ISLAMABAD: The cryptocurrency market edged lower on Tuesday as market participants await the US Federal Reserve’s decision on interest rates to be announced on Wednesday, with the market capitalization losing 0.5 percent to $1.32 trillion. As of 1310 hours GMT, Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, shed 0.6 percent in the last 24 hours to reach $34,310. The market capitalization of the biggest crypto has reached $670 billion with this decrease. Bitcoin has been 0.8 percent down in the past seven days. The market is divided in its opinion on Bitcoin’s upcoming move as breaking resistance at $35,000 as well as a price correction, both seem like a possibility. To sustain its bullish momentum, Bitcoin will need to surpass the $34,700 resistance level, failing which it may find support near $34,000. Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 0.5 percent to reach $1,798. TLTP
With this decrease in price, the market capitalization of ETH has reached $216.3 billion. ETH has been 2.4 percent down in the past seven days. Similarly, Binance Coin (BNB) price inched down by 0.2 percent to reach $227. The market capitalization of BNB has reached $34.9 billion with this decrease. BNB has shed 2.3 percent of its value during the last seven days.
