Bitcoin Price Increases 1% to Near $23,200, Altcoins Struggling to Follow

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,

1. “Bitcoin Price Outlook for February – Market Updates Bitcoin News” Bitcoin News, 10 Feb. 2023,

2. “Bitcoin, Ether testify to small gains, Stablecoins stumble with dips” know news, 8 Feb. 2023,

3. “Crypto Prices Today: Bitcoin Dips 0.66%, Ethereum Down 5.16%, Dogecoin Falls 6.89%” Outlook India, 11 Feb. 2023,–news-261307

4. “Bitcoin and Ether Tumble as Regulatory Storm Clouds Gather Around Crypto” Barron’s, 10 Feb. 2023,

5. “Uniswap leads drops as largest cryptocurrencies start mixed” msnNOW, 6 Feb. 2023,

6. “Most big cryptocurrencies decline as Litecoin declines” MarketWatch, 9 Feb. 2023,

7. “Bitcoin monthly chart flashes buy signal; Is BTC exiting bear market?” Finbold – Finance in Bold, 9 Feb. 2023,