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Cryptocurrency prices today rose with the world's largest and most popular digital token Bitcoin trading more than a per cent higher at $17,207. The global cryptocurrency market cap today remained below the $1 trillion mark, even as it was up in the last 24 hours to $902 billion, as per the data by CoinGecko.

“Over the weekend, Bitcoin changed hands between the $16,900 and $17,300 levels. It suggests a tough battle between the bulls and bears to gain power. BTC’s support now holds at the $16,000 level, where bears might become active. However, the immediate resistance for buyers lies at $17,622 to reverse the downward trend. On the other hand, Ethereum is trading closer to the $1,300 level gaining more than 10% over the weekend. If the price can break above the current level, it would confirm the bear’s weakness," said Edul Patel, CEO and Co-founder, of Mudrex, a global crypto investment platform.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also gained by over 2% to $1,292. Meanwhile, dogecoin price today was trading more than 2% higher at $0.10 whereas Shiba Inu was up over a per cent at $0.000009.

Other crypto prices' today performance also improved as Binance USD, Avalanche, Tether, Terra, Solana, Polygon, ApeCoin, Litecoin, Stellar, XRP, Cardano, Uniswap, Polkadot, Chainlink prices were trading with gains over the last 24 hours whereas Tron slipped.

The crypto sector hit a record value of almost $3 trillion late last year, before market turmoil prompted by rising interest rates and a string of industry blow-ups wiped more than $2 trillion from its valuation. Bitcoin, the biggest token, is down by three-quarters from its record high of $69,000.

FTX filed for bankruptcy in November after a week in which a possible merger with rival crypto exchange Binance failed, Bankman-Fried was accused funneling customer deposits to FTX's affiliated trading firm Alameda Research, and the exchange experienced withdrawals of about $6 billion in just 72 hours.

(With inputs from agencies)

The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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