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Bitcoin Experienced A Notable Rejection At $48k, Showcasing Heightened Volatility & Uncertainty Ahead Of BTC ETF Approval

By January 10, 20242 minute read

The current price of Bitcoin (BTC) is $46,187.64, with an almost 0.33% increase in the last hour. There was a decrease of 1.52% in its price in the last 24 hours. The 7-day Bitcoin was up by 2.18%.

Ethereum (ETH) is currently trading at $2,355.87, with an almost 0.45% decrease in the last hour. There has been a 1.91% increase in its price in the last 24 hours. The 7-day ETH has been down by 0.43%.

The Exponential Moving Average for 10-days and 200-days indicate “Buy” sentiment at 44913 and 34489, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate “Buy” at 44770 and 32770, respectively. The Simple Moving Average shows strong “Buy” sentiments.

The Ichimoku Base Line, valued at 44205, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 46633. The Volume Weighted Moving Average at 44057 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 62, with a neutral indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 81 and 19, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 1053 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 82 with a “Neutral” indicator, while the Williams Percent Range (14) at −25 signals neutral sentiment.

As of 10:00 AM, 10th January 2024, on WazirX, Bitcoin’s current price is ₹41,30,000, with an almost 1.08% decrease in the last hour. There was a 0.66% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 1.95%.

Ethereum (ETH) is trading at ₹2,10,400, with an increase of 2.96% in the last hour. There was an increase of 1.77% in the last 24 hours. The 7-day ETH is up by 0.33%.

The top gainers on WazirX include Helium (HNT), Perpetual Protocol (PERP), and Bonk (BONK), with price increases of 26.34%, 19.26%, and 18.08%, respectively.

However, the tokens that underperformed comprised The Graph (GRT), Band Protocol (BAND), and Aave (AAVE), with a price decrease of 9.41%, 9.3%, and 9.24%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.11% and is now priced at ₹0.000850. Dogecoin (DOGE) saw a decrease of 0.25% and is now priced at ₹7.1819.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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