Crypto Price Today:- The benchmark 10-year US Treasury yields reached a 16-year high the day after Fed Chairman Jerome Powell’s cautionary statement about inflation still being far from the central bank’s 2% target. During that time, Bitcoin (BTC) was trading at $26,620, which was 1.62% lower, while Ethereum (ETH) was below the 1,600 level. At the same time, the global cryptocurrency market cap was experiencing a decline, currently at around $1.0..
Crypto Price Today
The monetary policy remarks made by the US Feds have had an impact on investors across various markets, including the crypto market. It appears that these remarks have led to a sell-off, causing some concern among investors. The fear and greed index for crypto has dropped by 4 points since yesterday and is currently at a score of 43/100, indicating a return to the fear zone. Parth Chaturvedi, Investments Lead at CoinSwitch Venture, highlighted this development.
Meanwhile, Edul Patel, the CEO & Co-founder of Mudrex, commented on the trading activity of Bitcoin. However, the specific content of his statement was not provided.
Other leading cryptocurrencies also experienced a decline in trading on Friday. Both Polygon and Polkadot saw a decrease of 3%, while Solana, Cardano, Dogecoin, and Ethereum all fell by up to 2%.
The current volume in the decentralized finance (DeFi) market stands at $65.01 billion, accounting for 26.77% of the total volume of the entire cryptocurrency market over the past 24 hours. Furthermore, stablecoins make up $240.83 billion of the overall crypto market volume, representing 99.18% of the total 24-hour volume.
According to CoinMarketCap, Bitcoin currently holds a dominance of 49.20%. Meanwhile, the volume of BTC within the last 24 hours…
Tech view by Rajagopal Menon, Vice President at WazirX on the Crypto Market
BTC’s Exponential Moving Average for 10-day and 200-day indicate a ‘Buy’ and ‘Sell’ sentiment at 26617 and 26984, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a ‘Sell’ at 26677 and 27825, respectively. Exponential moving averages show a mixture of ‘Buy’ and ‘Sell’ sentiments.