Bitcoin Climbs to $118K as Ethereum Hits 7-Month High Around $3,800

Bitcoin prices and Ethereum prices maintained strong positions on Monday, trading above $118,000 and $3,700 respectively. At the time of writing, the total crypto market cap saw a marginal gain of 1.27 per cent to $3.92 trillion, even as the 24-hour trading volume increased by 43.97 per cent to $140.69 billion.

Bitcoin was the most trending cryptocurrency. Its price was up by 0.31 per cent to $118,362.47. Its 24-hour trading volume was $60.26 billion. Elsewhere, Conflux CFX was the top gainer. It was up by 95.46 per cent, and its 24-hour trading volume was $474.05 million. Tezos XTZ was the top loser, and it was down by 6.85 per cent, while its 24-hour trading volume was $769.51 million.

The DeFi market cap was at $46.78 billion, Coinmarketcap.com reported.

CoinSwitch Markets Desk said that BTC is currently trading around the $118,400 level and continues to move within a triangular consolidation pattern. At present, BTC is testing a key resistance trendline that has repeatedly capped its price from breaking out to new all-time highs above $123K.

While Bitcoin remains in a consolidation period, attention is shifting towards other coins. ETH recently surged to a seven-month high above $3,800. This sideways BTC action is contributing to a rotation of capital into altcoins, it added.

Cryptocurrency Prices

Bitcoin (BTC): Bitcoin prices were up by 0.31 per cent to $118,362.47. Its 24-hour trading volume was $60.21 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 62.60 per cent.

Ethereum (ETH): Ethereum prices were up by 2.89 per cent to $3,763.48. Its 24-hour trading volume was $44.61 billion, and its market dominance was 9.2 per cent.

Tether (USDT): Tether was trading at $1.00. It was down by 0.02 per cent. Its 24-hour trading volume was $128.60 billion. It is currently ranked third on Coinmarketcap.

Other Altcoins

Solana prices were up by 4.72 per cent to $186.06. Its 24-hour trading volume was $6.88 billion.

Avalanche AVAX was trading at $25.47, up by 3.46 per cent. Its 24-hour trading volume was $733.75 million.

Cardano ADA was trading at $0.8690, up by 3.69 per cent. Its 24-hour trading volume was $1.84 billion.

Meme Coins

Dogecoin was up by 7.25 per cent, with a 24-hour price of $0.2736.

Shiba Inu was up by 3.07 per cent to $0.00001552.

Decentralised Finance

DeFi Coin was up by 5.24 per cent, and it was trading at $0.003341.

Yearn Finance was up by 1.38 per cent to $6,226.38, with a 24-hour trading volume of $26.8 million.