Cryptocurrency price today: The global cryptocurrency market declined slightly on Saturday, July 30 as the US economy declined for two straight quarters, a classic definition of approaching a recession. Although the Fear and Greed Index posted its best reading since April on Friday, investors are expected to be on their toes, which in turn will impact the market. Minor losses from Bitcoin, Ethereum, Dogecoin, Shiba Inu Solana and other major cryptocurrencies pushed global markets into the red early Saturday. At the time of writing, the crypto market cap is up $1.10 trillion, down 1.09 percent over the past 24 hours.
“The global crypto market has been on a bullish trajectory with slight corrections since the start of the week. Bitcoin, Ethereum and most cryptocurrencies are up over the past seven days. Despite the Fed’s recent rate hike, most cryptos kept their gains,” said Edul Patel, CEO and co-founder of Mudrex.
“The crypto market is witnessing a mini-rally, with heavyweights like Bitcoin and Ethereum posting their best recent performances. It is important to note that bears can dominate Friday’s $1.76 billion monthly bitcoin options expiration as bitcoin failed to break the $24,000 resistance level,” Tarusha added Mittal, COO and co-founder of UniFarm.
Bitcoin continued its downtrend on Saturday for the second straight day after a two-day rally, but remained largely unchanged. Bitcoin price today was $23,798.19 at the time of writing, down 0.84 percent from the past day, according to data from CoinMarketCap. On a weekly basis, Bitcoin gained 4 percent.
“Bitcoin started the week trading at $22,000 and hit $24,000 for the first time this month on Thursday. However, later in the day it rebounded to its consolidation point at $23,000. If BTC continues this relief rally, it could soon trade at the $25,000 level in the coming week,” Patel told News18.com.
Ethereum was also slightly in the red on Saturday but held the $1,700 mark. Ether price today is $1,714.98 at the time of writing, down 1.12% in the last 24 hours.
“Ethereum surged nearly 5 percent over the past week, gathering strength to make another move. This trend shows how strong buyers are in the market. Overall, the market appears to have turned away from the impact of the bear market,” noted Patel.
Here are the top 10 cryptocurrencies and their prices on Saturday, July 30, 2022 (according to data from coinmarketcap.com)
Bitcoin $23,798.19 or 0.84 percent loss in the last 24 hours
Ethereum $1,714.98 or 1.12 percent loss in the last 24 hours
Tether $1.00 or 0.01 percent gain in the last 24 hours
USD Coin $0.9998 or 0.01 percent gain in the last 24 hours
BNB $290.71 or 3.26 percent gain in the last 24 hours
Binance USD 1.00 or 0.16 percent gain in the last 24 hours
XRP $0.3682 or 2.57 percent loss in the last 24 hours
Cardano $0.5189 or 3.50 percent loss in the last 24 hours
Solana $42.11 or 4.74 percent loss in the last 24 hours
Dogecoin $0.06915 or 3.90 percent loss in the last 24 hours
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