© Business Today Cryptocurrency price today. Bitcoin returns to $27,000; Tron, Dogecoin, Polygon receive up to 7% eachBitcoin and other leading cryptocurrencies rose on Tuesday as investors assessed the latest developments in the US debt ceiling crisis. The digital asset market is volatile amid macroeconomic uncertainty that favors the short term.
Bitcoin returned to the green on Tuesday as the largest cryptocurrency jumped nearly 3 percent to $27,000. Its biggest competitor, Ethereum, is up nearly 4 percent above $1,850. Other altcoins also traded higher.
Cryptocurrency markets tumbled as total market capitalization remained at $1.12 trillion ahead of US President Joe Biden's debt ceiling speech earlier in the day. Bitcoin has mostly been in a consolidation phase over the past month, gaining just 2 percent. It has declined in percentage terms, but still managed to maintain its value,” said the CoinDCX research team.
“On the positive side, the rise of Bitcoin’s social dominance, which is usually a sign of market fear, increases the likelihood of a comeback. Moreover, once the price of Bitcoin drops below $27,000, high discussions are seen as a positive sign of potential bad luck,” he said.
All major crypto tokens, including Stablecoin, traded on Tuesday. Tron added 7 percent, followed by Shiba Inu, Polygon and Avalanche, each with 5 percent. Other altcoins including Cardano, Dogecoin, BNB, Polkadot and Solana are up 3% on the day.
The value of the global cryptocurrency market has skyrocketed, climbing more than 2 percent to $1.14 trillion in the past 24 hours. However, total transactions rose 30 percent to $27.64 billion.
Cryptocurrency markets have been trading slightly higher over the past 24 hours. The crypto fear and greed index remains at 50 with 1 point in the neutral zone. Investor sentiment remains cautious after the US debt ceiling debate, says Part Chaturvedi, chief investment officer at CoinSwitch Ventures.
“In other news, a new report from TRM Labs highlights the downward trend in crypto hacks. The report shows a 70% decrease in hacks since the first quarter of 2022, while the average size of breaches has decreased.” rewarded with operational projects,” he added.
© Presented by Business TodayWazirX Trading Desk Technical Review
Conflux (CFX) is a layer 1 blockchain specifically designed to support decentralized applications (dApps), e-commerce, and Web 3.0 infrastructure. The goal is to outperform existing protocols by improving, decentralizing and maintaining security.
© Presented by Business TodayOn a daily basis, the CFX/USDT chart has been in a steady downtrend since April 23rd. However, a triangle has formed on the chart with a trend on the edge of a breakout. We can expect a 10% upside from the downside levels and the current price could be a good opportunity to open a buy position. Immediate support is expected at 0.245 USDT and next resistance is expected at 0.345 USDT.
(The views and recommendations in this section are those of analysts and do not reflect the views of Business Today. Please consult your financial advisor before taking any position in the property/house listed.)
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