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Cryptocurrency market sees mixed trends; Bitcoin records 3% weekly rise

EditorAmbhini Aishwarya
Published 10/09/2023, 06:41 AM
Updated 10/09/2023, 06:41 AM
© Reuters.

The cryptocurrency market displayed mixed trends this week, with the global market cap recording a slight decrease of 0.8%, totaling $1.09 trillion. The fear and greed index remained neutral at 46.

Bitcoin, the world's largest cryptocurrency, saw a minor daily decrease of 0.21%, with its price standing at $27,890. Despite this, the digital asset recorded a weekly rise of 3%. The Bollinger Bands on Bitcoin are diverging, suggesting increased volatility levels, while the relative strength index (RSI) is above the average line, indicating bullish momentum. Bitcoin's trade volume also experienced an uptick, rising by 7% to reach $7.4 billion.

In contrast, Ethereum's price displayed slight bullish activity despite a 5.4% drop over the week and is currently valued at $1629. Ethereum's trade volume rose by 18% to $3.2B. However, its RSI is below the average line, signifying bearish effects and its Bollinger Bands have diverged, indicating increasing volatility levels.

Meanwhile, Bancor and COTI experienced significant bull activity. Bancor's price stood at $0.6117 and COTI's price was at $0.04382, recording a high daily increase of 11.9%. Bancor's trade volume saw a massive increase of 2275%, standing at $295M, with its RSI in the overbought region indicating bull domination. COTI's trade volume also jumped significantly by 1681% to reach $27.8M.

Lastly, Basic Attention Token (BAT (LON:BATS)) showed a daily increase of 2.8%, but it registered a weekly drop of 3.8%, with its price standing at $0.1776. Its Bollinger Bands are converging, signaling stable volatility levels.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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