Bitcoin price on Tuesday
October 26 continued to rise in the cryptocurrency market. Bitcoin, which is the largest cryptocurrency in the world in terms of market capitalisation, had touched a record high of $67,139 last week, following the launch of the first Bitcoin futures exchange-traded fund (ETF) at the New York Stock Exchange.
The crypto was trading at $62,737.49at at the time of writing this article, which is a 0.01 percent gain in the last 24 hours.
“Bulls are making it large as Bitcoin skyrocketed to the new all-time high of $66,999. BTC is trading in a steep uptrend and has surged almost by 64 percent within a month. The asset faced resistance at the $67k mark and witnessed some profit bookings at these levels as the price corrected almost by 11 percent from the peak and made the weekly low of $59,650. If the price holds the support of $59,500 then the bulls may resume the up move,” said the ZebPay Trade Desk.
Meanwhile, the global crypto market cap was soaring at $2.63 trillion on Tuesday. This was a 1.16 percent increase over the last 24 hours, data available at CoinMarketCap showed. . The total volume of the crypto market over the last day stood at $99.69 billion, which pointed out that there was a decrease of 4.67 percent over the course of the last 24 hours.
As per information CoinMarketCap, the total volume in Defi was $14.81B billion, which makes up 14.86 percent of the total crypto market volume over the ourse of the last 24 hours.
Other popular altcoins, including Ethereum and Solana, also followed similar trends like Bitcoin and soared in the last 24 hours. Ethereum, at the time of writing this article, was trading at $4,211.74. Similarly, Solana was up by 2.21 percent over the past day. One unit of this altcoin cost $209.01 at the time of writing this article.
“Top cryptocurrencies such as Ethereum and Solana followed a similar trend (like that of Bitcoin), rising 2.39 percent and 4.66 percent in the past day. Following last week’s crypto rally where a record US$1.47 billion of crypto fund inflows were invested, these latest positive developments of growing institutional acceptance and progress towards mass-market adoption cement crypto’s position as a kingmaker for the future of finance,” said CoinDCX Research Team on Tuesday.