Wednesday, May 29, 2024

Market Watch April 9: Cryto market sees red as Bitcoin slips to $42,000 level, Ether loses 2.15%

The crypto market has once again seen serious volatility with major price tumbles recorded across the board. Bitcoin lost 3.21% in the last 24-hours and is trading at $42,232. The price drop occurred as the biggest crypto event, the Bitcoin 2022 Conference is taking place in Miami.

Earlier in the week, BTC touched nearly $46,000 and was looking to breach the $47,500 level. But bears pushed the price down and it was soon trading at a high low of $43,000. However, Bitcoin managed to recover and was trading slightly below the $44,000 mark. The rest of the crypto market followed suit. Ethereum followed close to Bitcoin’s heels. It nearly reached the $3,400 mark. At the time of writing this article, Ether has lost 2.32% in the last 24-hours and is changing hands at $3,188.

Analysts say BTC price action has seen some retracement, a series of lower lows resulted in a consolidation triangle. It broke the downside on March 6. More downside is to be tested as price took a slight dip in the last 24-hours. The altcoins are seeing red. Terra LUNA and Solana (SOL) are the biggest losers. The former lost its price by nearly 12% and the latter by 10.19% in the last 24-hours. Avalanche is down by 6.21%. Polkadot lost 5.27%.

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.
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