Cryptocurrency Prices on October 17: Bitcoin trades above $67,400; XRP, Dogecoin surge up to 4%



Cryptocurrency prices exhibited mixed trends on Thursday. Bitcoin (BTC) remained volatile but managed to stay above the $67,400 mark, while Ethereum (ETH) continued to hover around $2,600. Solana (SOL) and Shiba Inu experienced slight dips over the past 24 hours.

As of 11:41 pm IST, Bitcoin was up 0.6%, trading at $67,433, having earlier reached a high of $68,375. Ethereum gained 0.17%, rising to $2,623.

Among other major cryptocurrencies, BNB, XRP, Dogecoin, and Tron surged by up to 4%. Conversely, Solana, Toncoin, Cardano, Avalanche, Polkadot, and Shiba Inu fell by up to 2.5%.

“Bitcoin has stabilised around $67,500 after testing the $68,000 resistance level. With market sentiment improving, Bitcoin could be gearing up for a move towards $70,000. The next resistance for BTC is at $68,600, while support is at $66,400,” said Edul Patel, CEO of Mudrex.

CoinDCX Research Team noted, “Bitcoin’s price experienced a significant bullish push during the past trading day, elevating levels above $68,300. The price attempted to breach $68,400 multiple times but failed, as the shorts liquidity pool accumulates around $68,600, suggesting a potential short squeeze could occur soon.”

“After multiple failed attempts, the resistance appears to be weakening, indicating that a breakout from the broadening wedge to the upside could elevate the price closer to $90,000,” they added.The volume of all stablecoins is now $73.14 billion, which is 90.78% 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, rose to $1.332 trillion. Bitcoin’s dominance is currently 57.53%, according to CoinMarketCap. BTC volume in the last 24 hours declined 24.75% to $36.91 billion.

“Bitcoin is eyeing $67,500 after a prolonged 220-day downtrend, indicating a rebuilding of investor confidence. The Fear and Greed Index remains steady at 71 in the ‘Greed’ zone. With the upcoming U.S. election just 20 days away, this will likely be a significant driver for the next bull run,” said Avinash Shekhar, Co-Founder and CEO of Pi42.

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



Source link

Share

Latest Updates

Frequently Asked Questions

Related Articles

OnePlus Ace 5 Key Specifications Leaked; Tipped to Get Snapdragon 8 Gen 3 SoC, 100W Charging Support, More

OnePlus is expected to reveal the Ace 5 series either by the end...

Meta struggles to curb hate speech before US vote: researchers

Meta - the owner of Facebook and Instagram - is struggling to fully...

NASA evaluating “next steps” for VIPER lunar rover mission

WASHINGTON — NASA expects to determine by early next year the next steps...

PAN details: Centre to curb unauthorised use of PAN details by tech companies

As the Union government prepares to notify the Digital Private Data Protection Act,...
Slot77Jp link slot gacor slot maxwin situs slot online suhu138 suhu138
didascaliasdelteatrocaminito.com
glenellynrent.com
gypsumboardequipment.com
realseller.org
https://harrysphone.com/upin
gyergyoalfalu.ro/tokek
vipokno.by/gokil
winjospg.com
winjos801.com/
www.logansquarerent.com
internationalfintech.com/bamsz
pancen.id
winjosjakrata.com
winlotrebandung.com
condowizard.ca
jawatoto889.com

hikaribet1.com
heylink.me/hikaribet
www.nomadsumc.org
condowizard.ca/aromatoto
euro2024gol.com
www.imaracorp.com
daftarsekaibos.com
stuffyoucanuse.org/juragan
Situs Togel Resmi
Toto Macau 4d
Aromatoto
Lippototo
Mbahtoto
Winjos
152.42.229.23
bandarlotre126.com
heylink.me/sekaipro
www.get-coachoutletsonline.com
wholesalejerseyslord.com
Fajartoto
Situs Togel
Toto Macau