Bitcoin crosses $25K
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $481 billion, with a dominance of about 42.56%, an increase of 0.30% over the day, according to Coin markets.
The global cryptocurrency market cap was trading higher around $1.13 trillion, rising 1.09% in the last 24 hours.
The total volume in DeFi is currently $7.57 billion, 12.20% of the total crypto market 24-hour volume. The volume of all stablecoins is now $55.01 billion, which is 88.73% of the total crypto market 24-hour volume.
Ahead of the release of the FOMC minutes on Wednesday, the cryptocurrency market was trading higher on Tuesday. Ethereum (ETH) rose over 0.62% to $1,700, whereas Bitcoin (BTC) was above the $25,000 level. BTC volume in the last 24 hours stood at approximately $27.52 billion, falling 4.37% in the last 24 hours.
The release of the FOMC minutes on Wednesday could affect the price of Bitcoin, as any hint of a shift in US monetary policy can affect financial markets. Bitcoin is currently trading in a range of $23,700 to $25,200 with another resistance level at $25,200. Technical indicators such as RSI and MACD are showing divergence, indicating uncertainty among investors. If the price breaks below the $23,750 support level, the next support level is $22,850,” Sathvik Vishwanath, Co-Founder & CEO of Uno coin said.
