Bitcoin falls 0.57% to $30,642; Ethereum drops to $12 billion

The markets were in the red on Thursday's trade, with worries of further policy tightening by the US Federal Reserve. Bitcoin BTC fell 0.57% to $30,631 compared to Ethereum ETH just above the $1,900 level. BTC's value rose 18% in the last 24 hours to close at $12.97 billion. After the release of the FOMC minutes, Bitcoin experienced a decline in its value. positive remarks from BlackRock CEO Edul Patel prevented further losses and the cryptocurrency remained stable, said Mudrex Co-Founder and CEO Edul Patel. While open interest in Bitcoin futures market continues to increase, activity in the spot market has recently decreased. The ETF's decision suggests that investors are waiting for more clarification on the decision before making any significant moves. The world's cryptocurrency market cap was lower, around $1.2 trillion, down 0.78% in the last 24 hours. The total volume in DeFi is currently $2.74bn, 8.34% of the total 24-hour crypto market volume. The total value of all stablecoins is now $29.97 billion, which is 91.16% of the total 24 - hour volume of the crypto market. Bitcoin's market cap, the world's largest cryptocurrency, was around $596 billion. Bitcoin's dominance is now 49.68%, an increase of 0.09% over the course of the day, according to CoinMarketCap. BTC observed a little dip yesterday, but bulls maintain resilience near $30.3 k once again, showing strength and the psychological importance of this level. If BTC does manage to break 30 k on the upside, it is highly likely that it trades lower than investors' expectations, said Shubham Hudda, senior manager at CoinSwitch. Rajagopal Menon, WazirX's vice president, said major market oscillators point to a neutral sentiment. The Relative Strength Index 14 is 62, with a neutral outlook. The average directional index 14 at 32 indicates a neutral outlook. The MACD level 12, 26 at 896, indicates sell. The Stochastic RSI fast 3, 3, 4, 14, 14 is neutral at 5 and William's Percentage too indicates a Neural sentiment at - 51, Menon said. These do not reflect the views of The Economic Times.