Market Update – The Price of Bitcoin Experiences Almost No Changes Compared to Yesterday
The market’s largest cryptocurrency by capitalization is now trading at $36,236.53, very close to the $36,984.55 it traded yesterday more or less at the same time. This means that the market has seen very few changes in comparison to yesterday’s level, mainly because of the lack of triggers.
While some might have thought the news that India’s central bank has warned banks they should not make reference to an outdated circular to ban crypto-related companies from using their services would have a positive effect on the market, the truth is that the dynamics of the most popular cryptocurrencies have not changed.
At the same time, we have also reported that deposits and withdrawals from Korean crypto trading platforms to the country’s banks have hit a new record, which shows the increasing popularity of digital assets in the country.
The Bitcoin dominance index has fallen 0.7% from yesterday’s 42.9% to the 42.2% we have today, which again shows the demand for altcoins is growing. As far as the market’s trading volume is concerned, we must say it has increased a little from yesterday’s level to $110,051,801,642.
We are just on the second day of the workweek, so there is a still time for BTC to hit new levels this week. Will it reach on time?