Crypto Price Today Live: Bitcoin holds above $20,000; Polygon & Ethereum rise up to 5%

economictimes.indiatimes.com:

Bitcoin holding above the key psychological level of $20,000. The asset class seems increasingly likely to remain in the same price rut until the release of inflation numbers later this month and Federal Reserve's meeting outcome, said analysts. Barring Tron and US dollar-pegged Tether, all other tokens were trading higher on Friday. Polygon zoomed over 5 per cent, whereas Polkadot gained 3 per cent. Ethereum and Cardano gained more than 2 per cent each. The global cryptocurrency market cap was trading higher at the $990.26 billion mark, dropping more than a per cent in the last 24 hours. However, the total trading volume dropped about 8 per cent to $62.76 billion.

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Expert TakeEdul Patel, CEO and co-founder Mudrex said despite the fall, Bitcoin has not gone below the $19,000 level, which means that we might see its price trade sideways, thanks to concerns over the FOMC minutes and macroeconomic uncertainty. «The second largest cryptocurrency, Ethereum, has been outperforming Bitcoin for quite some time now due to its recent network activity and the upcoming Merge,» he added. «It may likely break out of the $2,000 level before the Merge.» The overall crypto market seems to have digested the anticipated rate hike and strict monetary policy indicated by Federal Reserve as there were no major fluctuations, said Tarusha Mittal, COO, UniFarm. «Crypto investors are loyal and long-term holders of crypto assets can beat inflation and create long-term wealth. The selling pressure is expected to cool down in the coming weeks as the upcoming festive