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Recent Optimism In The Market Is Attributed To The Bitcoin ETF Approvals By The SEC

By October 31, 20232 minute read

The current price of Bitcoin (BTC) is $34,328.23, with an almost 0.24% decrease in the last hour. There was an increase of 0.07% in its price in the last 24 hours. The 7-day Bitcoin was down by 0.83%.

Ethereum (ETH) is currently trading at $1,801.53, with an almost 0.37% decrease in the last hour. There has been a 0.91% increase in its price in the last 24 hours. The 7-day ETH has been down by 1.09%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 33343 and 27757, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” at 33699 and 28269, respectively. Exponential and Simple Moving Averages show a “Buy” sentiment.

The Ichimoku Base Line, valued at 30866, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 34568. The Volume Weighted Moving Average at 31428 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 80, with a sell indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 90 and 56, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 1914 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 75 with a “Neutral” indicator, while the Williams Percent Range (14) at −13 signals “Sell.”

As of 10:00 AM, 31st October 2023, on WazirX, Bitcoin’s current price is ₹29,73,772, with an almost 0.271% increase in the last hour. There was a 0.52% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 0.36%.

Ethereum (ETH) is trading at ₹1,55,096, with an increase of 1.5% in the last hour. There was an increase of 0.88% in the last 24 hours. The 7-day ETH is down by 0.94%.

The top gainers on WazirX include Viberate (VIB), THORChain (RUNE), and BitTorrent (BTTC), with price increases of 24.27%, 21.1%, and 14.57%, respectively.

However, the tokens that underperformed comprised Injective Protocol (INJ), Stacks (STX), and MOBOX (MBOX), with a price decrease of 6.68%, 6.47%, and 6.1%, respectively.

Shiba Inu (SHIB) saw a price increase of 0.01% and is now priced at ₹0.000691. Dogecoin (DOGE) saw an increase of 1.06% and is now priced at ₹6.0334.

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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