Bitcoin Approaches $77,000 Amid Mild Bullish Trend; Ethereum Holds Steady at $2,300
Bitcoin signals mild bullish trend near $77,000; Ethereum around $2,300 with neutral momentum
The Economic TimesImage: The Economic Times
Bitcoin is trading near $77,000, indicating a mild bullish trend, while Ethereum is around $2,300 with neutral momentum. Both cryptocurrencies saw slight increases of 1.84% and 1.63%, respectively, as the global crypto market cap rose to $2.57 trillion.
- 01Bitcoin is trading at $77,115, showing a bullish trend.
- 02Ethereum is priced at $2,283, reflecting neutral momentum.
- 03The global crypto market capitalization increased by 1.35% to $2.57 trillion.
- 04Profit-taking pressure is noted as Bitcoin approaches $80,000.
- 05Recent ETF outflows may be contributing to sluggish price movements.
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Bitcoin is currently trading at $77,115, reflecting a mild bullish trend with a 1.84% increase over the past 24 hours. Ethereum is priced at $2,283, showing neutral momentum with a 1.63% rise. The global cryptocurrency market capitalization has increased by 1.35% to $2.57 trillion. Analysts from WazirX Markets Desk noted that while Bitcoin's moving averages indicate buying strength, oscillators suggest steady market conditions. Ethereum, trading near $2,250, is consolidating with no strong directional bias. Over the past week, Bitcoin has seen a 0.80% decline, while Ethereum corrected by 1.18%. Piyush Walke, a derivatives research analyst at Delta Exchange, highlighted that Bitcoin is approaching a key long-term resistance zone, where momentum is fading. He also pointed out that profit-taking pressure near $80,000 and upcoming U.S. inflation data are factors weighing on Bitcoin's performance. Recent ETF outflows could also be contributing to the current sluggish price action in the crypto markets.
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