Bitcoin rises above $27,900 amid optimism over US debt ceiling deal
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The cryptocurrency markets were trading higher on Monday amid optimism over the US debt ceiling deal. Bitcoin (BTC) rose 2.55% to $27,927, while Ethereum (ETH) was above the $1,900 level.
"Most cryptocurrencies traded in green over the weekend after markets reacted to the White House announcing that a deal to avert a debt ceiling crisis has been reached on one side and the release of higher-than-expected latest personal consumption data from the US on the other side," Edul Patel, Co-founder and CEO at Mudrex, said.
"Currently, Bitcoin is seen trading above the US$28,000 level gaining over 3% in the past 24 hours and erasing its weekly losses. If BTC can clear the US$28,500 resistance zone, it might continue higher soon," Edul added.
The total volume in DeFi stood at 2.30 billion, 6.83% of the total crypto market 24-hour volume. The volume of all stablecoins is now $30.6 billion, which is 91.07% of the total crypto market 24-hour volume.
The global cryptocurrency market cap was trading higher around $1.16 trillion, rising 2.04% in the last 24 hours.
The market cap of Bitcoin, the world's largest cryptocurrency, was around $541 billion. Bitcoin’s dominance is currently 46.64%, an increase of 0.22% over the day, according to CoinMarketCap. BTC volume in the last 24 hours stood at approximately $16.23 billion, rising 66.46% in the last 24 hours.
Source: EconomicTimes
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