Crypto Price Today: Bitcoin surges above $31,000, market cap crosses $600 billion

The cryptocurrency market was trading on a mixed note on Tuesday. Bitcoin, Ethereum, XRP and Cardano were trading with gains, while BNB, Litecoin, Polkadot and Solana witnessed some cuts.

Bitcoin (BTC) rose 1.17% to $31,021, whereas Ethereum (ETH) was below the $1,950 level. BTC volume in the last 24 hours stood at approximately $16.17 billion, rising 47.24% in the last 24 hours.

"The crypto market witnessed a remarkable surge in the past 24 hours, with a total volume of $37.82 billion, marking an impressive 25.34% increase. Notably, the DeFi sector contributed $2.94 billion, accounting for 7.78% of the overall market volume," Shivam Thakral, CEO of BuyUcoin, said.


"Adding to the excitement, Bitcoin surpassed the $31,000 mark, driven by the euphoria surrounding the application for a Bitcoin ETF. This achievement further fuels optimism and interest in the cryptocurrency market," he added.

The global cryptocurrency market cap was trading around $1.22 trillion, rising 0.97% in the last 24 hours.

The market cap of Bitcoin, the world's largest cryptocurrency, was around $602 billion. Bitcoin's dominance is currently 49.56%, an increase of 0.18% over the day, according to CoinMarketCap.

"It has been nearly two weeks now that BTC has been trading in the range of $30 - $31.5k. BTC's stability hints towards a weakening grip by the bears. It is now a matter of when instead of 'if' BTC will cross the psychological resistance of $31.5k and mark a 14-month high again," Shubham Hudda, Senior Manager at CoinSwitch, said.

Vikram Subburaj, CEO of Giottus Crypto Platform, said, "Bitcoin has to break its resistance at $32,400 to fructify this rally in the near term. A rally towards $35,000 may also represent a local top. BTC dominance is consolidating above 51% and can break out to the upside post this phase.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.54 hours, IST on July 4, 2023)

Bitcoin $31,021 1.17%
Ethereum $1,955 0.55%
Tether $1 0.01%
BNB $245 -0.42%
XRP $0.4883 1.49%
Cardano $0.2967 1.45%
Dogecoin $0.06854 0.80%
Polygon $0.7086 -3.17%
Solana $19.20 -0.98%
Litecoin $107.8 -3.78%
Polkadot $5.46 -0.63%
Tron $0.07747 1.12%
Avalanche $13.28 0.36%
Shiba Inu $0.00000776 1.14%

(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)