Ethereum fell by approximately 4% to cling to the $1,600 mark while Bitcoin fell by roughly 2% and managed to maintain $27,500 levels.

As the US 10-year yield soared to its highest level in more than 16 years during the early trading session on Tuesday, Bitcoin and other crypto currencies suffered losses. According to some sources, the much anticipated and much-hyped ether futures exchange-traded funds (ETFs) failed to pique investors’ attention due to the low volumes seen on their first day of trading.

The largest cryptocurrency token, Bitcoin, was again on a downward trend as it fell by roughly 2% but managed to hold $27,500 levels. Ethereum, its biggest peer, fell by nearly 4% to just barely stay above $1,600. Action in the alternative currencies was a symptom of fragility.

The 50-day Exponential Moving Average (50 EMA) and a major resistance level of $28,500 were briefly broken by Bitcoin before bears took control and BTC slid back to approximately $27,500. Due to this volatility, the market had its largest volumes in almost a month.

The main Chainlink conference, Smartcon, got underway yesterday in Barcelona, Spain. After LINK reached its 18-month high, the stock continued to decline slowly in line with the saying “buy the rumour, sell the news.” Odysseys are a mechanism to give users a variety of jobs where they can earn NFTs for investigating projects in the Arbitrum ecosystem.

On Tuesday, the price of every major cryptocurrency token fell. In the opening session, Shiba Inu fell 4% and Toncoin dropped roughly 5%. Tron, Dogecoin, Shiba Inu, and Solana each saw losses of more than 2%, while Polkadot and Litecoin both fell by 3%.

The market capitalization of all cryptocurrencies was trading much lower, falling to the $1.09 trillion mark, after falling as much as 2% over the previous 24 hours. The entire trade volume did, however, increase by approximately 30% to $43.71 billion.

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