Crypto Price Today: Bitcoin holds $30,000; Ethereum manages $1,900; Bitcoin Cash drops 5%

Bitcoin and other crypto tokens were back in red on Tuesday as the good news following Ripple's partial victory against the SEC in aa court decision settled down. Tokens may continue to experience dips below this threshold until the SEC decides whether to approve one of the multiple spot bitcoin ETF applications.

Bitcoin was back in the red territory as the largest crypto token dropped about a per cent but somehow managed to hold$30,000-mark. Its largest peer, Ethereum, lost more than a per cent but barely lingered over $1,900-level. Price in the action altcoins was mostly on the downside.

Bitcoin started the new week maintaining its position above $30,000 with the on-chain data indicating a re-accumulation phase among investors. This sentiment hints at an impending significant market move, although its precise direction remains uncertain, said CoinDCX Research Team.

"Crypto trading volume across spot exchanges has experienced a notable surge mainly due to the recent judge ruling that determined Ripple's sales of XRP on public trading platforms did not constitute the sale of securities. The seven-day moving average for spot trading volumes rose to $16.56 billion," it added.

Majority of the top crypto tokens were trading lower on Tuesday but the action was capped. Bitcoin Cash topped among the losers, dropping about 5 per cent while Cardano was down 3 per cent. XRP shed 2 per cent, while Litecoin retreated about a per cent for the day.

The global cryptocurrency market cap was trading slightly lower, dropping to $1.21 trillion-mark, as it declined almost a per cent in the last 24 hours. However, the total trading volumes surged about 41 per cent to $35.23 billion.

The crypto market has observed a slight correction in the last 24 hours. The crypto fear and greed index, on the other hand, is up by 2 points and has re-entered the greed zone with a score of 56/100, said Shubham Hudda, Senior Manager, CoinSwitch Markets Desk.

"Post XRP and MATIC surge last week, Ethereum Layer 2 scaling solutions have seen significant investor attraction as in the last 5 days. Chainlink has launched a cross-chain interoperability protocol aimed to bridge blockchain and traditional finance by using SWIFT's messaging infrastructure," he added.
 

Tech View by WazirX Trade Desk
Adventure Gold (AGLD) serves as the intrinsic ERC-20 token for the Loot non-fungible token (NFT) initiative. Adventure Gold adheres to the core vision of the underlying Loot NFT game, fostering a community-driven ecosystem where individuals can build upon Loot, effectively endorsing its growth and development.
 

The AGLD/USDT chart has been on an upward trajectory since the last few days. The trend is on the verge of edging above the ascending channel pattern, on the weekly time period. The positive momentum is expected to continue over the course of the next few days. The next resistance is expected at $0.92 and a strong support is expected at the $0.42 level.



(Views and recommendations given in this section are the analysts' own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)