ISLAMABAD: The cryptocurrency market turned positive on Thursday, with the market capitalization gaining 2.2 percent to reach $2.64 trillion. As of 1400 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, went up to $67,020 with an increase of 0.3 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.316 trillion with this increase. Bitcoin has been 6.6 percent up in the past seven days. It appears that the grand old crypto is not yet ready to let go of its rally which saw it surpass its all-time high earlier this week. Bitcoin bounced back to $67,000 level after falling to $60,000 post liquidations. Bulls are viewing the dip as a buying opportunity showing demand at lower levels. If bulls can push the price to above $69,000 level the next resistance is at $70,200. Currently, support lies at the $65,600 level. TLTP
Despite a correction, BlackRock’s iShares Bitcoin Trust ETF recorded its highest inflow of $788 million and bought 12,000 more Bitcoins, this shows the growing demand.
On the other hand, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, went down by 1.7 percent amid profit-taking to reach $3,796. With this decrease in price, the market capitalization of ETH has reached $456 billion. ETH has gained 8.2 percent of its value during the last seven days.
However, Binance Coin (BNB) price increased by 3.6 percent to reach $439. The market capitalization of BNB has reached $67.6 billion with this increase. BNB has gained 7.1 percent of its value during the last seven days.
Following suit, Solana price jumped by 8.2 percent to reach $141. With this increase in price, its market capitalization has reached $62.3 billion. SOL has gained 8.5 percent of its value during the last seven days.
Similarly, the price of Ripple (XRP) increased by 2.6 percent to reach $0.623. The market capitalization of XRP stands at $34 billion with this increase. XRP has gained 4.5 percent of its value during the last seven days.
