The majority of cryptocurrencies were trading in the green zone early Sunday. Bitcoin price increased 0.62% in the previous 24 hours to $42,679.03, while Ethereum’s price inched up 1.26% to $3,254.76.
According to Coindesk data, Ether, the second most traded cryptocurrency, was trading at $3,254, up 1.21%.
During the previous day’s session, Bitcoin was trading at its long-term support level, while the crypto markets continued to drop.
BTC/USD spent the most of Saturday trading near its $42,000 support level, following an earlier low of $42,183.25.
Bitcoin, the world’s most valuable cryptocurrency, is currently worth $811,832,005,365. The total volume of bitcoin traded on WazirX in the last 24 hours is $15,699,206,138.
Ethereum’s market cap is currently $391,371,137,484, and its 24-hour trading volume on WazirX is $9,677,852,941.
Bitcoin Volatility Climbs
Bitcoin’s Saturday decline comes on the heels of Friday’s intraday high of $43,903.02, but as volatility increased, traders liquidated some positions, bringing prices lower.
With Saturday’s decline, ETH is now down over 9% in the last seven days, remaining close to its long-term basement.
Bitcoin’s price has fallen roughly 12% from its March 28 high of $48,238.
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BTC is currently grappling between the $42,076 support level and the $40,490 to $42,316 demand zone. Its price has retreated 7% in the last seven days, while Ethereum’s price has corrected to roughly 5.45%.
Additionally, alternative cryptocurrencies (altcoins) have risen and fallen in popularity as investor sentiment fluctuates between optimism and pessimism.
BTC total market cap at $825.56 billion on the weekend chart | Source: TradingView.com
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