The relative strength of Bitcoin declined
Bitcoin (BTC) remained close to the $23,000 level on Saturday (January 28) as markets continued to react to the US Personal Consumption Expenditure Index data released on Friday.
Following a high of $23,417.72 late Friday, Bitcoin fell to a daily low of $22,880.60 early Saturday. This happened as Bitcoin once again failed to break out of the key resistance level at $23,500, leading to a revival of bearish sentiment.
Now, the 14-day Relative Strength Index (RSI) has dropped below the 80.00 level, and if the downward movement continues and Bitcoin fails to overcome the current level, it is likely to hit the $22,400 floor.
After briefly returning to above $1,600 late on Friday, Ethereum once again started the weekend lower. Ethereum fell to a low of $1,568.69 on Saturday, less than a day after reaching a peak of $1,617.00.
Volatility in Ethereum has increased in recent days, and after weeks of overbought price strength has begun to wane, with the 14-day Relative Strength Index now sitting below its low of 63.00.
The total value of the global digital currency market is currently estimated at 1.06 trillion dollars, which is 0.12% lower than the previous day. Currently, 42.29% of the total digital currency market is owned by Bitcoin, which has increased by 0.17% in one day.
The total volume of the digital currency market in the last 24 hours is 40.02 billion dollars, which has decreased by 20.63%. The total volume in decentralized finance is currently $3.67 billion, which is 9.16% of the total 24-hour cryptocurrency market volume. The volume of all stablecoins is now $35.75 billion, which is 89.32% of the total 24-hour cryptocurrency market volume.
Digital currency price update (up to 08:15 EST)
This category contains the price changes of the 10 largest digital currencies in terms of market capitalization.
1- Bitcoin
Price: 23 thousand and 209.31 dollars
Price changes in the last 24 hours: 0.42% increase
Price changes in the last week: 1.66% increase
2- Ethereum
Price: $1,595.58
Price changes in the last 24 hours: 0.35% decrease
Price changes in the last week: 1.89% decrease
3- Tether
Price: $1.00
Price changes in the last 24 hours: 0.00% increase
Price changes in the last week: 0.01% increase
4- Binance Coin
Price: $307.96
Price changes in the last 24 hours: 0.38% decrease
Price changes in the last week: 2.21% increase
5- USD coin
Price: $1.00
Price changes in the last 24 hours: 0.00% increase
Price changes in the last week: 0.00% decrease
6- Ripple
Price: $0.4105
Price changes in the last 24 hours: 0.42% decrease
Price changes in the last week increased by 1.27%
7- Cardano
Price: $0.3855
Price changes in the last 24 hours: 1.39% decrease
Price changes in the last week: 5.27% increase
8 – Dogecoin
Price: $0.08874
Price changes in the last 24 hours: 0.09% increase
Price changes in the last week: 3.79% increase
9- Solana
Price: $24.09
Price changes in the last 24 hours: 2.14% decrease
Price changes in the last week: 5.12% decrease
10-Polka dot
Price: $6.50
Price changes in the last 24 hours: 1.54% decrease
Price changes in the last week: 3.98% increase