While ether declines, bitcoin climbs above $22,000

The price of bitcoin continued to rise more as the activities on the world's markets has improved, traders awaited US inflation statistics, and observers kept an eye on a significant Ethereum blockchain upgrade. The largest and most well-known cryptocurrency in the world was trading 1% or more higher at $22,000. Despite falling more than 1% in the previous day to $1.1 trillion, the total value of all cryptocurrencies was above the $1 trillion threshold today, according to CoinGecko.

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With higher buying power over the last few days, Bitcoin has been showing up some real signals of confidence. Following a period of consolidation, BTC is now trading above the $22,000 mark as the relief rally keeps going. The next immediate hurdle for BTC might be at $24,000 if it is able to maintain above the current level. Ethereum, in relation to bitcoin, declined as uncertainty increased prior to the Merge. ETH may return to the $1,700 level if it can maintain above the $1,689 level today. However, if it does not, one might anticipate the testing of a crucial support level at US$1,650.

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Dogecoin's price was marginally higher yesterday at $0.06, while Shiba Inu's was slightly down at $0.000013. Other cryptocurrency values performed inconsistently yesterday, with XRP, litecoin, Binance USD, Cardano, Tether, uniswap, Chainlink, Apecoin, polkadot, Stellar, and Tron prices trading lower during the last day while Solana, Polygon, and Avalanche prices rose.

Due in part to a lack of clarity over how far central banks will raise interest rates in the face of a weakening global economy, bitcoin has been caught in the narrowest trading range, and many crypto companies have gone out of business or are fighting to surviver

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