On Tuesday, Bitcoin experienced a substantial 10.62 percent drop in its price, causing the highest-priced cryptocurrency to reach a value of $26,276. Despite the decline that Bitcoin demonstrated on Tuesday morning, its value did not significantly change from the day before. This can mean that Bitcoin saw multiple ups and downs in the previous day.
On Tuesday, Ether lost ground as a result of how Bitcoin was moving. The price of ETH at the time of writing was $1,588, a decrease of 13.76 percent.
Similar to broader financial markets, Bitcoin has exhibited stability in the last 24 hours and has sustained a price level exceeding $26,000. ETH increased slightly as well, and it is now trading just around $1,600. It’s interesting to note that, according to data provided by Token Terminal, Ethereum has, in a record-breaking seven years, earned over $10 billion in income, outpacing all other major technology businesses save for Alphabet.
On September 26, all cryptocurrencies saw losses, including Binance Coin, Ripple, Cardano, Dogecoin, Solana, Polkadot, Litecoin, and Shiba Inu.
Avalanche, Stellar, Monero, and Cronos are further altcoins that are now trading in the red.
The crypto fear and greed index is back in the fear zone with a score of 46/100 after losing a point since yesterday, continuing its fluctuation between the neutral and fear zones. Markets overall, including cryptocurrency and even international equities, are currently coping with fears about rate hikes and rising government yields, according to Hudda.
Minor price increases were also seen for Binance USD, Chainlink, Bitcoin Cash, Leo, Cosmos, Uniswap, and Bitcoin.
According to CoinMarketCap, the value of the cryptocurrency market increased by 0.70 percent in the last day to reach $1.05 trillion.
On a more upbeat note, MicroStrategy’s chair, Michael Saylor, said that the company spent $147.3 million to purchase an additional 5,445 BTC on September 24. With this latest acquisition, MicroStrategy now owns an astonishing 158,245 bitcoins in total. It’s important to note, though, that BTC’s price did not increase as a result of this news, according to the CoinDCX research team.