Today’s Cryptocurrency Prices: Bitcoin Maintains $26,000, Ethereum Surpasses $1,650, Majority of Altcoins Traded at Higher Prices
**Cryptocurrency Market Recovers from Previous Day’s Cuts**
*Bitcoin and other crypto tokens recovered from the previous day’s cuts and inched slightly higher. However, the gains were capped as the market sentiments turned further bearish. Bitcoin rebounded from under-$26,000 levels but the lack of new catalysts put a brake on the rally in the markets.*
**Bitcoin and Ethereum Show Minor Gains**
Bitcoin remained range-bound and inched up slightly to firm at $26,000-levels. Ethereum, the largest peer of Bitcoin, moved in a similar line and paved its position above the $1,650-mark. Meanwhile, the price action in the altcoins was on the higher side during the early trade.
**Market Sentiments Continue to be in Fear Zone**
The crypto market has traded sideways with minor gains in the past 24 hours. The crypto fear and greed index has shown no change since yesterday and continues to be in the fear zone with a score of 39/100. According to Shubham Hudda, Senior Manager at CoinSwitch Markets Desk, the market has been witnessing one of its lowest trading volumes in a very long time.
Hudda also highlighted that the bear cycle of Bitcoin has already crossed more than 500 days, making it the longest bear market in the entire crypto lifecycle. In a major announcement, Mukesh Ambani revealed that Jio’s financial services division may start offering blockchain-related products, such as the recently launched e-Ruppee.
**Top Crypto Tokens Show Slight Gains**
With a few exceptions, all top crypto tokens were trading slightly higher on Tuesday. Polkadot gained more than 3 per cent, while Shiba Inu posted similar gains. Toncoin, Cardano, and Polygon advanced about 2 per cent each. On the other hand, Tron shed more than a per cent, while Solana was slightly down.
**Global Cryptocurrency Market Cap and Trading Volumes**
The global cryptocurrency market cap was trading marginally higher, rising to the $1.05 trillion-mark. However, the total trading volumes surged more than 38 per cent to $24.26 billion.
**Tech View by WazirX Trade Desk**
Galxe (GAL) is one of the foremost Web3 credential data networks globally. The GAL/USDT price gained over 8% yesterday with the RSI almost touching the 60 level after nearly four and half months. The daily trend has been traversing within a descending channel pattern but has recently bounced back and is approaching the upper trendline with a surge in trading volume. The next resistance is expected at 1.375 USDT and an immediate support is expected at 1.15 USDT.
*Please consult your financial adviser before taking any position in the assets mentioned.*
**News Articles Referenced**
– [APL Apollo Tubes shares in focus on report promoters may sell 0.85% stake via blocks deals today](https://www.businesstoday.in/markets/company-stock/story/apl-apollo-tubes-shares-in-focus-on-report-promoters-may-sell-085-stake-via-blocks-deals-today-396002-2023-08-29)
– [Paytm, ITC, Zomato, Axis Bank shares: As foreign inflows fall, here’s how FPI favs fared in August](https://www.businesstoday.in/markets/stock-picks/story/paytm-itc-zomato-axis-bank-shares-as-foreign-inflows-fall-heres-how-fpi-favs-fared-in-august-396011-2023-08-29)
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