Wednesday’s cryptocurrency markets saw a decline, led by Bitcoin, Ethereum, and BNB.

The largest cryptocurrency in the world, Bitcoin, dropped below $39,700 for the first price since the January 11 launch of the 11 spot Bitcoin exchange-traded fund (ETF).

Selling pressure on the cryptocurrency market is still present since Bitcoin ETFs have made it very simple to enter and exit the investment vehicle. It’s possible that traders booked profits by liquidating their holdings and took up new ones in anticipation of the next bounce. The US Federal Reserve’s announcement of a rate cut, which it hinted at the end of 2023, may be the next market mover.

After a recent dip, Bitcoin is currently experiencing a correction around $39,700, which keeps it below the critical $40,000 mark. With a strong support level at $38,500, the current trading level might draw more buyers. The next support level is anticipated to be at $37,800, while the upside resistance is located at $40,350, should this support prove ineffectual.

The value of the world’s cryptocurrency market fell 1.9% to approximately $1.55 trillion in the previous day’s transaction on Wednesday.

Ethereum was down 5.34% at $2,219 while Bitcoin was down 0.64% at $39,648. Other altcoins saw declines of more over 5%, including Polygon and BNB. A 2-4% decline was seen in Litecoin, Chainlink, Tron, Dogecoin, and Cardano.

Currently, DeFi’s total volume is $5.96 billion, or 8.04% of the 24-hour volume of the entire cryptocurrency market. At $67.7 billion, the entire value of stablecoins represents 91.31% of the 24-hour volume of the cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, had a decrease in market capitalization to $777 billion in the past day. 50.39% of the market is presently dominated by bitcoin, according to CoinMarketCap. The volume of BTC rose 3.7% to $30.5 billion in the last day.

The price of Bitcoin had a substantial decline, topping $40,000 and momentarily touching $39,500. This decline was ascribed to noteworthy sales that were impacted by the Grayscale GBTC Bitcoin ETF. With Bitcoin hovering just under $39,000 and probable price volatility between $35,000 and $45,000, investors proceed cautiously.

Quick analysis of cryptocurrency prices on December 22: The value of the worldwide market reached $1.66 trillion.

The world’s oldest and most valuable cryptocurrency, Bitcoin (BTC), was able to hold above $43,000 early on Thursday. Popular altcoins had slight increases overall, including Dogecoin (DOGE), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC). With an increase of more than 23% in just one day, the Stacks (STX) token continued to be the largest gainer of the group. Internet Computer (ICP), which had a decline of almost 8% in a single day, continued to be the largest loser.

The value of the world’s cryptocurrency market was $1.66 trillion at the time of writing, a 2.19 percent increase in just one day.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin increased by 2.95 percent in a day to $43,654.15.

Ethereum Price Today
At the time of writing, the price of ETH was $2,200.43, indicating a gain of 0.74 percent in just 24 hours.

Dogecoin Price Today
According to CoinMarketCap data, DOGE saw a 1.04 percent 24-hour spike in price, presently trading at $0.09149.

Litecoin Price Today
Litecoin experienced a 1.36 percent 24-hour decline. As of writing, its trade price was $69.73.

Ripple Price Today
The price of XRP was $0.6149 after rising 1.10 percent in a day.

Solana Price Today
The price of Solana was $83.22, up 11.13 percent in a day.

Quick analysis of the cryptocurrency pricing on November 20: The total market value increased by $1.43 trillion.

The world’s oldest and most valuable cryptocurrency, Bitcoin (BTC), surged past $37,000 following the announcement that Javier Milei, a proponent of Bitcoin, had won the Argentine presidential election. However, Ethereum (ETH) benefited from a surge brought about by Fidelity’s pursuit of an Ethereum exchange-traded fund (ETF) and surged beyond the $2,000 threshold. Other well-known altcoins, including as Dogecoin (DOGE), Litecoin (LTC), Ripple (XRP), and Solana (SOL), also performed poorly overall.

At the time of writing, the value of the entire cryptocurrency market was $1.41 trillion, a gain of 1.75 percent in a day.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $37,175.82, representing a 1.80% increase in a single day. As to the Indian exchange WazirX, the current value of Bitcoin was Rs 32.59 lakh.

Ethereum Price Today
At the time of writing, the price of ETH was $2,002.90, indicating a gain of 2.46 percent in just 24 hours. Ethereum’s price in India was Rs 1.75 lakh, according to WazirX.

Dogecoin Price Today
According to CoinMarketCap data, DOGE experienced a 2.23 percent 24-hour gain, with a current price of $0.08023. Dogecoin was trading at Rs 7.07 in India, according to WazirX.

Litecoin Price Today
Litecoin increased by 0.92 percent in a day. As of writing, its trading value was $70.38. The cost of LTC was Rs 6,152.23 in India.

Ripple Price Today
The price of XRP was $0.6239 after rising 2.69 percent in a day. The price of ripple was Rs 54.85 according to WazirX.

Solana Price Today
The price of Solana was $59.85, a 3.40 percent increase in a day. WazirX reports that the price of SOL in India was Rs 5,340.

Quick analysis of the price of cryptocurrency on August 14: On Sunday morning, the market capitalization of all cryptocurrencies was $1.17 trillion.

On early Sunday morning, Bitcoin (BTC) and Ethereum (ETH), two of the most valuable crypto coins, were able to hold above the $29,000 and $18,000 levels, respectively. BTC, however, experienced a 0.04 percent decrease in performance measured in percentage terms. Other well-known cryptocurrencies, such as Dogecoin (DOGE) and Solana (SOL), also witnessed gains as overall values increased marginally across the board. The largest gainer, THORChain (RUNE), saw a 24-hour increase of more than 14.36%. On the other hand, BoneShibaSwap (BONE) ended up being the greatest loss.

The worldwide crypto market valuation was $1.17 trillion at the time of writing, up 0.12% over the previous day.

Bitcoin price today
According to CoinMarketCap, the price of one bitcoin was $29,379.74, a drop of 0.04 percent over the previous day. The price of Bitcoin was Rs. 25 lakhs, according to Indian exchange WazirX.

Ethereum price today
At the time of writing, the price of ETH was $1,847.25, up 0.11 percent over the previous day. According to WazirX, the price of ethereum in India was Rs 1.57 lakhs.

Dogecoin price today
Currently trading at $0.07643, DOGE saw a 24-hour rise of 0.54 percent, according to statistics from CoinMarketCap. Dogecoin’s price in India was Rs. 6.5000, according to WazirX.

Litecoin price today
Litecoin lost 0.58 percent throughout the course of a day. Its price at the time of writing was $83.25. The cost of LTC in India was Rs 7,189.

Ripple price today
The price of XRP was $0.6287, down 0.02 percent over the previous 24 hours. WazirX said that the price of ripple was Rs 54.3990.

Solana price today
The price of solana was $24.81, up 1.32 percent over the previous day. SOL cost Rs 2,061.25 in India, according to WazirX.

Quick summary of the cryptocurrency price on July 5: The value of the world market was $1.21 trillion.

The oldest and most valuable cryptocurrency in the world, Bitcoin, managed to hold steady in the $30,000 range early on Wednesday as most coins experienced slight declines. All of the well-known cryptocurrencies, including Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP), fell in value. AAVE ended up being the biggest winner of the group, rising about 10% over the course of a day. With a loss of more than 9% over the course of a day, eCash (XEC) emerged as the greatest loser.

At the time of writing, the market cap of all cryptocurrencies was $1.21 trillion, down 1.22 percent over the previous 24 hours.

Bitcoin Price Today
According to CoinMarketCap, the price of one bitcoin was $30,851.54, a 1.21 percent decline over the previous 24 hours. BTC’s current price was Rs 26.52 lakh, according to Indian exchange WazirX.

Ethereum Price Today
At the time of writing, the price of ETH was $1,940.25, reflecting a 1.25 percent 24-hour decline. According to WazirX, the price of ethereum in India was Rs 1.68 lakh.

Dogecoin Price Today
Currently trading at $0.06889, DOGE saw a 24-hour increase of 0.12 percent, according to statistics from CoinMarketCap. Dogecoin’s price in India as of WazirX was Rs 5.97.

Litecoin Price Today
In the past day, Litecoin fell by 3.24 percent. It was trading at $105.47 at the time of writing. The cost of LTC in India was Rs 9,207.12.

Ripple Price Today
The price of XRP was $0.4914, down 0.05 percent over the previous 24 hours. The price of ripple was Rs 41.90, according to WazirX.

Solana Price Today
The price of solana was $19.26, down 0.59 percent over the previous day. SOL cost Rs 1,673.99 in India, according to WazirX.

The cryptocurrency market bounced back from the early-week shocks following the US January inflation statistics, indicating that inflation is probably going to stay higher than anticipated. Investors are frightened by the news stories about US regulators assaulting stablecoins.

After early-week worries, Bitcoin climbed higher and reclaimed the $22,000 level. Ethereum, its biggest rival, increased by more than 3% to hold close to $1,550. A few alternative coins, though, outperformed the blue-chip coins and saw gains of up to 25%.

Several cryptocurrencies saw a boost after January’s US Consumer Price Index (CPI) data revealed less inflation than anticipated.

“The support is at the $22,000 level, while the next resistance for BTC is now at the $22,260 level. In addition, Ethereum followed Bitcoin’s rise and returned to the $1,500 mark.

Except for the US dollar-pegged stablecoin Tether, all of the top-tier cryptocurrencies saw significant price increases on Wednesday. Cardano saw a gain of over 8%, while Polygon saw a 6% increase. Avalanche rose 4% on the day, while Litecoin increased by more over 5%.

More than 2% more had been added to the market capitalization of all cryptocurrencies in the previous day, pushing it up to $1.02 trillion. The overall trading volumes, however, were essentially unchanged, increasing by about 3% to just under $57.92 billion.

According to Sathvik Vishwanath, Co-Founder & CEO at Unocoin, further SEC pressure and regulation of the cryptocurrency business, such as the inspection of stablecoin securitization, could cause greater market instability and confusion.

The price index of personal consumption expenditures, or PCE, the Fed’s favoured inflation indicator, is released on February 24. On March 14, the subsequent CPI report is due.

Crypto updates

Since Monday, more than $700 million worth of BUSD tokens have been burnt by Paxos, the company that created the $16 billion Binance USD (BUSD) stablecoin. According to blockchain data, Paxos indicated at that time that it would stop issuing the coin due to increasing regulatory pressure.

Bitcoin (BTC) is currently trading above $22,000, down 5% on a weekly basis. Following the release of US inflation statistics today, BTC experienced a mini-rally. BTC may be ready for a promising uptrend thanks to the strong support it has below.

Bitcoin, Ether, and the top ten non-stablecoin cryptocurrencies all fell in early Asian trading on Tuesday, wiping out the majority of Monday’s gains. Cryptocurrencies fell alongside equity markets in the United States overnight, as traders appeared to be taking profits ahead of this week’s Federal Reserve meeting on rates and a slew of technology earnings. Solana was the leader of the losers. Dogecoin recovered some of its losses following reports that Twitter Inc. CEO Elon Musk is looking to add payment systems to the social media platform, and he is a known supporter of the token.

Quick Facts

Bitcoin fell 3.9% to US$22,836 in the 24 hours to 8 a.m. in Hong Kong, bringing its seven-day loss to 0.6%. According to CoinMarketCap data, ether fell 4.8% to $1,566 on Tuesday morning and is down 3.8% for the week.

Solana fell 8.1% to US$23.91, a 1.8% drop over the week after the token saw the biggest gains in CoinMarketCap’s top 10 list on Monday.

Cardano fell 6.3% to US$0.37, a 1% drop in seven days. Polygon fell 7.5% to $1.09, but was still up 9% since last Tuesday.

Dogecoin, the leading memecoin, fell 1.5% to US$0.08, bringing its weekly losses to 1%. The Financial Times reported on Monday that Musk, the world’s second-richest person, is considering adding payment systems to Twitter, which could include cryptocurrency. Musk has long been a supporter of Dogecoin.

Equities in the United States fell on Monday. The Dow Jones Industrial Average fell 0.8%, while the S&P 500 Index fell 1.3%. The Nasdaq Composite Index fell 2% for its worst trading day in five weeks.

The Fed meets on January 31 and February 1 and is expected to raise interest rates by 25 basis points, breaking a streak of 50 or 75 basis point hikes since last March in an attempt to slow the pace of inflation. The rate decision is scheduled for Wednesday.

Last year’s aggressive rate hikes by the Fed appear to have had the desired effect on inflation. The consumer price index in the United States rose 6.5% year on year in December, down from 7.1% in November and the largest monthly decline since April 2020.

Investors are also anticipating earnings reports from technology leaders such as Apple Inc., Amazon.com Inc., and Alphabet Inc., the parent company of search engine Google, this week. Non-farm payroll data, another key inflation indicator, will be released on Friday.

On Tuesday, cryptocurrency prices were mixed. The global crypto market cap was $1.05 trillion, with $55.7 billion in volume in the previous 24 hours.

Bitcoin
Bitcoin, the world’s largest and most popular virtual currency, gained 1.4 percent to $23,018. Its market capitalization was $442.9 billion. The total value of trade was $26.4 billion.

“The price increase could be attributed to BTC whales amassing and driving up the price.

Ethererum
The second largest virtual currency, fell 0.1 percent to $1,634.2, with a market capitalisation of $199.6 billion. In the last 24 hours, Ethereum’s trade volume was $8.2 billion.

Dogecoin
Dogecoin, a meme-based virtual currency, rose 0.5 percent on Tuesday. Its market capitalization was $11.8 billion. The total trade volume was $647.7 million.

Solana
Solana gained 0.7 percent to $24.5, with a market cap of $9 billion. Solana’s trade volume in the last 24 hours was $839.9 million.

Shiba Inu
Shiba Inu fell 0.5 percent to $6.6 billion in market capitalisation. In the last 24 hours, the trade volume was $252.4 million.

Polygon
Polygon fell 0.4 percent to $1, with a $8.7 billion market capitalisation. In the last 24 hours, the trade volume was $395.6 million.