Bitcoin regains $29,500, Ethereum falls below $1,850, Shiba Inu and Solana each gain 5%

Bitcoin climbed more than 2% to reclaim the 29,500-mark, while Ethereum was trading higher, up more than 1% but unable to break above $1,850-levels.

Bitcoin and other major cryptocurrency tokens were mainly higher on Wednesday, ahead of important economic data anticipated later this week. The entire Bitcoin story has turned to the Bitcoin ETF, which has been less volatile recently since the $30,000 mark has become a crucial benchmark. However, macros continue to be important.

Bitcoin was back in action on Wednesday, with the largest crypto asset gaining more than 2% to reclaim the 29,500-mark. However, its greatest peer, Ethereum, was trading higher, up more than a percent, although it was unable to go beyond $1,850. The price action in the major altcoins was positive.

Bitcoin values surpassed $30,000 before stabilising over the $29,500 mark. This shift could be attributed to China’s lower July trade data, as well as a decline in the US 10-year Treasury yield. Solana, Shiba Inu, Hedera, and TonCoin have all gained Ethereum in the last 24 hours, with the price remaining between $1,800 and $1,900.

With a few exceptions, all of the biggest cryptocurrency tokens were trading higher on Wednesday. Shiba Inu and Solana both rose more than 5%, while Polygon gained 4%. XRP gained 3%, while Cardano, Polkadot, and Litecoin each gained 2%. Bitcoin Cash and Tron were among the losers, both losing approximately 1%.

The worldwide cryptocurrency market cap was trading much higher, reaching $1.19 trillion after increasing as much as 2% in the previous 24 hours. However, total trade volumes increased by roughly 13% to $36.67 billion.