Bitcoin Stands at 63k as Market Shows Stability

With September coming to an end, the crypto market is showing signs of stability. Following a commendable start of the week, Bitcoin and other top cryptos are instilling traders with confidence.

After a couple of sluggish weeks, even the Fear & Greed Index has gone up to Neutral. According to Cointree, the metric is placed at 54 and on the verge of hitting Greed. Even altcoins like NEAR Protocol, Celestia, and Arweave are gaining momentum.

On that note, let’s look at the daily crypto update with the latest market developments.

Bitcoin

On Monday, the market leader managed to stay above the $63k. The coin lost 0.63% in 24 hours; however, it remained above its support level.

It is currently trading at 63,325 dollars, with a weekly performance of 8.12%. Coinbase and BlackRock have also recently streamlined their BTC transactions for transparency. The coin’s major support level is 62,319 dollars, but it will face resistance at 64,570 dollars.

Ethereum

After a busy weekend, Ethereum also managed to stay above the 2,600-dollar mark. The second-largest crypto lost 0.59% value in 24 hours and is trading at 2,643 dollars.

Its weekly growth of 14.80% still shadows every other crypto within the top 10 ranks. Hemi Labs has also taken a step forward to tunnel BTC and ETH. Ethereum has a strong support at 2,561 dollars, while its major resistance is at 2,732 dollars.

BNB

BNB was among the rare top cryptos that accrued growth in the past 24 hours. On Monday, the coin gained 1.29% value, staying above the 600-dollar mark.

It is currently trading at 602 dollars, with a weekly growth rate of 11.98%. Ahead of Chang Peng Zhao’s release, BNB announced a major system update on September 25. The announcement boosted BNB’s price and is expected to do so again after the release.

Celestia

Celestia, or TIA, is the first blockchain network that allows users to deploy blockchains with minimal overhead. Bain Capital Crypto helped the project secure 100 million dollars in capital.

TIA, which is currently trading at 6.25 dollars, increased 12.48% in 24 hours. The weekly growth of 26.16% positions it as an attractive option. However, despite its growth, Celestia remains a moderately risky investment tool for traders. Even so, the coin continues to soar, with Celestia holders expecting it to hit 10 dollars in 2024.

Arweave

AR, or Arweave, is known for its decentralized storage network, which allows for indefinite data storage. 

On Monday, the coin was among the best performers, growing 12.12% in 24 hours. AR is currently trading at 23.07 dollars, with a weekly growth rate of 21.04%. The altcoin is gaining momentum and is one of the best investment options for short-term traders in September.