutrality, lacking strong momentum. The 50-day EMA of $64,355 near the pivot indicates a critical moment. On the 4-hour chart, Bitcoin has broken below the descending triangle, suggesting further declines towards $61,750 and possibly $60,750. Overall, the technical outlook is bearish below $64,075, with a break signaling the potential for further declines, while a break above it could lead to bullish sentiment and tests of upper resistance levels."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was down by 2.79 per cent to $62,169.12. Its 24-hour trading volume was $20.09 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.0 per cent.

Ethereum: Ethereum ETH was down by 4.28 per cent to $3,178.23 from the previous day. Its 24-hour trading volume was $13.18 billion. Ethereum’s market dominance was 16.1 per cent.

Tether: Tether USDT was trading at $0.9999. It was down by 0.05 per cent. Its 24-hour trading volume was $40.19 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was down by 6.23 per cent to $134.69. Its 24-hour trading volume was $2.03 billion.

Avalanche AVAX was trading at $33.17, down by 4.74 per cent. Its 24-hour trading volume was $264.94 million.

Cardano ADA was down by 6.11 per cent to $0.4481

from the previous day. Its 24-hour trading volume was $270.64 million.

Meme Coins

Dogecoin DOGE was down by 5.97 per cent, with a 24-hour price of $0.1412.

Shiba Inu SHIB was down by 6.15 per cent to $0.00002344.

Decentralised Finance

DeFi coin was trading at $0.04604, the same as yesterday.

Yearn.Finance YFI was down by 5.52 per cent to $6,740.75 in the last 24 hours. Its 24-hour trading volume was $14.84 million