The price of Bitcoin has gained 1% over the past 24 hours to near $23,200, a price level around which it has been changing hands for much of the past few weeks. The largest digital asset has gained some 40% since the start of the year, marching back from near two-year lows notched after the collapse of crypto exchange FTX in November to trade around the highest levels since last summer.[0] Bitcoin Coinbase Exchange Reserve Has Risen Recently.[1]
Most cryptocurrencies saw small gains on the price chart on Wednesday, February 8.[2] Bitcoin experienced an increase of 1.62 percent, bringing its price to $23,260 (approximately Rs. 19.2 lakh). The crypto asset exhibited a similar trend across multiple global trading platforms, including CoinMarketCap and Binance.[2] Over the course of the last day, the oldest digital currency has gained $396 (approximately Rs. 32,730).[2] In recent days, Bitcoin’s price range experienced a decrease of 2.77%.[3] It has been observed by specialists that the resistance level of BTC is around $23,150 (approx. 19.1 lakh Rupees).[2]
Ether, the second-largest crypto that is in the spotlight amid the SEC’s actions, was weaker, dropping 1.00% to $1,636.23.[4] Uniswap experienced a 0.62% decrease, settling at $6.78[5] Ripple experienced the least growth, increasing 0.04% to 40 cents.[5]
The Amplify Transformational Data Sharing ETF, which focuses on blockchain technology, dropped by 1.12% to $19.51 in the fund space.[5] The Bitwise Crypto Industry Innovators ETF, centered on pure-play crypto companies, experienced a decrease of 1.50% and is now at $5.97.[6] The Grayscale Bitcoin Trust, which follows the Bitcoin market price, experienced a 4.72% decrease and is now at $12.32.[7]
Over the course of the last 24 hours, the cryptocurrency market saw a total volume of $52.26 billion, representing a decrease of 29.86%. In the last 24 hours, the crypto market capitalization dropped by 1.2% to a total of US$1.07 trillion, while total trading volume decreased by 3% to US$58.69 billion.
0. “The Rally in Bitcoin’s Price Can Last. Traders Appear More Bullish Than Ever.” Barron’s, 8 Feb. 2023, https://www.barrons.com/articles/bitcoin-ethereum-price-crypto-markets-today-51675852043
1. “Bitcoin Price Outlook for February – Market Updates Bitcoin News” Bitcoin News, 10 Feb. 2023, https://news.bitcoin.com/bitcoin-price-outlook-for-february/
2. “Bitcoin, Ether testify to small gains, Stablecoins stumble with dips” know news, 8 Feb. 2023, https://knownews.in/tech/bitcoin-ether-testify-to-small-gains-stablecoins-stumble-with-dips/
3. “Crypto Prices Today: Bitcoin Dips 0.66%, Ethereum Down 5.16%, Dogecoin Falls 6.89%” Outlook India, 11 Feb. 2023, https://www.outlookindia.com/business/crypto-prices-today-bitcoin-dips-0-66-ethereum-down-5-16-dogecoin-falls-6-89–news-261307
4. “Bitcoin and Ether Tumble as Regulatory Storm Clouds Gather Around Crypto” Barron’s, 10 Feb. 2023, https://www.barrons.com/articles/bitcoin-ether-crypto-markets-today-8f96749e
5. “Uniswap leads drops as largest cryptocurrencies start mixed” msnNOW, 6 Feb. 2023, https://www.msn.com/en-us/money/markets/uniswap-leads-drops-as-largest-cryptocurrencies-start-mixed/ar-AA17axJs
6. “Most big cryptocurrencies decline as Litecoin declines” MarketWatch, 9 Feb. 2023, https://www.marketwatch.com/story/most-big-cryptocurrencies-decline-as-litecoin-declines-01675954854-dc95e0b90db6
7. “Bitcoin monthly chart flashes buy signal; Is BTC exiting bear market?” Finbold – Finance in Bold, 9 Feb. 2023, https://finbold.com/bitcoin-monthly-chart-flashes-buy-signal-is-btc-exiting-bear-market