Bitcoin surges past $66,000 post halving, Altcoins experience mixed performance

Edul Patel, CEO of Mudrex, said, "Bitcoin trades above the $64,000 level aftermath of the fourth halving event. Neither bulls or bears are dominating at the moment. In this case, it is likely that Bitcoin might trade sideways between $62,000 and $66,000 in the next couple of days."

Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, "This week could see significant volatility, probably in favour of bulls as the Hong Kong ETFs are gearing up to launch and the economic calendar is also inconsequential. A breakout above $75,000 would confirm that the bottom has been achieved around $60,000."

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Currently, the total volume in DeFi stands at $5.16 billion, representing 8.12% of the total 24-hour volume in the crypto market. Concurrently, the volume of all stablecoins amounts to $58.53 billion, constituting 92.17% of the total 24-hour volume in the crypto market, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, rose to $1.30 trillion. Bitcoin's dominance is currently 53.5%, according to CoinMarketCap. BTC volume in the last 24 hours increased 10.3% to $24.36 billion.

Tech view by Rajagopal Menon, Vice President, WazirX

Bitcoin is looking at two support zones at $60,775 and $59,600 range. The tussle between bulls and bears is intensifying with the token on the brink of selling pressure.

Its current moving averages suggest the pair may trade between $60000 and $70000. To pave the way for a rally to $84,000, bulls need to overcome overhead resistance. With a bullish crossover on the 4-hour chart, bulls hold the upper hand. However, a downturn below moving averages could indicate aggressive selling, with a potential downside target at $63,000.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Source: Forex-Markets-Economic Times