Crypto Price Today Live: Bitcoin Falls Below $28,000; Dogecoin, Shiba Inu lost up to 7%

Cryptocurrency markets were trading in the red on Monday. Bitcoin (BTC) fell 2.62% to $27,706, while Ethereum (ETH) was below the $1,800 level. BTC volume stood at around $13.60 billion, up 28.72% in the past 24 hours.

“Bitcoin has been trading below the US$28,000 zone for the past 24 hours as investors await further US productivity and employment data this week. Immediate support lies at the US$27,500 level while resistance lies at the US$28,100 area and the trendline,” said Edul Patel, co-founder and CEO of Mudrex.

Other top crypto tokens were also trading lower. Dogecoin is down more than 7%. Shiba Inu, Solana and BNB were also trading lower. The global cryptocurrency market capitalization traded at around $1.16 trillion, down 2.27% in the past 24 hours.

Total DeFi volume is currently 3.62 billion, or 10.61% of the total 24-hour crypto market volume. The volume of all stablecoins is now $29.78 billion, or 87.42% of the total 24-hour crypto market volume.

The market capitalization of Bitcoin, the largest cryptocurrency in the world, was around $536.28 billion. Bitcoin dominance is currently at 46.21%, down 0.16% on the day, according to CoinMarketCap.

“Bitcoin’s current price is $27,600 and is hovering around a key trading range of $28,200-$28,900. A definite breakout of this range will play a significant role in determining the future direction of the price. of bitcoin,” Sathvik Vishwanath, co-founder and CEO of Unocoin, said.

Rajagopal Menon, VP of WazirX, said: “Major market oscillators indicate neutral sentiment. Relative Strength Index (14) stands at 62.71, with a neutral outlook. Stochastic %K (14 , 3, 3) and the average Directional Index (14) also indicates a neutral outlook at 69.33 and 38.60 respectively.” The MACD level (12, 26), at 1198.04, indicates a sell-off. The Rapid Stochastic RSI (3, 3, 14, 14) and Williams Percent Range (14) continue to be neutral at 30.11 and -41.78, respectively,” added Menon.