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While Selling Pressure Subsides, BTC Struggles To Reclaim Positions, Currently Trading At $62.3k.

By May 14, 20241 minute read

The price of Bitcoin is $62,487.65. There was a 2.23% increase in its price in the last 24 hours. The 7-day Bitcoin is down by 1.20%.

Ethereum (ETH) is currently trading at $2,942.15. There has been an increase of 1.89% in its price in the last 24 hours. The 7-day ETH is down by 3.63%.

Bitcoin (BTC) has gradually declined from its all-time high of $72,800, now hovering at $62,535. Despite weakened selling pressure, sustained closure above averages eludes Bitcoin. Post-FED interest rate decision, Bitcoin attempted a recovery but faced renewed selling pressure. Currently finding support at EMA100, Bitcoin’s short-term resistance levels stand at $61,490, $62,680, and $63,161. Meanwhile, support lies at $60,338, $60k, and EMA200 at $53,087.

As of 09:30 AM, 14th May 2024, on WazirX, Bitcoin’s current price is ₹54,82,412. Its price has increased by 0.68% in the last 24 hours. In the past seven days, Bitcoin has decreased by 1.13%.

Ethereum (ETH) is trading at ₹2,60,901, up by 0.74% in the last 24 hours. The 7-day ETH is down 3.54%.

The top gainers on WazirX include Pepe (PEPE), Chromia (CHR), and Floki Inu (FLOKI), with price increases of 18.42%, 17.95%, and 13.72%, respectively.

However, the tokens that underperformed comprised Band Protocol (BAND), Pixels (PIXEL), and bitsCrunch (BCUT), with a price decrease of 13.54%, 11.07%, and 9.68%, respectively.

Shiba Inu (SHIB) saw a price increase of 4.75% and is now priced at ₹0.002047. Dogecoin (DOGE) saw an increase of 6.03% and is now priced at ₹13.1499.

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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