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On Monday, the cryptocurrency market was mixed, with gains for Dogecoin, Ethereum, and Cardano outweighing losses for Bitcoin, Solana, and Litecoin.
Bitcoin fell 0.61% and remained below $22,800, while Ethereum remained comfortably above $1,600. BTC volume in the last 24 hours was approximately $23.78 billion, a decrease of 27.58%.
The cryptocurrency market had an exciting weekend, with BTC breaking through the $23,000 barrier for the first time in 5 months. Institutional investors are increasing their holdings of BTC in anticipation of the next bull run, which is driving demand. This month, Bitcoin has risen by more than 36%, creating an extremely bullish sentiment surrounding the world largest digital asset. The upcoming Fed meeting next month may be the next watershed moment in the cryptocurrency market According to Shivam Thakral, CEO of BuyUcoin.
The global cryptocurrency market capitalization was trading around $1.04 trillion, up 0.32% in the last 24 hours.
The total volume in DeFi is currently $5.14 billion, accounting for 9.88% of the total 24-hour volume in the crypto market. The total volume of all stablecoins is now $45.82 billion, accounting for 88.06% of the total 24-hour volume of the crypto market.
According to CoinMarketCap, the market cap of Bitcoin, the world largest cryptocurrency, was hovering around $438 billion, with a dominance of about 41.96%, a 0.37% decrease over the day.
BTC rose above $22,900, recovering from a recent drop toward $20,000. BTC, on the other hand, is currently trading at $22,722, a slight decrease. The current support level is $22,700, and the resistance level is $22,900. If Bitcoin maintains its current momentum, it could reach $23,000.
Note: Price change in last 24 hours