Bitcoin declines to $30,000, global crypto market cap remains above $1.2 trillion

Crypto markets edged lower over the weekend. The global crypto market capitalisation continues to be just above $1.2 trillion. The crypto greed and fear index rose by a point since yesterday and continues to remain in the greed zone with a score of 56/100.

"While the BTC ETF narrative bolstered investor sentiments over the past month, a new report by JP Morgan suggests that this offering may not be as revolutionary. The report suggests that similar products have existed in Canada and Europe, and witnessed limited inflows. However, whales continue to accumulate BTC and aren’t showing signs of a slowdown," Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Republic.

"The market volatility has decreased compared to the previous week, indicating a consolidation phase as Bitcoin prepares for its next price movement. It is essential to closely monitor the $30,000 support level, as a failure to sustain it could potentially trigger a breakout, with the next major support level anticipated around $29,500," Edul Patel,  CEO, Mudrex told Republic.

Prices listed were last checked at 10:00 am today according to Investing.com            

Bitcoin (BTC) 

BTC continues to trade above its $30,000 support level despite being slightly down in the last 24 hours, as well as seven days. Investors are likely to closely observe inflation numbers and jobless claims this week, as they will be considered by the Fed to decide on their next move related to interest rates.

Ethereum (ETH) 

Ethereum saw a decrease of over 0.4 per cent in the last 24 hours and is currently trading at the  $1,862.64 level with a market cap of $223.86 billion.

Dogecoin (DOGE) 

Dogecoin lost almost 2.04 per cent to  $0.064820 in the last 24 hours. It has seen a loss of almost 5 per cent in the last seven days with a market cap decreasing to $9.07 billion.

Litecoin (LTC) 

Litecoin lost 3.52 per cent in the last 24 hours. The seven days price change reduced drastically to almost 17 per cent with a market cap of $6.87 billion.

Solana (SOL)

Solana gained almost 8.61 per cent in the last seven days with a market cap of $8.53 billion.

Ripple (XRP) 

Ripple's value has lost 3.42 per cent in the last seven days and stood at $0.46700 with a market cap of $24.40 billion.