Bitcoin price is currently at its two-month lows amid multiple macro market factors and the tendency for crypto prices to continue to fluctuate. On Tuesday, bitcoin was down 0.21 percent, trading at $26,035 (about 21.6 lakh rupees). In the last 45 hours, the value of Bitcoin has fallen by $58 (approx. Rs. 4,820). Currently, the overall market sentiment appears to be bearish as most cryptocurrencies reflect price declines.
Ether was down 0.77 percent on Tuesday. At the time of writing, ETH is trading at $1,663 (roughly 1.38 lakh rupees). In the last day, Ether price fell by $15 (about Rs. 1,245).
“According to a Bloomberg report, there is evidence that the US Securities and Exchange Commission (SEC) will approve Ethereum futures exchange-traded funds (ETFs) in the next few months. “This development could potentially lead to a fresh rally for Ethereum, which has shown muted price action so far this year,” the CoinDCX research team told Gadgets 360, forecasting better days for the sector.
Cryptocurrencies currently trading at losses include Binance Coin, Ripple, USD Coin, Cardano, Dogecoin, and Solana.
Tron, Polkadot, Polygon, Shiba Inu, Avalanche, and Stellar also suffered losses.
As CoinMarketCap showed, the global cryptocurrency market cap fell by 0.55 percent, reflecting its valuation of $1.05 trillion (approximately 87,23,032 crore).
Additionally, the crypto greed and fear index remains in the fear zone at 37/100.
“While the sentiment of the larger marker is currently looking bearish, one can see the pulse of the market by looking at how LTC performed after the recent halving. Yesterday, it was up almost 2.7 percent, showing that all may not be lost for crypto market bulls,” Shubham Hudda, senior manager, CoinSwitch Markets Desk, told Gadgets 360.
Among the few altcoins to generate small gains, Litecoin, Monero, Zcash, Baby Doge Coin, Braintrust, and Augur marked their presence.
Despite the market volatility, the development in the blockchain sector continues day by day.
“A very interesting product on Coinbase’s Layer 2 BASE, called friend.tech, has now generated nearly $1 million (roughly 7 crore rupees) in 24 hours – making it the third most valuable within a few weeks of launch dApp makes.” With the app, Twitter or
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