The price of Bitcoin fell today, trading almost flat with a bias toward the downside at USD 16,829. The largest token has decreased by 75% from its previous high of USD 69,000.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, was nearly unchanged at USD 1,213. Shiba Inu’s price was down today at USD 0.000008, while Dogecoin’s price was roughly 1% higher at USD 0.07.
According to data from CoinGecko, the market capitalization of all cryptocurrencies worldwide today remained below the USD 1 trillion threshold and was USD 845 billion, nearly unchanged over the previous day.
“The majority of cryptocurrencies experienced negative trading as a result of the eight-month high in US consumer confidence. BTC is trading in a constrained range as it works to strengthen its position and advance. BTC has retraced from the USD 16,815 mark. One should currently pay attention to the USD 17,000 level zone, as this could be a necessary condition for the return of the USD 18,000 area. Ethereum, on the other hand, kept trading above the USD 1,200 mark. ETH has recently rebounced the support at USD 1,150, indicating more buying activity at that lower levels,” said Edul Patel, CEO and Co-founder, Mudrex, a global crypto investment platform.
While Chainlink, ApeCoin, Tron, and Uniswap were trading with gains today, Binance USD, Avalanche, Tether, Terra, Solana, Polygon, Stellar, XRP, Cardano, Litecoin, and Polkadot prices were trading with losses over the past 24 hours.
After hitting record highs in late 2018, cryptocurrencies have had a TOUGH year, buffeted by everything from the Fed’s tightening of policies to the collapses of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchange FTX.
According to a research by cryptocurrency exchange CoinSwitch, meme coins made up two of the top four most-held crypto assets in India. The most popular cryptocurrency asset was Bitcoin, followed by Shiba Inus, Dogecoins, and Ethereum.