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Cryptocurrency price on July 19: Bitcoin holds above $64,000 level, Altcoins trade mixed

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ETMarkets.comLast Updated: Jul 19, 2024, 01:56:00 PM IST

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Synopsis

Cryptocurrencies traded mixed on Friday with Bitcoin down 0.9% and Ethereum up. The global market cap dropped 0.8%. Bitcoin consolidates around $63,000, briefly hitting $65,000.

Major crypto tokens traded mixed on Friday. Bitcoin, BNB, XRP, Dogecoin, Cardano, Avalanche, and Shiba Inu saw losses, trading down by up to 6%. Conversely, Ethereum, Solana, Toncoin, and Tron recorded gains, trading up to 3% higher.

Meanwhile, the global cryptocurrency market cap decreased by 0.8% to around $2.35 trillion in the last 24 hours.

As of 11:44 a.m. IST, Bitcoin was down 0.9% at $64,384, while Ethereum remained above the $3,400 level. Earlier in the day, Bitcoin briefly reached $65,000.

Crypto Tracker

2.26%

1.88%

0.27%

-5.22%

NFT & Metaverse Tracker

-10.25%

TOP COINS (₹)

84 (0.08%)

48,306 (-3.4%)

5,818,642 (-4.35%)

14,029 (-5.12%)

209,285 (-6.36%)

"Bitcoin is consolidating around the $63,000 level, amidst a continued slump in US equity prices and ongoing speculation about the presidential election race. If BTC fails to climb above the $64,650 resistance zone, it could move downward toward the $62,500 level. Additionally, the recent hack of WazirX has added pressure on Indian investors," said Edul Patel, CEO of Mudrex.

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CoinDCX Research Team, said, "BTC and ETH are moving sideways, while many altcoins saw a decline yesterday. BTC took support at $63,300 and bounced back; it needs to clear the $66,800 resistance for an upside move in the short term."

The volume of all stablecoins is now $63 billion, which is 91.6% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, fell to $1.267 trillion. Bitcoin's dominance is currently 53.8%, according to CoinMarketCap. BTC volume in the last 24 hours declined 14.5% to $26.5 billion.

Tech view by Sathvik Vishwanath, Co-Founder & CEO, Unocoin

Currently, BTC is trading at around $64,600 and showing a slight increase. Key levels include resistance at $65,000 and support at $64,500. With a market cap of $1.28 trillion and a circulating supply of 19.73 million BTC, technical indicators suggest a cautiously optimistic outlook.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times.)

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