Crypto Price Today: Bitcoin rises above $27,200, Polygon, Cardano climb up to 3%

The cryptocurrency market was majorly trading higher on Thursday amid improved sentiment on progress in debt ceiling negotiations in the United States.

Bitcoin (BTC) rose 0.90% to $27,230, whereas Ethereum (ETH) was just above the $1,800 level. BTC volume in the last 24 hours stood at approximately $15.1 billion, rising 23.23% in the last 24 hours.

"Bitcoin (BTC) got a healthy bounce overnight as prospects of a successful US debt ceiling raise positively influenced financial markets. It continues to trade just above the $27,000 level and will likely have a renewed attempt at $30,000 in coming weeks," Vikram Subburaj, CEO of Giottus Crypto Platform, said.


Other top crypto tokens were also trading higher on Thursday. Polygon surged nearly 3%. Cardano, Dogecoin, Polkadot and Litecoin were also trading with gains.

The total volume in DeFi is currently 2.36 billion, 7.03% of the total crypto market 24-hour volume. The volume of all stablecoins is now $30.84 billion, which is 91.83% of the total crypto market 24-hour volume.

The global cryptocurrency market cap was trading higher around $1.13 trillion, rising 0.59% in the last 24 hours.

The market cap of Bitcoin, the world's largest cryptocurrency, was around $527 billion. Bitcoin’s dominance is currently 46.51%, an increase of 0.14% over the day, according to CoinMarketCap.

"Despite concerns surrounding the US debt ceiling, Bitcoin and Ethereum have displayed limited fluctuations in their prices. Bitcoin is presently trading around $27,300, and there is a possibility of an upward movement if it surpasses the resistance level of $27,550," Edul Patel, Co-founder and CEO at Mudrex, said.

The current support level for Bitcoin is at $27,000, while resistance levels are observed at $27,420 and $27,550, Edul added.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.31 hours, IST on May 18, 2023)

Bitcoin $27,230 0.90%
Ethereum $1,818 -0.03%
Tether $1.00 -0.02%
BNB $312 0.66%
XRP $0.4451 -0.58%
Cardano $0.376 1.94%
Dogecoin $0.07381 1.48%
Polygon $0.8787 2.77%
Solana $20.79 0.29%
Litecoin $92.99 0.69%
Polkadot $5.41 1.63%
Tron $0.07081 -0.02%
Shiba Inu $0.000008775 0.09%

(Note: Price change in last 24 hours)

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