Quick analysis of cryptocurrency prices on January 30: The worldwide market capitalization climbed to $1.67 trillion.

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, rose above $43,000 early Tuesday as investors focused on the approaching US FOMC meeting today and its decision on the benchmark interest rate. Other major coins, like as Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), performed well across the board. The PENDLE token was the greatest gainer, with a 24-hour increase of more than 15%. MNT, on the other hand, became the biggest loser, with a 24-hour drop of more over 5%.

At the time of writing, the worldwide cryptocurrency market capitalization was $1.67 trillion, up 2.27 percent in 24 hours.

Bitcoin (BTC) Price Today
According to CoinMarketCap, the bitcoin price was $43,544.23, representing a 2.92 percent increase in the previous 24 hours.

Ethereum (ETH) Price Today
At the time of writing, the price of ETH was $2,311.67, a 1.74 percent increase over the previous 24 hours.

Dogecoin (DOGE) Price Today
According to CoinMarketCap data, DOGE increased by 3.41 percent in the last 24 hours and is now trading at $0.08174.

Litecoin (LTC) Price Today
Litecoin gained 0.26 percent over the course of 24 hours. At the time of writing, it was trading at $68.18.

Ripple (XRP) Price Today
The XRP price was $0.5374, representing a 1.82 percent increase in the last 24 hours.

Solana (SOL) Price Today
Solana was trading at $102.17, up 4.49 percent in 24 hours.

Quick take on the cryptocurrency price on January 4: The worldwide market capitalization fell to $1.65 trillion.

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, fell below the $43,000 range early Thursday as crypto prices face significant headwinds. Popular altcoins like as Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE) all finished in the reds. The SEI token went on to become the greatest gainer of the bunch, with a 24-hour gain of more over 12%. Terra Classic (LUNC), on the other hand, became the greatest loser, with a more than 15% drop in a 24-hour period.

At the time of writing, the worldwide crypto market valuation was $1.65 trillion, a 5.01 percent drop in a 24-hour period.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $43,156.95 after a 4.64 percent drop in the previous 24 hours.

Ethereum Price Today
At the time of writing, the price of ETH was $2,236.07, representing a 5.71 percent 24-hour loss.

Dogecoin Price Today
DOGE fell 10.08 percent in a 24-hour period, according to CoinMarketCap data, and is now trading at $0.08239.

Litecoin Price Today
Litecoin lost 10.82 percent in a 24-hour period. It was trading at $65.45 at the time of publication.

Ripple Price Today
The price of XRP was $0.5833 after a 7.35 percent drop in the previous 24 hours.

Solana Price Today
Solana’s price was $100.690, representing a 6.66 percent drop in a 24-hour period.

Summary of the 11th of September’s cryptocurrency price: The value of the entire market fell to $1.03 trillion.

The world’s oldest and most valuable cryptocurrency, Bitcoin (BTC), fell below the $26,000 threshold over the weekend, casting a bleak shadow over the market as a whole. This decline is thought to have been brought on by news that troubled crypto lender FTX was planning to sell off its $3.3 billion worth of crypto assets, which incited a’sell’ mood among individuals. All of the well-known cryptocurrencies, including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), fell in value. The Stellar (XLM) coin eventually emerged as the top gainer, rising more over 3 percent in a single day. Memecoin Pepe (PEPE), which experienced a 24-hour decline of about 8%, emerged as the largest loser.

At the time of writing, the market capitalization of all cryptocurrencies was $1.03 trillion, down 0.79 percent over the previous 24 hours.

Bitcoin Price Today
According to CoinMarketCap, the price of one bitcoin was $25,719.69, a decrease of 0.52 percent over the previous day. BTC’s current price was Rs 22.50 lakh, according to Indian market WazirX.

Ethereum Price Today
At the time of writing, the price of ETH was $1,608.83, a drop of 1.29 percent over the previous 24 hours. According to WazirX, the price of ethereum in India was Rs. 1.41 lakh.

Dogecoin Price Today
According to data from CoinMarketCap, the 24-hour price of DOGE, which is presently trading at $0.06118, fell by 2.83 percent. Dogecoin’s price in India was Rs 5.36, according to WazirX.

Litecoin Price Today
The 24-hour loss for Litecoin was 2.41 percent. Its price at the time of writing was $61.25. In India, LTC was priced at Rs 5,340.

Ripple Price Today
The price of XRP was $0.4961, down 1.07 percent over the previous 24 hours. The price of ripple was Rs. 43.01, according to WazirX.

Solana Price Today
Solana price was $18.35, down 4.32 percent over the previous 24 hours. SOL cost Rs 1,624 in India, according to WazirX.

Below is a direct excerpt from Marty’s Bent Issue #1243: “Is Bitcoin a new form of property in the eyes of the law? Subscribe to the newsletter here.

Preston Byrne makes a strong case that Bitcoin will eventually be labeled as a new type of asset and its understanding could be different in the US and England.

This is a very interesting blog post in which Preston Byrne expands on an idea he’s been publishing since 2018: Bitcoin represents a new type of property and it will eventually be recognized by a court sometime in the future. If you’re looking for something to poke at in this bear market, your Uncle Marty thinks it’s a very stimulating exercise in trying to understand how Bitcoin is and how it probably should be viewed in the eyes of the courts.

As you can see above, Bitcoin is truly unique as a type of asset because it doesn’t actually physically exist in any one place because the ledger is kept in an extremely distributed way and it doesn’t sit. neatly into any definition of property that has yet been established. Furthermore, the nature of control over a UTXO is determined by a private key that can be signed by the person who created it, by someone who gained access to it through dishonest means, or by someone who used a very powerful computer to guess it. . When these factors come together, it’s clear—as Preston points out—that we’re dealing with a special animal.

I’m not really sure how things like taxes will change if and when a court in the US or England sets a precedent that marks Bitcoin as a new type of asset, but I’m inclined to agree that it makes sense for Bitcoin to set a new precedent. Never before has humanity interacted with an asset of this type. Treating it the same as real estate, precious metals, or other types of physical assets never made intuitive sense to me. To be clear, I think this is a positive thing for Bitcoin. The fact that UTXOs don’t really exist in one place, but in a globally distributed ledger, and that you can store private keys in your head has always led me to believe that Bitcoin is simply information – specifically, speech.

If bitcoin is labeled as speech that is not performed in any particular place but everywhere at once, I think that could reduce the ease with which any individual court within a relatively fair legal system in any particular jurisdiction could try to declare bitcoin for taxable within its borders. . Defining this new type of property as something owned by someone but not in a specific location greatly increases plausible deniability, making it much more difficult to enforce local laws on bitcoin owners.

Bitcoin (BTC) hit a quick six-week high by July 29 as the fallout from the latest macro development boosted risk assets.

BTC/USD 1 Hour Candlestick Chart (Bitstamp). Source: TradingView
A monthly closing could seal 20% profits
Data from Cointelegraph Markets Pro and TradingView captured local highs of $24,445 for BTC/USD on Bitstamp, the best since the week beginning June 13.

After consolidating around $23,000, bulls got a second wind to push the market higher on the back of the latest US Federal Reserve rate hike and GDP data confirming the US is now in recession.

Risk assets outperformed overall, with bitcoin and altcoins joining gold to give traders and analysts reason for a positive outlook.

Gold #GOLD $GLD $GC_F held the bottom of the 23-month rectangle (yellow), which will serve as a handle for the massive C&H. The bull market has begun. Prices are heading north. The goal aimed for $3,000 over the next few years.

“This is getting interesting,” chain monitor Material Indicators tweeted in an update to its short and long signal thread for the June 28 BTC/USD daily chart. He observed the potential for Bitcoin to reach a higher high (HH). next:

“All trend spotting signals are printed on the Long D chart, plus the 21-DMA and 50-DMA unwinds. If BTC can form a HH, there will be a small friction to the next HH and then the macro channel will go into the YES range, it is still a bear market rally.”

Material Indicators added that $25,000 would also be a key price level to watch if the higher high at $24,300 holds for the day’s close.

“If this rally can get past $25,000 then $28,000 will take center stage very quickly,” read part of another post.

“The parabolic downtrend from ATH has been broken,” Blockware Chief Analyst William Clemente, meanwhile, summed up in a skewed alternative view of BTC’s current price performance in 2022.

From the same point last week, BTC/USD is up a modest 4% at the time of writing. With two days left until July’s weekly close, the pair was on track to close out monthly gains of over 20%, data from Coinglass confirmed.

BTC/USD monthly returns chart (screenshot). Source: Coinglass
Key support ETH eyes regained above $1,700
Altcoins were similarly rosy on the day as Ether (ETH) breached $1,700 to challenge the highs of the week dating back to June 6.

Related: 3 Bitcoin Trading Behaviors Suggest BTC’s Return to $24,000 Is a ‘Fakeout’

Does it scare you or get you very, very excited? #ETH

While Material Indicators toyed with the idea of another retracement and a lower low well below $1,000, others acknowledged the strength of short-term price action across altcoins.

“$ETH, like many altcoins, successfully retested old resistances to new supports and has rebounded strongly since then,” commented popular trader and analyst Rekt Capital.

Strong rebound from $ETH after successful retest

ETH is slowly approaching the next immediate resistance (upper orange box)

ETH would need to regain the bottom of this box as support if it is to move higher #ETH #Crypto #Ethereum

Additional analysis called for ETH/USD to reclaim the support zone starting around $1,730 for a continuation.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Cointelegraph.com. Every investment and trading step involves risk, you should do your own research when making a decision.

Cryptocurrencies have been hit hard by fears that interest rate hikes will end the era of cheap money, with the world’s biggest digital asset, bitcoin, down more than 56% from this year’s high. Several crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

Singaporean crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1. Once a formidable player in the digital asset space, 3AC’s downfall appeared to stem from the firm’s bet on the Terra ecosystem, which was behind it. terraUSD stablecoin failed. The token lost almost all of its value in May, draining nearly half a trillion dollars from the crypto market.

The highly leveraged 3AC was unable to meet calls for additional payment from the counterparties it borrowed from. As a result, crypto lenders BlockFi and Genesis Trading liquidated their positions in the firm. According to court filings, 3AC’s creditors say they are owed more than $2.8 billion.

CELSIUS NETWORK New Jersey-based crypto lender Celsius suspended withdrawals on June 12 and filed for Chapter 11 bankruptcy a month later, listing a $1.19 billion deficit on its balance sheet. It was valued at $3.25 billion in an October funding round. Celsius encountered complex investments in the wholesale digital asset market.

The company lured retail investors by promising annual returns of up to 18.6%, but struggled to meet redemptions as cryptocurrency prices fell. In its first bankruptcy filing, lawyers for Celsius said bitcoin mining could provide the company with a way to repay customers. Meanwhile, several state regulators are investigating Celsius’ decision to suspend customer selection, Reuters reported.

Crypto lender Voyager Digital, also based in New Jersey, has been a rising crypto star, reaching a market capitalization of $3.74 billion last year. But the collapse of 3AC dealt a major blow to Voyager, which was heavily exposed to the hedge fund. Voyager filed claims of more than $650 million against 3AC.

Voyager filed for Chapter 11 bankruptcy on July 6 and announced that it has $110 million in cash and crypto assets. Since then, the US Federal Deposit Insurance Corp has confirmed that it is investigating Voyager’s marketing of deposit accounts for cryptocurrency purchases that the company advertised as FDIC insured.

Crypto exchange FTX and Alameda Research, both founded by billionaire Sam Bankman-Fried, offered to buy all of Voyager’s digital assets and loans, with the exception of 3AC’s loans, and allowed Voyager customers to withdraw their assets from the FTX account. Voyager, however, dismissed the offer as a “low price offer” in a court filing.

Singaporean crypto lender Vauld filed for protection from its creditors in a Singapore court on July 8 after suspending withdrawals a few days ago. The company owes its creditors $402 million, The Block reports. Vauld is backed by billionaire investor Peter Thiel’s Valar Ventures, Pantera Capital and Coinbase Ventures. In a July 11 blog post, Vauld said it is discussing a possible sale to London-based crypto lender Nexo while exploring potential restructuring options.

Faced with a surge in withdrawals and a hit from 3AC, crypto lender BlockFi signed an agreement with FTX on July 1 that provides BlockFi with a $400 million revolving credit facility and includes an option that allows FTX to buy the company for up to $240 million.

BlockFi was hit hard by the cryptocurrency crash and implemented several cost-cutting measures in June, including cutting staff by 20% and reducing executive compensation. The company was valued at $3 billion in a funding round last year.