Bitcoin rises above $22,000 as Ether falls. Check cryptocurrency prices today

“Bitcoin has shown signs of little optimism with increasing buying power in recent days. BTC is currently trading above the $22,000 level as the relief rally continues after a period of consolidation. If BTC manages to hold above the current level, the next immediate resistance for BTC could be at $24,000. However, unlike BTC, Ethereum fell as uncertainty increases ahead of the merger. If ETH can hold above the $1,689 level today, it could bounce back to the $1,700 mark. But if it fails to do so, it could one expects the test of a critical support level of USD 1,650,” said Edul Patel, CEO and Co-Founder, Mudrex.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, fell about one percent to $1,705. Ethereum is moving to proof-of-stake for its consensus protocol.

Meanwhile, dogecoin price today traded slightly higher at $0.06, while Shiba Inu fell marginally to $0.000013. Other crypto price performance today was mixed as XRP, Uniswap, Binance USD, Polkadot, Tether, Litecoin, Chainlink, Apecoin, Cardano, Stellar, Tron prices traded in cuts in the last 24 hours while Solana, Polygon, Avalanche rallied .

The US inflation report due on Tuesday is expected to show cooling headline price pressures. But a higher-than-expected print could sharpen expectations of restrictive monetary settings banning crypto prices, Bloomberg reported.

Bitcoin has been stuck in the tightest trading range, partly reflecting uncertainty about how far central banks will go to raise interest rates in the face of a slowing global economy. Meltdowns such as the Terra/Luna ecosystem and hedge fund Three Arrows Capital have also depressed sentiment, with many crypto firms declaring bankruptcy or struggling to survive.

(With input from agencies)

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