The vast majority of cryptocurrency traded in the green area early Sunday. Bitcoin price increased 0.62% in the previous 24 hours to $42,679.03, while Ethereum’s price inched up 1.26% to $3,254.76.
Coindesk data showed that Ether was the 2nd most traded cryptocurrency and its price had risen 1.21% to $3,254.
During the previous day’s session, Bitcoin was trading at its long-term support level, while the crypto markets continued to drop.
BTC/USD traded the majority of Saturday near $42,000, after a lower low of $42,183.25.
Bitcoin, the world’s most valuable cryptocurrency, is currently worth $811,832,005,365. WazirX has seen a total of $15,699.206,138 in bitcoin transactions over the last 24 hour.
Ethereum’s market cap is currently $391,371,137,484, and its 24-hour trading volume on WazirX is $9,677,852,941.
Bitcoin Volatility Rises
Bitcoin’s Saturday decline comes on the heels of Friday’s intraday high of $43,903.02, but as volatility increased, traders liquidated some positions, bringing prices lower.
With Saturday’s decline, ETH is now down over 9% in the last seven days, remaining close to its long-term basement.
Bitcoin’s price has fallen roughly 12% from its March 28 high of $48,238.
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BTC currently struggles between $42,076 support and the $404,90 to $42,316 need zone. Its price has retreated 7% in the last seven days, while Ethereum’s price has corrected to roughly 5.45%.
Altcoins, which are alternative cryptocurrency (also known as altcoins), have seen a rise and fall in popularity due to investor optimism swinging between pessimism and optimism.
BTC market capitalization at $825.56 Billion according to the Weekend Chart | Source: TradingView.com
Bitcoin 2022 Miami A Success
The Bitcoin 2022 conference in Miami has concluded, with more than 25,000 attendees celebrating the world’s most popular cryptocurrency and other assets.
The annual event brought together some of the industry’s most prominent figures, including Galaxy Investment Partners CEO Michael Novogratz and Paypal co-founder Peter Thiel, to discuss the state of bitcoin.
The crypto economy has expanded in the months since the COVID-19 pandemic devastated the majority of the world’s economies, with more crypto enterprises appearing and flourishing.
Bitcoin has more than quadrupled in value since before the outbreak, despite a nearly 40% decline since November’s record high.
BTC Whales Have a Busy Week
Meanwhile, according to the latest data, Bitcoin whales have been preoccupied purchasing new supply from sellers, with the exchange Bitfinex seeing some significant bid volumes filled.
Several cryptocurrency news outlets have previously reported on the relevance of Bitfinex whales and their recent purchasing and selling activities.
Another anonymous large-volume wallet has likewise continued to acquire millions of dollars’ worth of Bitcoin at regular intervals independent of price movement — a practice known as dollar-cost averaging.
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Featured image by Marca. Chart from TradingView.com
Bitcoinist Miami @ Bitcoin 2022