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The market cap of Bitcoin, the worlds largest cryptocurrency, was around $530 billion. Bitcoins dominance is currently 48.89%, according to CoinMarketCap. Meanwhile, BTC volume in the last 24 hours stood at approximately $14.58 billion, falling 52.55% in the last 24 hours.

Other top crypto tokens were also trading higher on Wednesday. Solana rose 6.4%, while Toncoin surged 14%, and Dogecoin gained over 4%. BNB, XRP, and Polkadot also surged.

"Bitcoin has been trading around the $26000 threshold over the weekend. However, the price of Bitcoin and market sentiments have been improving after there was positive commentary from JPMorgan analysts who said that Bitcoins downtrend could be ending," said Edul Patel, CEO and co-founder of Mudrex.

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Bitcoin has been trading above the $26000 level. This could be indicative of the market awaiting a decision on the Bitcoin-ETF in the US, Edul Patel, CEO and co-founder of Mudrex said.

Bitcoin dropped to trading around the $25,600 level before consolidating to trading above the $26,000 level. Ethereum has been trading above the $1600 level. Meanwhile, Balancer, One of Ethereums top decentralized crypto trading projects, dropped nearly $100 million after discovering a critical vulnerability, said Edul Patel, CEO & Co-Founder of Mudrex.

Bitcoin has taken multiple supports in the past at the crucial level of $25,000 (Horizontal trendline & 50% Fibonacci Retracement). This time too, the prices have bounced slightly after testing the support and the lower longer shadow indicates buying around these levels.

The market cap of Bitcoin, the worlds largest cryptocurrency, was around $557 billion. Bitcoins dominance is currently 49%, according to CoinMarketCap.

Rajagopal Menon, Vice President at WazirX, said, "Major market oscillators point to a Buy sentiment. The Relative Strength Index (14) sits at 45, with a neutral outlook. The Stochastic %K (14, 3, 3) at 39 and the Average Directional Index (14) at 13 indicate a Neutral outlook."

"Crypto markets remained sideways over the weekend with Bitcoin trading close to $29,400. The lack of volatility has pulled Bitcoin futures trading volumes to their lowest levels since December 2022. This shows that traders may have been avoiding making moves at the current levels," said, CoinDCX Research Team.