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Jul 25,2023

Bitcoin falls below $29,800; Tron and XRP drop up to 3%

The cryptocurrency markets were trading down on Monday, as the FOMC interest rate decision loomed this week.

Bitcoin (BTC) fell 0.42% to $29,793, while Ethereum (ETH) fell below $1,900. BTC volume was around $10 billion, up 22.28% in the last 24 hours.

Bitcoin is currently trading about $29780, much below the $30000 level. Bitcoin's price did not climb by $300,000 over the weekend. This latest price drop could be attributed to the US SEC chair expressing unhappiness with the case's result and increasing selling pressure.

Other popular cryptocurrency tokens were also selling lower. XRP, BNB, Cardano, Dogecoin, and Solana were all down in price. The worldwide cryptocurrency market cap was trading lower, about $1.19 trillion, having dropped 0.49% in the previous 24 hours.

DeFi's total volume is currently $2.41 billion, accounting for 9.91% of the overall crypto market 24-hour volume. The total volume of all stablecoins is now $21.26 billion, accounting for 87.44% of the total 24-hour volume of the crypto market.

Bitcoin, the world's largest cryptocurrency, had a market valuation of roughly $578 billion. According to CoinMarketCap, Bitcoin's dominance is currently 48.58%, up 0.04% from the previous day.

Bitcoin has struggled to break over the $31,000 resistance level, while also finding support near the $29,500 level. The lack of a decisive breakout implies that the price is in a consolidation phase, bouncing within a range.

Bitcoin price has also been hanging below the 20-day exponential moving average ($30,036), which acts as a short-term resistance mark. Bitcoin faces significant resistance at $32,500, while $28,500 serves as strong support.

Cryptocurrency Price Today

Bitcoin Price Today $29,787

Ethereum Price Today $1,870

Tether Price Today $1

BNB Price Today $241

XRP Price Today $0.7263

Cardano Price Today $0.3132

Dogecoin Price Today $0.0713

Solana Price Today $24.4

Polygon Price Today $0.7415

Litecoin Price Today $92.39

Polkadot Price Today $5.34