Crypto Price Today: Bitcoin holds above $30,200; Cardano, Litecoin tank over 3%

economictimes.indiatimes.com:

cryptocurrency markets were majorly trading in the red on Monday. Bitcoin (BTC) fell 2% to $30,221, whereas Ethereum (ETH) was below the $1,900 level. BTC volume stood at approximately $13.19 billion, rising 5.23% in the last 24 hours. «Bitcoin soared to a one-year high, surpassing the US$31,000 mark on Friday. However, it has since entered a consolidation phase, stabilizing around the US$30,000 level within the past 24 hours,» Edul Patel, Co-founder, and CEO at Mudrex, said. «With a notable increase of over 14% in the last seven days, Bitcoin has garnered positive investor sentiment. The key challenge for Bitcoin is to maintain its position above the crucial US$30,000 level, which could potentially trigger further upward movement. BTC's support level is currently set at US$29,500,» Edul added. Other top crypto tokens were also trading in the red. Cardano, Litecoin, and Polygon declined over 3% each. The global cryptocurrency market cap was trading lower, around $1.18 trillion, falling 2% in the last 24 hours.

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The market cap of Bitcoin, the world's largest cryptocurrency, was around $586 billion. Bitcoin's dominance is currently 49.90%, a decrease of 0.13% over the day, according to CoinMarketCap. «With Bitcoin hovering around $30,184, market participants are closely watching the key psychological support level of $30,000. A break below this level could potentially push Bitcoin towards the $28,250 mark,