Crypto Price Today: Bitcoin barely holds $29,000; Ethereum above $1,900; Dogecoin rises 8%

Bitcoin and other crypto tokens continued their downward movement on Tuesday, as the digital token trader shifted their focus to Sam Altman affiliated Worldcoin, which is now banned in the US. However, traders will be looking at the US Federal Reserve's monetary policy meeting.

Bitcoin continued to bleed on Tuesday as the largest crypto token dropped more than 2 per cent to barely hold 29,000-mark. However, its largest peer, Ethereum, was trading lower, falling about a per cent but managed to hold $1,850-level. Price in the action altcoins was on the downside during the early day.

The overall crypto market has observed some selling pressure in the last 24 hours. The crypto fear and greed index has swung back into the neutral zone after observing a drop of 5 points; the current score is at 50/100, said Shubham Hudda, Senior Manager, CoinSwitch Markets Desk.

"Dogecoin has shown a positive price action within a few minutes after Twitter CEO Elon Musk changed the Twitter logo to X.com - with his location teasing the DOGE logo, making traders speculate the use of DOGE on the new X app," he said.

Barring the Dogecoin and the US dollar pegged stablecoins, all other top crypto tokens were trading lower on Tuesday. XRP and Bitcoin Cash dropped 5 per cent each, while Solana tanked 4 per cent. Litecoin, Cardano and Toncoin shed 3 per cent each. Among the gainers, Dogecoin surged 8 per cent each.

The global cryptocurrency market cap was trading significantly lower, falling down to $1.17 trillion-mark as it declined two per cent in the last 24 hours. However, the total trading volumes zoomed about 42 per cent to $34.47 billion.

Bitcoin volatility has dipped to its lowest level in a year as investors await the Federal Open Market Committee (FOMC) meeting this week. The FOMC is expected to raise interest rates by 25 basis points this week with an expectation that this may be the last rate hike by the Federal Reserve in the foreseeable future, said CoinDCX Research Team.

Tech View by WazirX Trade Desk
TomoChain (TOMO) is a project aimed at enhancing the scalability of the Ethereum blockchain, primarily by boosting its transactions per second (TPS) capacity. The ultimate objective of the project is to construct a blockchain infrastructure catering to decentralized apps (DApps) while enhancing integration and security.

The TOMO/USDT price has jumped up by nearly 4 per cent in the last 24 hours. In the weekly time frame, TOMO has formed a distinctive cup and handle pattern, with the trend almost breaking out of the same. The next resistance is expected at $1.66 and a strong support is expected at the $0.81 level.


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