Crypto Price Today: BTC Price Soar Above $31,000 While ETH Price Heads Towards $2000

Key Takeaways

• The crypto markets experienced a major push during the close of the last trading day as Bitcoin prices soared above $31,000
• Ethereum and the other altcoins also underwent a significant upswing, closing the day’s trade on a bullish note.
• The bullish momentum has geared up; hence the markets are believed to remain elevated throughout the day.

CRYPTO MARKET TODAY AT A GLANCE

After rising above the extended consolidation below $28,000, the Bitcoin price was stuck around $30,500 for a couple of days. While another prolonged consolidation was expected, the bulls lifted the price above the major resistance at $30,800. The price is trading at $31,261.92, a jump of 1.77% in the past 24 hours. The trading volume has soared by more than 46%, recording levels above $46 billion with a rise in market cap of 1.45% at $600 billion. 

Besides, the Ethereum price is trading at $1963.34, with a minor jump of 0.68%. The other cryptos within the top 10, like Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE), are rising by 2.04%, 1.25%, and 0.86%, respectively. Besides, Binance Coin (BNB), Litecoin (LTC), & Solana (SOL) have dropped by 0.99%, 4.02%, & 1.38%, respectively. Among the top gainers are Render Token (RNDR) with 6.93%, Maker (MKR) with 4.53%, and BitDAO (BIT) with 3.95%. 

*As of 04-July-2023, 09:15 am

Bitcoin Prices Soar Above $31,000

Source: Tradingview

• The Bitcoin price is trading within a bullish ascending triangle and very close to the apex of the consolidation.
• Currently, the price is trading above the major support at the 50-day MA at $30,542.64, which may offer the base in case of a bearish reversal.
• Besides, the ADX is looking for a bullish divergence that may induce the required momentum to breach above the resistance of the triangle.
• Therefore, the BTC price may continue with its consolidation within the resistance zone for a while in the short term, which may be followed by a bullish breakout beyond $31,500.

Read More: Bitcoin Price Prediction

Ethereum Price to Rise Above $2000 Anytime From Now!

Source: Tradingview

• The Ethereum price is trading within a rising wedge pattern, which is largely believed to be bearish in the long term.
• The price is trading close to the upper resistance of the channel and is believed to maintain a consolidated trend for a while
• However, the RSI is heading towards the south, due to which the price may also experience a bearish breakdown.
• Therefore, the price may drop towards the interim support at $1930 before initiating a rise beyond $2000

Additional read: Ethereum Price Prediction

Latest Updates of the Crypto Market

• BlackRock has re-filed for spot Bitcoin ETF and named Coinbase as its previously unstated surveillance partner. 
• Poly Network, a well-known blockchain interoperability platform, lost more than $5 million in a hack that exploited Ethereum, Binance Chain, Polygon, Avalanche, Optimism, and five other chains.
• South Korea passed the digital-asset bill to boost investor protection, which integrates 19 crypto-related bills.
• After Singapore, Thailand announced a ban on crypto exchanges offering lending services to retail customers.

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