Crypto Price Update: Bitcoin and Ether continue to post losses, bear market situation keeps crypto shaky
Bitcoin was down 0.14 percent on Wednesday, trading at its drastically reduced price of $26,022 (about 21.6 lakh rupees). Bitcoin, the most expensive cryptocurrency, has been trading near $26,000 (about 21 lakh rupees) for days. A variety of macroeconomic factors have pushed cryptocurrency prices lower, making investors reluctant to make risky investments for now. With bitcoin trading low, most other cryptocurrency prices are facing the impact.
Ether slipped 1.99 percent, Gadgets 360 crypto price tracker showed on Wednesday. At the time of writing, ETH is trading at $1,630 (roughly 1.35 lakh rupees).
Both bitcoin and ether have seen slight price declines over the past 24 hours. While BTC slipped $13 (about Rs.1,079), ETH fell $33 (about Rs.2,740).
A range of altcoins marked on the losing side of the crypto chart behind BTC and ETH.
These include Tether, Ripple, USD Coin, Cardano, Dogecoin, and Solana.
Other loss-making cryptocurrencies of the day include Polkadot, Polygon, Litecoin, Avalanche, Stellar, Chainlink, and Uniswap.
According to CoinMarketCap, the total crypto market capitalization fell 0.49 percent in the past 24 hours to hold the $1.05 trillion (roughly 87,24,334 crore) mark.
The crypto fear and greed index has maintained its position in the fear zone, unchanged from 37/100 since yesterday.
“BTC’s dominance has dropped slightly and is currently around 49.27 percent. BNB, the fourth largest cryptocurrency by market cap, fell to its lowest level in a year yesterday. The crypto market has seen some major selling pressure over the past 24 hours,” Shubham Hudda, senior manager, CoinSwitch Markets Desk, told Gadgets 360.
While mainstream cryptocurrencies are suffering losses, game tokens Decentraland and Aave saw small gains on Wednesday.
Leo, Near Protocol, Zcash and Dash were also able to post smaller wins.
Shiba Inu was also up 3.13 percent on Wednesday. SHIB developers are now confident that their new L2 blockchain, Shibarium, can handle the expected strain.
Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended to be, and does not constitute, financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on a perceived recommendation, forecast or other information contained in the article.
