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.