Saturday, February 24, 2024

Crypto Price Today: Bitcoin Dips, Altcoins Sideways After Holiday Cheer.

On Wednesday, December 27, there was a minor 2.71 percent decline in the price of bitcoin. Bitcoin’s price is currently trading at $42,218, having managed to hold above $42,000 despite this minor decrease. For the third day in a row, the price of bitcoin is above $42,000. But during the past three days, the value of BTC has decreased by $688, or around Rs. 57,270. The critical resistance level for BTC is $44,500, and the support level is $42,500.

Bitcoin tumbled due to mass trader exodus triggered by mounting expenses,¬†flipping the market bearish. Rajagopal Menon, Vice President of Wazir, says, “An increase in trading volume indicates sustained market engagement amid these evolving scenarios, including expectations of a year-end surge and the impending US SEC verdict on a Bitcoin ETF.”

On Wednesday, ether saw a slight decrease of 0.75 percent. ETH was trading at $2,220 at the time of writing. In terms of ETH, the essential support level is $2,250, while the major resistance is $2,380.

On Wednesday, many altcoins saw losses. These comprise Polkadot, Dogecoin, Avalanche, Cardano, and Ripple.

Price declines on Tuesday were also seen in Tron, Chainlink, and Shiba Inu.

In the past day, the entire cryptocurrency market capitalization fell by 0.27 percent. According to CoinMarketCap, the sector is currently valued at $1.65 trillion, or around Rs. 1,37,46,414 crore. The cryptocurrency fear and greed index, however, has risen by 2 points since yesterday and appears to be trending upward.

“As bulls and bears fight for control, the market is currently at a critical juncture with a narrow range.” Edul Patel, CEO and co-founder of Mudrex

On Wednesday, only a tiny percentage of cryptocurrencies reported earnings. Tether, Solana, USD Coin, Binance Coin, Polygon, and Wrapped Bitcoin are these.

Uniswap, Leo, Monero, Elrond, Binance USD, and Bitcoin SV all had marginal gains as well.

Following this crash, Polygon emerged as one of the best achievers. After nearly seven months, its native token, MATIC (+11 percent), crossed the dollar threshold. This occurred at the same time as BNB (+6.8%), the native coin of Binance, enjoyed some gains as well and broke through the $300 threshold for the first time in six months. In June of this year, the CoinSwitch Markets Desk said that the SEC had accused both of these tokens and SOL (-7.1%) of being securities-backed.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular