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Cryptocurrency News Articles
Cryptocurrency Prices Today: Bitcoin, Ethereum Up on Wednesday as China’s Rate Cut Announcement Fuels Bullish Momentum
Sep 25, 2024 at 02:03 pm
According to crypto exchange Binance, the Bitcoin price on September 25 was up by 1.74 per cent to trade above $64,000 at $64,232.75 in the morning
Cryptocurrency prices were up on Wednesday even as China’s rate cut announcement fuelled bullish momentum in the market. According to crypto exchange Binance, the Bitcoin price on September 25 was up by 1.74 per cent to trade above $64,000 at $64,232.75 in the morning, while Ethereum was trading higher by 0.83 per cent at $2,643.93. Dogecoin was also up by 2.23 per cent at $0.11.
The 24-hour trading volume of Bitcoin stands at $29.16B USD. Bitcoin is 1.74 per cent in the last 24 hours with a circulating supply of 19.76 million, according to Binance.
“Bitcoin’s bullish momentum dominates the market as it signals potential upward momentum. BTC is currently trading above $64,000, and needs market momentum to break through the $65,000 barrier. Ethereum is also showing bullish trajectories, but traders and investors fear a chance of a bearish dip to $2,500,” said Avinash Shekhar, co-founder and chief executive officer of Pi42.
This bullish trend and growth can attract new investors or traders. China’s announcement of rate cuts also fuelling bullish momentum in the crypto market, he added.
“Breaking above the 65-day resistance, Binance Coin is currently trading above $600. Bullish market indicate the possibility of more gains, but obstacles include resistance levels and a slowing market. The investors are optimistic for market growth targeting $65,000 for BTC (Bitcoin), $2,700 for ETH (Ethereum), and $650 for BNB (Binance Coin),” Shekhar said.
Cryptocurrency Prices on September 25:
Bitcoin: $64,232.75 (+1.74%)
Ethereum: $2,643.95 (+0.83%)
Doge: $0.11 (+2.23%)
Tether: $1 (0.01%)
Binance Coin: $601 (0.2%).
The value of cryptocurrencies is in the US dollar and may show different trend for the domestic buyers due to exchange rate fluctuations. The Indian rupee currently stands at 83.51 per US dollar.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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