Synopsis
Cryptocurrency markets traded higher on Monday, led by gains in Bitcoin, Dogecoin, Solana, and Dogecoin. The global cryptocurrency market cap increased by 1.53%. Bitcoin was trading 1.7% higher at $68,218, while Ethereum rose by 1.67%.
Cryptocurrency markets traded higher on Monday, led by gains in Bitcoin, Dogecoin, Solana, and Dogecoin. The global cryptocurrency market cap increased by 1.53% to approximately $2.32 trillion in the last 24 hours.
At 2:07 pm IST, Bitcoin (BTC) was trading 1.7% higher at $68,218, while Ethereum rose by 1.67% to $2,507. Earlier in the day, Bitcoin briefly touched the $68,550 mark.
Among other major cryptocurrencies, BNB gained 1.5%, Solana 1.4%, Dogecoin surged 3.4%, and Avalanche increased by 1.6%. Polkadot and Litecoin also posted gains of 3.8% and 2.6%, respectively.
Crypto Tracker
TOP COIN SETSBTC 50 :: ETH 50-1.45% BuyDeFi Tracker-2.62% BuyWeb3 Tracker-6.95% BuyAI Tracker-8.73% BuyNFT & Metaverse Tracker-10.37% BuyTOP COINS (₹) Ethereum213,240 (2.77%)BuyBitcoin5,766,056 (2.26%)BuySolana14,948 (2.05%)BuyBNB49,934 (1.98%)BuyTether84 (0.06%)Buy”Bitcoin is on an upward trend after experiencing a weekend of high volatility due to Middle East tensions. Despite this, BTC remains strong above $68,000, supported by ETF inflows totalling at $3 billion in October. With Bitcoin’s market dominance nearing 60%, momentum is likely to continue, fueled by growing interest from retail and institutional investors,” said Edul Patel, CEO of Mudrex.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details »CoinSwitch Markets Desk, said, “With the result of the next president of the United States just a week away, a likely Trump win is also seen as a positive development by the crypto community. It is to be noted that Trump has already announced his plan to make Elon Musk lead the new Department Of Government Efficiency (D.O.G.E.) if elected, which could also start a rally in Musk’s favorite crypto Dogecoin again.”
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The volume of all stablecoins is now $50.5 billion, which is 90.36% of the total crypto market 24-hour volume, as per data available on .
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, increased to $1.349 trillion. Bitcoin’s dominance is currently 58.3%, according to . BTC volume in the last 24 hours surged 41.3% to $21 billion.
Tech view by ZebPay Trade Desk
Bitcoin has dipped slightly more than 2% this week, but a key positive indicator is that buyers have managed to prevent the price from staying below $65,000. This support rebounded, lifting Bitcoin above $67,500 on October 27. On October 25, sellers attempted to push the price under the 20-day exponential moving average (EMA) at $66,201, but the bulls held this price point firmly. This resilience indicates that market sentiment remains optimistic, with traders continuing to buy the dips.
After making the all-time high of $73,777, BTC started trading in a ‘Descending Channel’ pattern. The bulls are trying to give a breakout above the pattern as the price has been near the resistance (the upper downsloping line of the pattern) over the past seven days. BTC has also struggled to sustain a weekly closing above $70k. Once it does that, we can expect it to break the all-time high and give another rally.
Key Levels for BTC:
Support 1: $66,500
Support 2: $62,000
Resistance 1: $70,000
Resistance 2: $73,777
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times.)
