Synopsis
Bitcoin and Ethereum both suffered losses, with Bitcoin dropping 3.35% to $28,026 and Ethereum falling below the $1,950 level. Other major cryptocurrencies also traded lower, with Dogecoin declining by over 8%. The global cryptocurrency market cap decreased by 2.49% in the last 24 hours, with the market cap of Bitcoin standing at around $542 billion
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Explore NowMost of the cryptocurrencies were trading in the red on Friday. Bitcoin (BTC) fell 3.35% to $28,026, whereas Ethereum (ETH) was below the $1,950 level.
“Bitcoin dropped for the second consecutive session, as the price fell to the level of US$28,100 due to an increase in selling pressure. As a result, the gains made by Bitcoin in the past seven days were erased. Despite this setback, there is still strong support at the US$26,500 mark, which was the low point in late March,” Edul Patel, Co-founder and CEO at Mudrex, said.
Other top crypto tokens were also trading lower on Thursday. Dogecoin declined by over 8%. Meanwhile, BNB, XRP, Cardano, Polygon and Polkadot also traded with cuts. The global cryptocurrency market cap was trading lower around $1.19 trillion, falling 2.49% in the last 24 hours.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $542 billion. BTC volume stood at approximately $20.41 billion, falling 20.86% in the last 24 hours. Bitcoin’s dominance is currently 45.81%, a decrease of 0.20% over the day, according to CoinMarketCap.
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View Details »“Bitcoin rally was halted as BTC fell below the $29,000 mark while ETH slipped below the $2000 as the euphoria around the Shanghai upgrade begins to fade and macroeconomic factors take over,” Dhruvil Shah, Vice President of Technology, Liminal said.
Rajagopal Menon, Vice President at WazirX said, “Major market indicators point towards a ‘neutral’ sentiment. The Relative Strength Index (14), one of the key indicators, sits at 48, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 20 and 34, respectively, further indicating a neutral market.
“The MACD Level (12, 26), at 550, indicates a Sell. The Stochastic RSI Fast (3, 3, 14, 14) is at 0 with a Neutral indicator, while the Williams Percent Range (14) at −87 signals Neutral,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.24 hours, IST on April 21, 2023)
Bitcoin | $28,026 | -3.35%
Ethereum | $1,907 | -2.47%
Tether | $1.00 | -0.05%
BNB | $316 | -3.05%
XRP | $0.4692 | -5.72%
Cardano | $0.4003 | -4.44%
Polygon | $1.04 | -5.36%
Dogecoin | $0.08366 | -8.33%
Solana | $21.94 | -4.22%
Polkadot | $6.03 | -5.93%
Shiba Inu | $0.00001051 | -3.83%
Litecoin | $88.57 | -2.87%
Tron | $0.06517| -1.97%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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