Cryptocurrency Update: The global cryptocurrency market suffered a hit of 4.89 percent in the last 24 hours on Friday, April 1, after going up for several days amid gains among major crypto coins. According to data from global crypto tracking platform CoinMarketCap, the global crypto market cap stood at $2.06 trillion.
Bitcoin The day also suffered a loss of 4.62 per cent. At the time of writing this article, the price of one unit of bitcoin was $45,258.93 according to the data. Bitcoin gained 0.97 per cent on a weekly basis.
“Bitcoin fell below $45,000 after a consolidation phase from $47,000 to $48,000. Trading volume indicates that there was a significant selloff as traders tried to book profits at this level. The RSI accompanied this selloff. Dropped to around 55,” WazirX Trade Desk said.
“The daily trend for BTC is trending within an ascending channel pattern. We may see buying momentum soon due to reduction in profit booking volume. Next resistance for BTC is expected at $48,600.”
Ethereum Prices also declined sharply during the day. At the time of writing this article, one coin of the world’s second most popular cryptocurrency, Ethereum, stood at $3,312.55. It was 3.55 per cent lower in the last 24 hours.
“Ethereum has gained further momentum against Bitcoin over the past few days, with a slight correction in bitcoin price. The daily chart of ETH-BTC is on the verge of a channel pattern breakout. We can expect money to move to Altcoins And may see the start of Altcoin season. The next resistance for ETH-BTC is expected at 0.075 and immediate support is expected at 0.0653,” WazirX said.
According to Darshan Bathija, CEO and co-founder of Wald, “There are certain investment themes that investors are more positive towards. For example, the alternative layer-1 theme is strong as Solana’s SOL and Terra’s Luna have not fallen as sharply as BTC and ETH.”
“On the other hand, we have seen a lot of interest in decentralized finance (DeFi) over the past few weeks, with the old guard of DeFi tokens (AAVE, UNI, COMP, and so on) outperforming ETH over the past few weeks. Taking a slightly longer approach, bitcoin is back where it was a week ago.”
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
dotmoves: $0.06072 – up to 183.70 percent
Digital Fitness: $0.3485 – up to 149.00 percent
Animal Concerts: $0.01348 – up to 88.18 percent
All Games: $0.00399 – up to 67.00 percent
Virtual: $1.16 – up to 64.13 percent
Vita Inu: $0.00000004269 – up to 60.57 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
GeoJam Token: $0.01923 – down 67.69 percent
MoonDAO: $0.04919 – down 36.11 percent
Futurex Crypto: $0.9464 – down 34.33 percent
Silva Token: $0.0000000007202 – 33.41 percent drop
Volcano: $0.1282 – 32.53 percent drop
Metis: $0.01093 – down 26.91 percent
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