Advertisement

Crypto Price Today: Bitcoin, Ethereum, Solana, Toncoin on July 27th 2023

  • Web Desk
  • Share

Crypto market mixed over weekend: Bitcoin struggles to surpass $27,000

Crypto market mixed over weekend: Bitcoin struggles to surpass $27,000

Advertisement

Bitcoin and other cryptocurrencies saw a rise in trading on Thursday following the US Federal Reserve’s announcement of a 25 basis point increase in interest rates, in line with expectations.

The Fed also stated its readiness to raise rates further if necessary, which limited gains in digital assets.

Bitcoin experienced a slight increase, reaching just below the $29,500 mark, while Ethereum outperformed with a gain of over 1% but remained below $1,900. Altcoins also saw higher prices.

The interest rate hike, the largest since 2001, had a notable impact on the crypto market, according to Mudrex’s Co-founder and CEO, Edul Patel.

“Bitcoin, which had dipped to a low of $29,097 on Tuesday, has now shown signs of recovery and is trading above the $29,400 mark.

Advertisement

However, to fend off the aggressive bears, the bulls need to drive the price back up and maintain it above the $31,000 threshold. Meanwhile, Ethereum was observed being traded at the $1,870 level,” he stated.

Also Read

Tim Draper vision for Bitcoin’s role in currency and commerce

Tim Draper, the renowned American venture capitalist, has been fervently advocating for...

On Thursday, most of the top crypto tokens saw gains, with Solana surging 6%, and Polygon and Bitcoin Cash rising 3% each. Cardano, Litcoin, and Polkadot also recorded 2% increases. However, some tokens performed poorly, with Toncoin dropping 4% and Dogecoin down by over 2%.

The global cryptocurrency market cap rose to $1.19 trillion, a 1% increase in the last 24 hours, while trading volumes spiked by over 16% to reach $30.56 billion.

Bitcoin’s value remained stagnant, struggling to surpass $30,000, amid uncertainty about the Federal Reserve’s expected 25-basis point rate hike.

Last week, Bitcoin investment products experienced a $13 million outflow, according to CoinDCX Research Team.

Advertisement

He added, “XRP has emerged as the most traded altcoin of 2023 so far, with a record-breaking $150 billion trading volume.

The crypto has benefited from the recent court ruling that it is not a security, capturing the attention of traders worldwide and signaling a potential shift in how crypto assets are perceived and regulated.”

Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Live News.


Advertisement
End of Story
BOL Stories of the day
BTC TO PKR – Today’s Bitcoin price in Pakistan on September 20, 2025
FBR moves against online display of wealth
Dollar rises? Check today’s Currency exchange rates in Pakistan, 19 Sept 2025
Canada, Mexico to strengthen ties against US tariff threats
Currency Exchange Rates in Pakistan Today – 17 September 2025
Gold Rate in Pakistan Today – 17 September, 2025
Next Article
Exit mobile version