Cryptocurrency Price Today: The bears are seemingly on the verge of taking over the crypto markets again as the digital assets have shed their gains made past week and tumbled one more time. As an effect, the global cryptocurrency market cap has also fallen below the $1 trillion mark one again, days after swishing past it and holding the position. On Wednesday, July 27, the crypto market cap was standing at $977.81 billion, an increase of 0.84 per cent over the day, as per data retrieved from CoinMarketCap.com.
“The crypto market has been on a bearish trend, with the two largest cryptocurrencies, Bitcoin and Ethereum, surrendering their weekly gains over the past two days. The market seems to react to the upcoming Federal Open Market Committee meeting,” said Edul Patel, CEO and co-founder at Mudrex.
Bitcoin price today was standing at $21,210.92 while writing this article, up by 0.41 per cent in the past 24 hours. Over the last seven days, Bitcoin price has spiralled by 10.40 per cent, thus shedding gains made over the past week.
“Bitcoin hovered around the $21K level after closing in red for the last couple of days. The market sentiment continued to warm up towards Bitcoin and other cryptos with Institutional investors looking positive for the markets to recover as inflows into crypto markets continued to rise with nearly $16 million flowing into Bitcoin alone in the past week,” said analysts at the WazirX trade desk.
“On the daily time-frame, the trend for BTC is re-testing the triangle pattern at the breakout levels. The next key resistance level for BTC is expected at $32,300 and an immediate support is expected at $19,000.,” they added.
“Bitcoin continued to fall on Tuesday against the increasing volume and selling pressure. It is likely that bears might test the US$20,000 zone soon. On the other hand, there are also chances that investors might push BTC a bit up, perceiving it as a lower-risk asset than others ahead of the FOMC meeting,” noted Edul Patel.
Ethereum price today at the time of writing this article was giving a value of $1,448.88, up by 1.89 per cent over the last 24 hours. Over the past seven days, Ether has shed 7.87 per cent of its value.
“ETH (Ethereum) weakened against Bitcoin in the last few days as the overall crypto markets corrected a bit. The daily chart for ETH-BTC continues to traverse within a descending triangle pattern making lower highs as another downtrend is anticipated after a bounce-off from the pattern resistance level. The next key support for ETH-BTC is expected at 0.049,” said the WazirX analysts.
Here are the top 10 cryptocurrencies and their prices on July 27 2022, Wednesday, (According to data from coinmarketcap.com)
Bitcoin $21,210.92 or 0.41 per cent gain in the last 24 hours
Ethereum $1,448.88 or 1.89 per cent gain in the last 24 hours
Tether $1.00 or 0.00 per cent gain in the last 24 hours
USD Coin $1.00 or 0.03 per cent gain in the last 24 hours
BNB $253.02 or 4.15 per cent gain in the last 24 hours
Binance USD $1.00 or 0.21 per cent gain in the last 24 hours
XRP $0.334 or 0.23 per cent gain in the last 24 hours
Cardano $0.6446 or 0.35 per cent loss in the last 24 hours
Solana $36.77 or 3.12 per cent gain in the last 24 hours
Dogecoin $0.06266 or 1.74 per cent gain in the last 24 hours