Important Points:

  • The overall market capitalization of cryptocurrencies drops to $2.041 trillion as XRP loses 3.40% in the midst of a wider sell-off.
  • Talk of an appeal in the SEC v. Ripple case is heating up; this could effect the stability of the price of XRP.
  • The SEC’s decision to file an appeal will determine how much XRP will cost; in the upcoming weeks, volatility is predicted.

XRP Falls During a Cryptocurrency Sell-Off

After dropping 2.20% the day before, XRP fell 3.40% on Tuesday, August 27, finishing at $0.5674. XRP tracked the overall decline in the cryptocurrency market, which experienced a 5.30 percent decline in market capitalization to $2.041 trillion.

Better than anticipated Investor expectations on repeated 2024 Fed rate cuts were put to the test by US economic data, which sparked a widespread sell-off in cryptocurrencies. On Tuesday, investor sentiment was impacted by US consumer confidence. Investor concerns about a hard US landing and the necessity of swift Fed rate cuts to support the economy were probably allayed by an unanticipated surge in confidence.

SEC vs. Ripple: Talk of an appeal heats up ahead of the SEC closed meeting

It has been three weeks since August 7th, when Judge Analisa Torres rendered the final decision in the SEC vs. Ripple case. Regarding whether or not to file an appeal, the SEC has not said anything.

Pro-crypto attorney Fred Rispoli reopened the appeals debate on Tuesday by posing the question,

“Can any securities lawyers provide me with an answer on the likelihood of an SEC vs. Ripple appeal? If Ripple prevails on all fronts against the SEC, would the SEC be required to pay statutory interest on it as well?”

James Farrell, general counsel at AscendEX and a former member of the SEC,

Saying that typically Ripple would post a bond securing the decision and delay payment while an appeal was pending. The cost of the bond would normally be assessed against the SEC in the event of a loss as part of the appeal’s costs under FRAP 39 (at the 2d Circuit is discretion, just like any bill of costs).”

Farrell continued,

Even more complicated if the Second Circuit remands for a new trial—for instance, if it determines that certain factual concerns should have prevented the award of summary judgment. All of this presupposes a cross-appeal. Because if Ripple does not file a cross-appeal, it is essentially admitting that it owes $125 million and that the appeals court is powerless to address matters that are not before it.”

Farrell’s remark emphasized the danger the SEC would run if it decides to appeal the Ripple case’s decisions. The decision that Ripple sold unregistered XRP in violation of US securities laws may be contested by a cross-appeal filed by Ripple. A cross-appeal might undermine the SEC’s regulatory strategy by creating a precedent for XRP sales.

A SEC Appeal Could Happen Soon?

On Thursday, August 29, the SEC will have a secret meeting where the Ripple matter may come up for discussion. An appeal might compel Ripple to file a cross-appeal and drag out the litigation until 2025.

Early October is when the 60-day appeal deadline finishes, therefore the appeals process will go on even after the US presidential election. It might be necessary for the SEC to think about the potential effects of an administration change.

The Future of XRP Price Depends on SEC Action

The SEC’s preparations for an appeal will determine price movements. The SEC’s appeal might cause XRP to drop below $0.40. On the other hand, if the SEC decides not to appeal the case’s decisions, XRP may aim to recover to $1.00. The July 2023 Programmatic Sales of XRP judgment caused XRP to spike from $0.4696 to a high of $0.9327.

Investors should be on the lookout because news about appeals will probably affect XRP price movements. Keep yourself informed about XRP and the wider cryptocurrency industry by following our most recent news and analysis.

Price Action of XRP

Every Day Schedule

Bullish price indications were sent by XRP as it stayed above the 200-day and 50-day moving averages.

A bounce back to $0.6000 might be supported by a breakout from the 50-day EMA. Moreover, a bounce back to $0.60 would portend a move up toward the resistance level at $0.6609 and the high of $0.6434 on August 7.

Updates pertaining to SEC vs. crypto cases and SEC activity should be taken into account.

On the other hand, a decline beneath the 200-day and 50-day EMsA would indicate a positive trend reversal and a potential decline below $0.50.

At 46.54 on the 14-day RSI, XRP might drop below $0.50 before going into oversold territory.

At the moment, India’s regulations surrounding cryptocurrencies are mostly focused on counterterrorism financing (CTF) and anti-money laundering (AML).

Ajay Seth, the Economic Affairs Secretary, said that India will publish a discussion paper by September detailing its policy position on cryptocurrencies. The purpose of this project is to get input from pertinent parties regarding the suggested legal framework for cryptocurrencies in the nation. The upcoming discussion paper will examine existing constraints and solicit feedback on the scope of bitcoin legislation in India.

In an interview with Moneycontrol, Seth mentioned that anti-money laundering (AML) and counter-terror financing (CTF) regulations currently govern cryptocurrencies in India. Should the scope of regulation be expanded beyond that point, as it cannot extend further? What position should the policy take? The discussion paper will contain all of that information.”

India expanded the scope of CTF and AML regulations to cover cryptoassets and intermediaries in March 2023. A more comprehensive strategy for cryptocurrencies is presently being developed by an inter-ministerial group that comprises the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI). An interministerial panel is now investigating a more comprehensive cryptocurrency policy. Before September, we hope to release the discussion paper,” Seth continued.

The choice to write a discussion paper came about as a result of the G20 member nations endorsing the principles during India’s leadership last year. The Financial Stability Board (FSB) and the International Monetary Fund (IMF) developed these guidelines, which recommended against a complete prohibition on cryptocurrency activities because they were deemed unfeasible.

Seth emphasised the significance of the G20’s established roadmap, which offers a structure for evaluating the risks and possible applications of cryptocurrencies. This approach is probably going to have an impact on how India’s discussion paper develops.

What Does the Paper Expect To Present?
The purpose of the paper is to introduce concerns to stakeholders and solicit their opinions in order to start a conversation. This strategy is consistent with a story by Reuters earlier this year, which stated that Sebi has proposed that many regulators supervise the trading of cryptocurrencies, indicating the willingness of certain authorities to allow private virtual assets. On the other hand, the RBI has voiced worries over the macroeconomic dangers that private digital currencies provide.

By obtaining feedback from different stakeholders, a balanced regulatory framework may be able to be created. India’s focus on cryptocurrencies is currently on AML and CTF regulations, but Edul Patel, CEO of Mudrex, told ABP Live that “a wider mandate is definitely needed to expand the scope to include consumer protection, market integrity, and innovation that can ensure responsible growth.” “The interministerial group’s decision to include RBI and SEBI indicates a cooperative effort that strikes a balance between innovation and risk mitigation. We eagerly await the September publication of the paper.”

Ashish Singhal, a co-founder of CoinSwitch, stated, “We look forward to reading the fine print and contributing to robust cryptoasset regulations focused on consumer protection and innovation in India.”

Significant progress has been made in India’s regulation of cryptocurrencies, notably the central bank’s 2018 ban on financial institutions working with cryptocurrency users or exchanges, which was later overturned by the Supreme Court in 2020. The government attempted to submit a bill in 2021 that would have prohibited private cryptocurrency use, but it was never passed.

Quick analysis of cryptocurrency prices on July 18: The market value increased to $2.37 trillion globally.

The oldest and most valuable cryptocurrency in the world, Bitcoin (BTC), began to decline early on Thursday, breaking below $65,000 following a strong few days. According to CoinMarketCap statistics, other well-known altcoins, including as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC), all received negative ratings, with the Market Fear & Greed Index as a whole standing at 57 (Neutral) out of 100. The most valuable token was Lido DAO (LDO), which increased by more than 6% in a single day. Following a 24-hour decline of more than 7 percent, Mog Coin (MOG) emerged as the largest loser.

As of the time of writing, the value of the entire cryptocurrency market was $2.37 trillion, a decrease of 1.33 percent in a day.

Price of Bitcoin (BTC)
According to CoinMarketCap, the price of Bitcoin was $64,780.29 today, a 1.55 percent decrease over the previous day. As per the Indian exchange WazirX, the current price of Bitcoin was Rs 57 lakh.

Ethereum Price (ETH) Now
At the time of writing, the price of ETH was $3,425.87, indicating a 1.64 percent decrease over the previous 24 hours. The price of Ethereum in India was Rs 3.02 lakh, according to WazirX.

Price of Dogecoin (DOGE)
According to CoinMarketCap data, DOGE saw a 1.78 percent 24-hour loss today, with a current price of $0.1233. The price of Dogecoin in India was Rs 10.84, according to WazirX.

Price of Litecoin (LTC)
Litecoin had a 1.68 percent 24-hour decline today. It was trading at $72.23 at the time this was written. The cost of LTC was Rs 6,235.35 in India.

Price of Ripple (XRP)
The price of XRP was $0.6096 today, up 2.60 percent in the last 24 hours. WazirX reported that the price of ripple was Rs 53.30.

Solana (SOL) Cost
The price of Solana today was $158.51, indicating a 1.77 percent decrease in a day. The price of SOL in India was Rs 13,949.76, according to WazirX.

Top Bitcoin Gainers Right Now, July 18
The top five cryptocurrency gainers during the last 24 hours, according to CoinMarketCap data, are as follows:

Lido DAO (LDO)

Cost: $1.99
Gain in a day: 6.28 percent

Render (RNDR)

Cost: $6.78
Gain in a day: 4.42 percent

Neo (NEO)

Cost: $11.93
Gain in a day: 4.37 percent

THORChain (RUNE)

Cost: $4.36;
Gain in 24 hours: 4.06 percent

The Axie Infinity (AXS)

Cost: $6.34
Gain in a day: 3.88 percent

IMPORTANT ANNOUNCEMENT OF EXCHANGES LISTING

1.WhiteBitcoin (WBTC) Listing on BisafeAI Exchange on December 25, 2024

We are thrilled to announce the listing of WhiteBitcoin (WBTC) on the BisafeAI Exchange, effective December 25, 2024. This exciting addition provides our users with new opportunities to trade and invest in one of the most innovative digital currencies on the market.

What Is BisafeAI Exchange?

BisafeAI Exchange is The World\u2019s First AI-driven CETF, SPOT, FUTURE, OPTIONS & STAKING cryptocurrency trading Upcoming platform, designed to offer a secure, efficient, and user-friendly experience for trading digital assets. It supports a wide range of cryptocurrencies and provides advanced trading tools, real-time market data, and competitive fees. Security is a top priority, with features like two-factor authentication, encryption, and cold storage for user funds. The platform ensures regulatory compliance and offers robust customer support to assist users. Whether you are a beginner or an experienced trader, BisafeAI Exchange aims to facilitate smooth and safe trading.

Trading Details

Trading Pair: WBTC/USDT

Trading Starts: December 25, 2024

Available for Spot Trading, Future & Options Trading

Benefits for BisafeAI Exchange Users

 

1. Diverse Investment Opportunities: Adding WBTC to our platform provides more options for diversifying your investment portfolio.

2. Enhanced Trading Experience: With our user-friendly interface and advanced trading tools, trading WBTC will be a seamless experience.

3. Promotional Events: Stay tuned for special promotions and bonuses to celebrate the listing of WBTC.

 

How to Get Started

1. Register: on the BisafeAI Exchange (www.bisafe.ai) if you haven’t already.

2. Complete Verification: Ensure your account is verified to start trading.

3. Deposit Funds: Add funds to your account to begin trading WBTC.

4. Start Trading: Navigate to the trading section and select the WBTC/USDT pair to begin your trading journey.

We Recommend After Listing Of WhiteBitcoin(WBTC)

 

Stay Updated

Follow us on our social media channels and subscribe to our newsletter to receive the latest updates and news about WBTC and other exciting listings on BisafeAI.

We look forward to seeing you trade WhiteBitcoin (WBTC) on BisafeAI and benefiting from the unique opportunities it offers.

Happy Trading!

For further assistance, please contact our support team at dev@bisafe.ai

 

2. WhiteBitcoin (WBTC) to Be Listed on Belpay Exchange in Futures & Options on December 25, 2024

WhiteBitcoin (WBTC) is set to be listed on the Belpay Exchange starting December 25, 2024. This listing will include futures and options trading, marking a significant step for WBTC in expanding its trading options and accessibility for investors.

The inclusion of WBTC in Belpay Exchange’s futures and options market provides traders with new opportunities to hedge and speculate on the cryptocurrency’s price movements. The introduction of these derivatives is expected to enhance liquidity and offer more sophisticated trading strategies for WBTC holders.

Belpay Exchange, known for its robust trading platform and a wide array of financial instruments, is set to facilitate this listing to attract a broader audience to WhiteBitcoin. This strategic move underscores the growing acceptance and integration of WBTC within the cryptocurrency financial ecosystem.

support@belpay.io

 

3. WhiteBitcoin (WBTC) Listing at Binance, Bybit, and Polonex in Q2 2027

Introduction:

WhiteBitcoin (WBTC), a prominent cryptocurrency known for its innovative blockchain technology and robust security features, is set to make a significant move in the digital currency market. In the second quarter of 2027, WBTC will be listed on three major cryptocurrency exchanges: Binance, Bybit, and Poloniex. This strategic listing is expected to enhance liquidity, accessibility, and overall adoption of WBTC among global investors.

Binance Listing:

Binance, the world’s largest cryptocurrency exchange by trading volume, will include WBTC in its diverse portfolio of digital assets. This listing will allow Binance users to trade WBTC against various cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The inclusion on Binance provides WBTC with exposure to millions of traders worldwide, significantly boosting its market presence.

Bybit Listing:

Bybit, a rapidly growing derivatives exchange known for its advanced trading features and user-friendly interface, will also list WBTC. This listing will enable Bybit’s users to engage in spot trading as well as leverage WBTC for futures contracts. Bybit’s integration of WBTC is anticipated to attract both retail and institutional traders, offering new opportunities for hedging and speculation in the crypto market.

Poloniex Listing:

Poloniex, a well-established exchange known for its broad selection of altcoins and high-security standards, will add WBTC to its trading platform. The listing on Poloniex will allow users to trade WBTC with various fiat and cryptocurrency pairs. Poloniex’s reputation for reliability and security is expected to attract a diverse user base to WBTC, promoting its stability and growth.

Market Impact:

The simultaneous listing of WBTC on Binance, Bybit, and Poloniex marks a significant milestone in its development. This strategic move is expected to enhance the liquidity and trading volume of WBTC, making it more attractive to investors. The increased accessibility through these major exchanges will likely drive adoption and foster greater confidence in WBTC as a viable investment option.

Conclusion:-

The listing of WhiteBitcoin (WBTC) on BisafeAI, Belpay in Q4 2024 & Binance, Bybit, and Poloniex in Q2 2027 represents a pivotal moment in the cryptocurrency landscape. By joining forces with these leading exchanges, WBTC is poised to expand its reach and influence, solidifying its position as a key player in the digital currency market. Investors and traders are encouraged to take advantage of this opportunity to engage with WBTC on these reputable platforms, potentially benefiting from its promising prospects.

 

REGARDS

TEAM VIP WALLET – BTC, WBTC & WEB3

Web3, or Web 3.0, is the next generation of internet services characterized by decentralized protocols, blockchain technologies, and Coin/token-based economies. It aims to create a more open, transparent, and user-centric internet. Here’s a closer look at what Web3 entails and why it matters:
Key Features of Web3.

Decentralization

• Blockchain Technology: Web3 uses blockchain to decentralize control, ensuring no single entity owns or controls the network, unlike the centralized platforms dominating Web2.
• Peer-to-Peer Networks: Users interact directly with each other, enhancing privacy and reducing dependency on centralized entities.

Trust and Transparency:

• Smart Contracts: These self-executing contracts have terms directly written into code, automatically enforcing and executing agreements, which reduces the need for intermediaries and enhances trust.
• Immutable Ledgers: Transactions are recorded on the blockchain in an immutable and transparent manner, ensuring data cannot be altered once added.

User Ownership and Control:

• Digital Assets and Coin/Token: Web3 allows the creation and ownership of digital assets and cryptocurrencies, giving users real ownership and control over their digital interactions and transactions.
• Decentralized Identity: Users maintain control over their digital identities, reducing the risks associated with data breaches and identity theft.

Economic Incentives:

• Coin/Token Economies: Cryptocurrencies and tokens incentivize participation and contributions to the ecosystem, rewarding users for their engagement.
• Decentralized Finance (DeFi): Web3 includes a range of decentralized financial services, offering alternatives to traditional financial systems and enabling more inclusive financial access.

Why Web3 Matters

Empowerment and Ownership:

• User-Centric: Web3 shifts power from centralized entities to individuals, giving them more control over their data, digital identities, and assets.
• Monetization: Creators and users can directly monetize their contributions without intermediaries, leading to fairer compensation models.

Innovation and Inclusion:
• New Business Models: Web3 fosters new business models like decentralized autonomous organizations (DAOs) and decentralized applications (dApps) that were not possible under Web2.
• Global Access: By removing barriers associated with centralized control, Web3 provides global access to financial services, information, and digital resources.

Enhanced Security and Privacy:

• Data Ownership: Users maintain ownership of their data, reducing the risk of breaches and misuse by third parties.

• Cryptographic Security: The use of cryptographic techniques enhances security, ensuring secure transactions and interactions.
Reduced Intermediary Costs:

• Efficiency: By eliminating intermediaries, Web3 reduces transaction costs and improves efficiency, making processes quicker and more cost-effective.
• Direct Interactions: Users can engage in direct transactions and interactions, streamlining processes and reducing overhead costs.

Challenges and Considerations

• Scalability: Current blockchain technologies face scalability issues that need addressing to handle large-scale applications and user bases.
• Regulation: The regulatory landscape for cryptocurrencies and blockchain is still evolving, posing potential risks and uncertainties.
• Usability: Web3 applications often have a steep learning curve, requiring further development of user-friendly interfaces for mass adoption.
• Security Risks: While blockchain itself is secure, the surrounding ecosystem (such as smart contracts and dApps) can be vulnerable to exploits and hacks.

Conclusion
Web3 represents a transformative shift in how we interact with the internet, promising greater decentralization, security, and user empowerment. Despite the challenges, the potential benefits of a more open, user-centric, and equitable internet make Web3 a critical development in the digital landscape. As the technology matures, it is likely to have profound implications for various aspects of society, from finance and governance to social interaction and digital content creation

Warm regards to the WhiteBitcoin (WBTC) Investor and Developer Community.
With great enthusiasm, we proudly announce the momentous milestone of WhiteBitcoin’s (WBTC) 6th anniversary, marking a decade of remarkable growth. The steadfast support, trust, and belief from our investors have played a pivotal role in our journey, leading to the attainment of extraordinary milestones.
In commemoration of this significant achievement, we are delighted to unveil a series of groundbreaking announcements for the years that lie ahead. This goes beyond just a roadmap; it encompasses a spectrum of revelations and initiatives that will shape our trajectory for the next two decades.

First Quarter of 2024: Elevating the VIP Wallet Experience –
Get ready for an unmatched VIP Wallet experience featuring BTC, WBTC, and WEB3! The upgraded version is scheduled to be unveiled on the White Bitcoin (WBTC) anniversary, complete with thrilling new features. Stay tuned for its release on the Google Play Store.

Second Quarter of 2024: Introducing the Web3 Wallet –
In the upcoming second quarter of 2024, we are thrilled to present the Web3 version of the VIP Wallet, accessible on both mobile and web platforms. This unveiling enables our users to effortlessly utilize all VIP Wallet features on both the application and website, ensuring a user-friendly and comprehensive experience.

Fourth Quarter of 2024: Introducing the Advanced Blockchain App, Future & Option Contracts on BELPAY.IO EXCHANGE & Another Exchange –
Prepare for a revolutionary leap! The introduction of an Advanced Blockchain aims to ease the pressure on Bitcoin transactions, facilitating the smooth transfer of WBTC on decentralized exchanges and unlocking boundless possibilities. The WhiteBitcoin Dev Team is spearheading the launch of Future & Option Contracts on two exchanges.

First Quarter of 2025 to Fourth Quarter of 2026: Unveiling the NFT Platform on Advanced Blockchain –
Embark on an NFT adventure! We are excited to introduce a state-of-the-art NFT platform on the Advanced Blockchain, offering new opportunities and experiences for the WhiteBitcoin (WBTC) Community.

Second Quarter of 2026: Commencing the Second Mining Halving Event –
Brace yourselves for another noteworthy milestone as we approach the Second Mining Halving event on WhiteBitcoin (WBTC), propelling us to new heights and ushering cryptocurrency into a new era of evolution.

Fourth Quarter of 2026: Public Release of Mining Code –
As the year draws to a close, the eagerly anticipated Mining Code will be publicly released, inviting additional Mining Partners to join and further participate in the endeavor.

First Quarter of 2027: VIP Wallet – Conclusion of Block Matching Affiliate Program and Prolonged Staking Program Until 2038 with Reward Halving Process:
Witness the transformation of the VIP Wallet as we bring closure to the Block Matching Affiliate Program while extending the Staking Program until 2038. Affiliates can now unlock WBTC with a 7% monthly yield, with exciting rewards awaiting their participation.

Second Quarter of 2027: WhiteBitcoin (WBTC) Broadening Its Presence Across Multiple Exchanges –
In the upcoming second quarter of 2027, WBTC is poised to make its debut on several new global exchanges, encompassing notable platforms such as Binance, Coinbase, Polonex, Bitmex, ByBit, CEX.io, Bitcoin.com, Blockchain.com, Advance Blockchain, and many more.

First Quarter of 2028: Public Release of Development Codes Across All Categories –
Embark on the future with the revelation of development codes made publicly accessible.

Second Quarter of 2030: Third Mining Halving Event –
Embark on the journey of the third Mining Halving, solidifying WBTC’s position in the cryptocurrency world.

Second Quarter of 2034: Commemorating the 4th Mining Halving –
We celebrate another milestone, the 4th Mining Halving, a testament to our commitment to long-term prosperity.

Second Quarter of 2038: Final Mining Halving –
The journey culminates with the last halving, where WBTC will play a crucial role in settling transaction fees for BTC, BCH, BTG, BSV, and NFT on the Advanced Blockchain.
As we forge ahead, our commitment to future-proofing White Bitcoin (WBTC) remains unwavering, embracing Web3 metaverse technology and anticipating growth and new coin distributions in the years to come.
Buckle up, White Bitcoin (WBTC) family, as we embark on a remarkable journey to break new grounds and reshape the crypto landscape through innovative technology and exciting updates in the VIP Wallet. Get ready for a ride you’ll never forget!

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.

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.

The cryptocurrency markets were up on Thursday after the US Federal Reserve held interest rates constant and Chair Jerome Powell hedged on the conclusion of the rate hike cycle.

On Wednesday, the Federal Reserve maintained interest rates constant as policymakers tried to discern whether financial conditions are already tight enough to limit inflation, or whether an economy that continues to beat expectations requires even more restraint.

Powell said after a two-day policy meeting that, given the uncertainties, the best course of action for now was to keep the Fed’s benchmark overnight interest rate in the current 5.25%-5.50% range and watch how job and price data evolve between now and the next policy meeting in December.

Meanwhile, in the 24 hours following the Fed’s decision, the worldwide cryptocurrency market cap increased by 2.45% to more over $1.3 trillion.

At roughly 12.40 p.m., Bitcoin was trading 2.5% higher at $35,308, while Ethereum was trading 1.9% higher at $1,837.

Following the decision by the United States Federal Reserve’s Federal Open Market Committee (FOMC) that interest rates will remain unchanged at 5.25%-5.50%, Bitcoin has been trading above the $35,500 mark. This has improved market morale and resulted in an optimistic feeling, with Bitcoin’s price gradually rising over the last 24 hours.

Market participants are now waiting for the US Labour Department’s nonfarm payrolls report on Friday, according to Edul.

Solana was the highest gainer among top crypto tokens, climbing more than 12%. Cardano, Polygon, Polkadot, and Avalanche all increased by more than 6%, while BNB, XRP, Dogecoin, Litecoin, and Shiba Inu increased by 2-3%.

The entire volume in DeFi is currently $6.12 billion, accounting for 10.34% of the total 24-hour volume in the crypto market. The total volume of all stablecoins is now $53.02 billion, accounting for 89.62% of the total 24-hour volume of the crypto market.

The market capitalization of Bitcoin, the world’s largest cryptocurrency, has risen to $689 billion in the last 24 hours. According to CoinMarketCap, Bitcoin presently has a 52.77% market share. Bitcoin volume fell 68% in the last 24 hours to $25.8 billion.

Technically, BTC broke over the critical $35,000 barrier level and closed the daily candle above it, signalling a positive mood. While a short-term pullback is possible, the trend appears to be headed towards resistance levels in the $39,800 to $40,000 range.

In contrast, ETH still needs to break through its 2023 resistance levels, which are at $2,020 and $2,140, to open the way for further gains.

Quick analysis of cryptocurrency prices on October 28: The value of the worldwide market grew to $1.27 trillion.

The oldest and most valuable cryptocurrency in the world, Bitcoin (BTC), was able to maintain its value above $34,000 early on Tuesday. According to CoinMarketCap, the market’s overall Fear & Greed Index was 72 (greed). In contrast, Ethereum (ETH) is gradually aiming for $1,800. Notable altcoins witnessed slight increases overall, including as Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC). THORChain (RUNE) subsequently emerged as the highest gainer, with a spike of more than 14% in a single day. With a 24-hour decline of more than 4 percent, Render (RNDR), on the other hand, emerged as the largest loser.

At the time of writing, the value of the entire cryptocurrency market was $1.27 trillion, an increase of 0.35 percent in a day.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $34,259.87, a decrease of 0.19 percent in a day. As per the Indian exchange WazirX, the current value of Bitcoin was Rs 29.60 lakh.

Ethereum Price Today
At the time of writing, the price of ETH was $1,799.78, a 0.78 percent increase in just 24 hours. Ethereum’s price in India was Rs 1.54 lakh, according to WazirX.

Dogecoin Price Today
With a current price of $0.06922, DOGE showed a 0.65 percent gain over the course of a day, according to CoinMarketCap data. The price of Dogecoin in India was Rs 6.03, according to WazirX.

Litecoin Price Today
Litecoin gained 0.88 percent in a day. As of writing, its trade price was $68.94. The cost of LTC was Rs 5,905.01 in India.

Ripple Price Today
The price of XRP was $0.5758 after rising 3.92 percent in a day. WazirX reported that the price of ripple was Rs 49.60.

Solana Price Today
With a price gain of 9.44 percent in just one day, Solana was trading at $35.70. WazirX reports that the price of SOL in India was Rs 2,950.