Bitcoin consolidates to $33,984 as cryptos recover

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Staff Reporter
Islamabad

The prices of major cryptocurrencies remained on upward slide on Sunday, with the market cap increasing to $1.45 trillion (+0.3 percent) as of 1405 GMT.

The price of Bitcoin (BTC), the largest cryptocurrency, increased to $33,984 after gaining 0.88 percent. With this increase in price, the market capitali-sation of the BTC has reached $637 billion.

Likewise, ethereum (ETH) price gained 2 percent to reach $2,137. With this increase in price, the market capi-talisation of ETH has reached $249.3 billion.

Similarly, XRP gained 1.99 percent to reach $0.632. The market capitalisa-tion of XRP stands at $63.1 billion af-ter this increase.

On the other hand, Cardano (ADA) price reached $1.34 with a 1.46 percent increase in its price. Its market capi-talisation has reached $43.3 billion with this increase. However, Dogecoin (Doge) price ap-preciated by 0.09 percent to reach $0.215.

With this increase in price, the market capitalisation of Doge reached $28 billion.Meanwhile, popular cryptocurrency trader Keith Wareing warned Bitcoin (BTC) traders about a critical bearish scenario brewing in the market.

The trader spotted Bitcoin inside an in-verse cup-and-handle pattern earlier this month, a bearish structure that forms during a price wave downward, followed by a stabilising period.

The technical design typically leads the price lower by as much as the size of the previous decline.Bitcoin topped near $65,000 in mid-April before reversing to the downside in later sessions.

The cryptocurrency crashed to as low as $28,800 on June 22 after attempting to keep prices above $30,000 repeatedly.

It success-fully did so but fell short of extending its bullish reversal momentum after facing comparatively higher selling pressure in the $35,000–$36,000 range.

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