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Cryptocurrency Price July 18: Bitcoin Falls Below $65K; Shiba Inu, XRP Crash Up to 11%
Cryptocurrency Markets fell on Thursday, dragged down by Bitcoin, Ethereum and XRP. The global cryptocurrency market capitalization fell 1.1% to around $2.37 trillion in the past 24 hours. As of 1:29 PM IST, Bitcoin (BTC) was down 0.9% at $64,714, while Ethereum was down 1.5% at $3,434.
“Bitcoin (BTC) has surprisingly fallen in the last 24 hours after a surge in the past few days. Analysts are predicting a liquidity crisis in the stablecoin market as Bitcoin price struggles. There is also a decline in general optimism after Peter Schiff’s statement on his support for gold over Bitcoin, as well as a new wave of negative sentiment due to the Mt. Gox sell-off,” said Rajagopal Menon, VP of WazirX.
Edul Patel, CEO of Mudrex, said: “If Bitcoin starts to rally again, it could face resistance at $65,000, with support found at $63,850. Meanwhile, Ethereum is trading at $3,400, with bulls aiming to push the price up to $3,730. Sellers are expected to mount a strong defense around the $4,000 mark.”
Other altcoins and meme coins also declined, including BNB (1.5%), Solana (2%), XRP (6.9%), Toncoin (1.2%), Dogecoin (4.3%), Cardano (1.6%), Avalanche (4.4%), Shiba Inu (11%), Polkadot (4.2%), Chainlink (4.4%), and NEAR Protocol (3 ,5%).
According to CoinMarketCap, the volume of all stablecoins is now $68.86 billion, accounting for 92.36% of the total 24-hour cryptocurrency market volume.
Over the past 24 hours, the market capitalization of Bitcoin, the world’s largest cryptocurrency, has fallen to $1.276 trillion. Bitcoin’s dominance currently stands at 53.97%, according to CoinMarketCap. BTC volume over the past 24 hours has fallen 24.4% to $29.59 billion.
“Bitcoin is currently consolidating below $65,000 amidst intense trading activity. It is holding gains on the weekly chart but is facing significant resistance near $64,500. A successful weekly close above $65,000 could drive its positive momentum in the coming days,” said Vikram Subburaj, CEO of Giottus Crypto Platform.
Meanwhile, Sathvik Vishwanath, co-founder and CEO of Unocoin, said, “Bitcoin (BTC/USD) is currently trading around $65,000 with resistance levels at $65,980, $66,940, and $67,940 and support at $63,980, $63,020, and $62,330. The RSI of 61 and the 50-day EMA at $63,020 indicate positive momentum and reinforce Svenson’s bullish view.”
(Disclaimer(The views expressed by experts are their own and do not necessarily reflect those of The Economic Times)
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