On Tuesday, bitcoin surged again above $38,000 on hopes that, should inflation continue to drop, the US central bank would be getting closer to cutting borrowing costs.

Before reducing the gain, the largest cryptocurrency by market value increased by as much as 3.3% to $38,264. On Friday, the price of bitcoin hit an 18-month high of $38,422. In general, investors are more willing to take on riskier assets like digital tokens when interest rates are lower.

Investors may turn back to riskier assets when rates rise in an effort to obtain higher returns, according to Michael Safai, a partner at the quantitative trading company Dexterity Capital. Together with the impetus that cryptocurrency has gathered in recent months thanks to ETFs and the removal of FTX from the picture, traders believe that the ingredients are in place for a new bull run.

A recent slowdown in economic activity has encouraged Federal Reserve Governor Christopher Waller, who believes this suggests the central bank’s policy is tight enough. During a scheduled speech on Tuesday at the American Enterprise Institute in Washington, he made the remarks.

Due to anticipation that the US Securities and Exchange Commission would soon authorise an exchange-traded fund (ETF) that will make direct investments in bitcoin, the price of bitcoin has increased by more than 40% since the beginning of October. This year, Bitcoin has increased by almost 130%, following a 64% decline in 2022.

Additionally, the confidence has contributed to the rise in “crypto stocks,” like ETF proxy MicroStategy Inc., exchange operator Coinbase Global Inc., and miner Marathon Digital Holdings Inc. This year, the stocks of all three have increased by about 250%.

Key cryptocurrency tokens saw mixed trading on Monday, with Tron (2%), Toncoin (1.6%), Polygon 7.1%), Avalanche (3.5%), and Polkadot trading in the green and Bitcoin (-0.9%), Ethereum (-1.2%), BNB (-2.1%), XRP (-1.8%), Solana (-2.5%), and Chainlink (-5.5%) trading in the red.

In the meantime, over the past day, the value of the worldwide cryptocurrency market dropped by 0.43% to approximately $1.41 trillion.

At $36,933, BTC was down 0.9% on the market. The largest cryptocurrency in the world, Bitcoin, had a fall in market capitalization to $721 billion in the past day.

Currently, 51.20% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 0.6% to $13.04 billion in the previous day.

Over the weekend, Bitcoin continued to trade above $37,000, logging its fourth straight week of gains. Investors are bullish about spot ETFs after a 40% spike in recent weeks and a 6% increase in the last seven days. Now, attention is focused on the $40,000 mark.

Conversely, Ethereum is still above $2,000 thanks to Blackrock’s spot ETF registration, which is encouraging smart contract ecosystems. The fact that ETH encounters resistance at $2,500 and support around $1,900 adds to the general optimism in the market.

On Friday, major cryptocurrencies saw uneven trading as the value of the dollar declined. At $37,198.42, Bitcoin (BTC) was up 1.84%. Around 10.15 IST, prominent cryptocurrency currencies including as Dogecoin, Cardano, Solana, XRP, BNB, and Ethereum (ETH) saw increases ranging from 1% to 3.70%.

Over the last week, Bitcoin has increased by 0.80%, while Solana Dogecoin and Cardano have increased by roughly 4%, 2%, and 5%, respectively. On a weekly basis, XRP (-4.6%), Ethereum (-1.83%), and Tron (-5%) are the losers.

The US dollar has an inverse relationship with cryptocurrencies. At 103.61, the dollar index was down 0.30, or 0.29%.

The cause of cryptocurrencies has been aided by the dollar index (DXY), which fell to a two-month low and corrected by 1.9% over the last five sessions. The US inflation rate for October was lower than expected by the Street, which has contributed to the weakening. This has provided new momentum to those advocating for an interest rate pause. The Federal Reserve can decide not to raise interest rates any more as a result of the lower inflation figure.

With a notable hurdle around $38,000, bitcoin is currently trading cautiously upward at $37,100. Sustaining levels at $35,835, $35,235, and $34,522 indicate possible downward stabilisation points. Technical indicators provide a mixed but marginally optimistic picture, with the RSI at 51 suggesting a neutral attitude. There is a short-term bullish trend supported by the 50-day EMA at $36,400. A small ascending channel can be seen in the chart analysis, suggesting that the positive momentum may continue.

The expert prefers positive trends above $36,400, but caution is advised and immediate resistance is given weight for both short-term swings and possible moves in the days ahead.

BTC (+2.2%) had a sharp increase on this account, followed by a correction at $37.2k levels. With resistance at $38,000, the range of support is observed between $33,000 and $34.500.

Regarding institutional adoption, Chaturvedi noted that Fidelity is the most recent financial company to join rival BlackRock and five other firms in attempting to establish an Ethereum exchange-traded fund (ETF). He further stated that the arrival of major players in the industry like Fidelity is encouraging.

Regarding institutional adoption, Chaturvedi noted that Fidelity is the most recent financial company to join rival BlackRock and five other firms in attempting to establish an Ethereum exchange-traded fund (ETF). He further stated that the arrival of major players in the industry like Fidelity is encouraging.

Major cryptocurrencies saw gains in Thursday’s trading as market confidence that the Federal Reserve is done raising interest rates was bolstered by new inflation data.

In the meantime, US retail sales declined in October following many months of robust increases, suggesting a weakening economy and reinforcing views that the Fed will stop raising rates.

The price of Bitcoin was up 5.2% at $37,415, while Ethereum, the second-most popular currency, was up 3.6% at $2,054. The value of the world’s cryptocurrency market increased by 4.8% in the previous day to approximately $1.43 trillion at the same time.

Following a significant liquidation of leveraged positions totaling close to $100 million for the day, Bitcoin (BTC) is up 5%, trading around $37,700. The Federal Reserve’s easing cycle narrative is being supported by US inflation and retail statistics, which is driving the market recovery along with aggressive purchasing and macroeconomic fundamentals.

Over the course of the last day, Bitcoin has increased by more than 5%, trading at almost $37,500. This rise continues despite the US SEC not providing any updates on applications for Bitcoin Spot ETFs.”

Popular altcoins like Avalanche and Solana saw increases of 13% and 25%, respectively. Moreover, XRP, Cardano, Dogecoin, Toncoin, BNB, and Polkadot all saw 2-6% increases.

The largest cryptocurrency in the world, Bitcoin, saw a rise in market capitalization to $730 billion in the past day. Currently, 51.06% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased 21.76% to $28.3 billion in the last day.

With success, Bitcoin has maintained its $35,000 level of support and is moving closer to $38,000. In the next weeks, $40,000 becomes a possibility if this threshold is crossed. Many altcoins have the potential to catch up and push the entire market capitalization of cryptocurrencies towards $1.5 trillion if Bitcoin stays in its current range of prices.

In Wednesday’s trade, there was a mixed but mostly bullish movement in the crypto tokens. Ethereum, XRP, BNB, Cardano, Dogecoin, and Polkadot were trading in the red, while Bitcoin, Solana, Toncoin, and Polygon were trading in the green.

At 12:05 p.m., Bitcoin was up 1.12% at $35,308, while Ethereum was down below $1,900.

Toncoin and Solana, two more well-known altcoins, increased by 9%. Polkadot plummeted 8%, and BNB dipped 2.4%.

While altcoins like Solana and Toncoin have increased by more than 6% and 11%, respectively, Bitcoin is currently trading close to $35,300. The value of the entire cryptocurrency market has increased to a 16-month high of 1.34 trillion dollars as a result of the current price activity. Bitcoin needs to break through the $35,700 barrier in order to keep gaining momentum; if not, it might find support at $34,200.

Due to the increases shown by altcoins, the present market attitude is neutral with a positive bias, according to Edul.

In the past day, the total value of the cryptocurrency market rose by 0.18% to over $1.33 trillion.

The largest cryptocurrency in the world, Bitcoin, saw a spike in market capitalization to $689 billion in the past day. Currently, 51.75% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 43.07% to $18.66 billion in the last day.

While exhibiting some upside and testing the $36k threshold, Bitcoin stuck to its narrow range until once more finding support at $35k. Should Bitcoin reach $36,000, it would be an 18-month peak.

Current patterns in the Bitcoin market point to a consolidation phase, with day traders paying particular attention to a critical level near $34,990. In recent trade, the immediate resistance is located at approximately $35,360, which presents a challenge. Traders may aim for resistances at $36,051 and $37,018 if this level is broken. On the plus side, the first support is located around $34,693, and subsequent support levels at $33,281 and $32,481 may be reached if negative momentum persists.

Major cryptocurrency tokens saw increases in trading on Tuesday as the market was encouraged by optimism and bullish sentiments. In the past day, the value of the worldwide cryptocurrency market cap increased by almost 1% to approximately $1.33 trillion.

At 12:10 p.m., Bitcoin was up 0.16% at $34,930, while Ethereum was barely above $1,900.

A rise of more than 6% was seen in several well-known altcoins, such as Dogecoin and Toncoin. Litecoin, Cardano, Solana, Polygon, Polkadot, and BNB all saw increases.

As a result of Ripple’s involvement in notable projects, such as the recently announced CBDC pilot in Georgia and its inclusion in Dubai’s virtual asset regime, XRP increased by 3%.

Between $34,800 and $35,200, there is a narrow area in which bitcoin is consolidating. This suggests that investors are eagerly awaiting the market’s next significant move, either forward or downward. For Bitcoin to be able to continue rising in the coming weeks, it must maintain its support at $34,200.

At $4.89 billion, the overall volume in DeFi represents 11.98% of the 24-hour volume in the cryptocurrency market. At $36.08 billion, the total value of all stablecoins represents 88.44% of the 24-hour volume of the cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, saw a 682 billion increase in market capitalization in the last day. Currently, 51.45% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 4.01% to $13.02 billion in the previous day.

With small daily fluctuations, Bitcoin is currently trading at $34,918 in the current trading environment, with a pivotal point around $34,662. It encounters immediate resistance at $35,352, which might lead to higher goals like $36,834 and $37,722. Support levels at $34,112 provide support, and if necessary, there are more cushions at $33,425 and $32,432.

Quick analysis of the cryptocurrency pricing on November 7: The worldwide market capitalization increased to $1.32 trillion.

Bitcoin (BTC) reclaimed the $35,000 milestone early Monday, reversing a small drop following the conviction of embattled crypto platform FTX creator Sam Bankman-Fried for money laundering. According to CoinMarketCap, the total market’s Fear & Greed Index was 73 (greed). Popular altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC), all finished in the green. MultiversX (EGLD) was the highest gainer of the day, gaining more than 37% in a single day. GateToken (GT), on the other hand, became the biggest loser, losing more over 1% in a 24-hour period.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $35,032.16, representing a 0.81 percent decline in a 24-hour period. According to the Indian exchange WazirX, the price of Bitcoin was Rs 30 lakh.

Ethereum Price Today
At the time of writing, the price of ETH was $1,887.45, representing a 0.20 percent 24-hour increase. According to WazirX, the current price of Ethereum in India is Rs 1.62 lakh.

Dogecoin Price Today
DOGE gained 2.80 percent in a 24-hour period, according to CoinMarketCap data, and is currently trading at $0.07185. According to WazirX, the Dogecoin price in India is Rs 6.11.

Litecoin Price Today
Litecoin gained 0.49 percent in a 24-hour period. It was trading at $71.85 at the time of writing. In India, the price of LTC was Rs 6,128.86.

Ripple Price Today
The price of XRP was $0.683, representing a 9.35 percent gain in a 24-hour period. According to WazirX, the current price of Ripple is Rs 59.04.

Solana Price Today
Solana was trading at $41.19, down 3.46 percent in 24 hours. According to WazirX, the SOL price in India is Rs 3,508.86.

In Monday’s trade, there was a mixed bag of unfavourable sentiment surrounding the crypto coins. XRP, BNB, Cardano, Dogecoin, Polygon, and Toncoin were trading in the green, while Bitcoin, Ethereum, Solana, Polkadot, and Tron were trading in the red.

In the meantime, the value of the world’s cryptocurrency market fell by 0.14% to approximately $1.32 trillion over the previous day.

Bitcoin was down 0.6% at $34,915, while Ethereum was trading below $1,900. Over 9% jumped in XRP.

In the last day, the price of Bitcoin has been circling around $35,000. This volatility can be explained by traders selling their Bitcoin gains and reinvesting the proceeds in altcoins. An additional possible contributing reason would be the United States’ announcement of a 150,000 job increase in October, which was less than the 180,000 economists had forecast and a decrease from the 297,000 jobs reported in September.

Meanwhile, the US Federal Reserve’s rate hold has spurred a rally in key cryptocurrency tokens during the past week. Ethereum increased by 5%, whereas Bitcoin increased by over 2%. Over 17% was gained by XRP, Solana, and Cardano.

The crypto fear and greed index increased 4 points from yesterday to be within the greed zone with a score of 74/100, indicating that investor mood has improved following the recent rally from last week. Although the current price surge may appear fleeting, market watchers are observing indications of long-term demand fueling the cryptocurrency upswing.

Currently, DeFi’s total volume is $4.31 billion, or 11.28% of the 24-hour volume of the entire cryptocurrency market. At $32.74 billion, the total value of stablecoins represents 85.76% of the 24-hour volume of the cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, had a fall in market capitalization to $682 billion in the past day. Currently, 51.8% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 29% to $12.4 billion in the last day.

The dominance of BTC decreased by more than 1.5%, suggesting chances for altcoins to flourish. Support has also been discovered for ETH dominance, which may indicate a resurgence.

Significant cryptocurrency tokens saw a decrease in Thursday’s trading as a result of the multibillion dollar FTX fraud conviction of crypto billionaire and former FTX creator Sam Bankman-Fried.

Sam Bankman-Fried, the former cryptocurrency “golden boy” who was charged by US prosecutors with embezzling billions of dollars from his clients, was found guilty on all counts on Thursday and could now spend up to 110 years in prison.

In barely five hours, the jury in New York made a decision after a five-week trial. The individual often referred to as “SBF” will be sentenced at a later time.

In the meantime, the development caused the value of the world’s cryptocurrency market to drop by 1.8% in the previous day to $1.28 trillion.

At approximately 1.25 p.m., Ethereum, the largest peer, was trading at $1,796, down 2%, while Bitcoin was down 2.5 percent at $34,389 as of this writing.

Right now, the majority of the top 20 cryptocurrencies according to MCap are down. Before reversing course and trading back over $34.5k, Bitcoin was on the verge of crossing the $36k threshold. Many investors think that Sam Bankman-Fried’s guilty judgement in the FTX fraud trial may be the reason for this.

As a result of some traders locking in profits following the October upturn, the price of bitcoin is currently above $34,400. In order for Bitcoin to resume its upward trajectory, it needs to cross the $35,000 barrier or perhaps find support around $34,300. As investors await the release of the US Non-farm Payroll report later today, market mood is now neutral.

Solana fell almost 10%, making it the biggest laggard among other popular cryptocurrency currencies. There was a 1-3% fall in Dogecoin, Tron, Polkadot, XRP, and Shiba Inu.

The market capitalization of Bitcoin, the biggest cryptocurrency in the world, dropped to $671 billion over the previous day. 52.6% of the market is presently dominated by bitcoin, according to CoinMarketCap. The volume of Bitcoin fell 24.6% to $19.2 billion in the last day.

Bitcoin remained stable at $35,500 while traders awaited the release of the US NFP report for October. For market players, the Nonfarm Payrolls data is crucial since it has a big impact on traders’ opinions of whether the US central bank would hold interest rates higher for longer or possibly raise them further.

With the release of the US NFP statistics soon, bitcoin traders anticipate a tumultuous market.

For market participants to predict the trajectory of Bitcoin’s price movement, the US NFP announcement is crucial. Recent macroeconomic events have caused volatility in Bitcoin (BTC); the US Federal Reserve’s decision to maintain interest rates unchanged helped to fuel the price surge of BTC. Bitcoin remained stable at $35,500 on Binance.

The US Federal Reserve has consistently said that data is used to inform interest rate increases. This suggests that the decision to raise interest rates before the end of 2023 or to maintain them higher for an extended period of time may be influenced by the Nonfarm Payrolls data.

The US economy is expected to have added 180,000 nonfarm payrolls in October, according to market expectations. The September report showed 336,000 new jobs, almost twice as many as the market had predicted.

In the event that the October NFP release contains an upward shock, the price of bitcoin may retreat. Given that investor sentiment in October was mostly influenced by the prospect of a spot Bitcoin ETF clearance by the US Securities and Exchange Commission (SEC), traders should anticipate that BTC will rebound from the correction in the near future.

Bitcoin Price
If the jobs report comes in better than expected, the price of bitcoin is probably going to fluctuate downward. The 10-day Exponential Moving Average (EMA) around $34,028 is expected to be a support level for the price of bitcoin, as can be seen in the BTC/USDT price chart below. Bitcoin might rise over this point and continue to rise.

Once the price of Bitcoin starts to rise again, the commodity is anticipated to encounter resistance at the lower bound of the Fair Value Gap (FVG), which is located between $36,671 and $37,670.