Last week the market faced a chain of important economic data. Where the data has changed market sentiment including the crypto market. Today, the crypto market is trading in the green as cryptocurrencies show gains today, following Genesis' announcement to reach an agreement with Digital Currency Group and Gemini. At the time of writing, Bitcoin price has increased by 0.41% in the last 24 hours to trade at $23,013.24.
The total crypto market capitalization amounted to 1.07 trillion USD, an increase of 0.57% compared to the last day. Total crypto volume over the past 24 hours was 50.09 billion USD, an increase of 2.42%.
Bitcoin (BTC) rose by 0.74% 0.41% in the last 24 hours to trade at $23,013.24. Bitcoin is back at $23,000 for the second time this year. According to experts, 23,400 has become a resistance mark for Bitcoin, which was successfully breached last month.
The current crypto market cap is 442.04 billion USD. The trading volume in the last 24 hours has jumped by 16.69%. Bitcoin dominance has decreased by 0.05% over the last day. In the past week, Bitcoin Price has dropped to 22,692 USD and has managed to reach as high as 24,167 USD. This week, the price of bitcoin returned to record an increase in performance due to various macroeconomic factors of the market.
On the other hand, Binance has announced that it is temporarily suspending bank transfers in United States dollars (USD) from February 8. No other trading methods will be affected, the exchange said in a tweet on February 6.
The news came without explanation, although the world's largest cryptocurrency exchange stated in the same tweet that:
"We are working hard to restart services as soon as possible. All other methods of buying and selling crypto remain unaffected.”
Binance CEO Changpeng Zhao (CZ) said in a separate tweet:
“Keep in mind that USD bank transfers cover only 0.01% of our monthly active users. However, we appreciate that this is still a poor user experience.”
