Bitcoin and Ether Post Losses as Values ​​of Most Cryptocurrencies Fall in Shaky Market: Full Details

The crypto price chart showed losses alongside most cryptocurrencies on Friday. Bitcoin, the most popular cryptocurrency in the world, saw its value drop by around 2.15% on domestic and international exchanges. The value of BTC, at the time of writing, stands at $23,963 (roughly Rs. 19.8 lakh). In the past 24 hours, the value of the cryptocurrency has dropped significantly by $482 (roughly Rs. 39,875). In 2023, the value of Bitcoin jumped 40%. The immediate support level for the oldest cryptocurrency in the world is $23,800 (roughly Rs. 19.6 lakh), while the resistance is at $24,200 (roughly Rs. 20 lakh).

Ether fell 1.35%, following Bitcoin’s trajectory. The value of ETH is hovering around the $1,648 mark (roughly Rs. 1.36 lakh), according to crypto price tracker Gadgets 360. Over the past 24 hours, the value of ETH has fallen $21 (about 1,737 rupees).

“Most cryptocurrencies traded sideways as investors watched US monetary policy and employment data. The price of Ethereum remains relatively stable. The broader cryptocurrency market is showing similar trends as investors await new developments in the global economic and financial landscape,” Edul Patel, CEO and co-founder of Mudrex told Gadgets 360.

From stablecoins like Tether, USD Coin, Ripple and Binance USD to popular altcoins like Binance Coin, Cardano, Polygon and Solana recorded declines on Friday.

These were joined by Polkadot, Litecoin, Tron, Avalanche and Uniswap which also saw their values ​​drop.

The overall crypto market valuation has shrunk by 1.53% and currently stands at $1.09 trillion (roughly Rs. 90,56,097 crore), according to data from CoinMarketCap.

On the other hand, Chainlink, Leo, Bitcoin Cash, SushiSwap, and Ardor managed to record profits.

Circuits of Value, BurgerCities, Flex, Floki Inu, Gas and Kishu Inu also posted small gains on Friday.

“Crypto markets traded slightly lower, even as broader ‘risky’ assets falter. Macroeconomic uncertainties began to weigh on the “New Year’s” rally across all asset classes as markets experienced a healthy correction last week. Bond markets are waking up to the risk of the Fed raising rates and keeping them there longer. The yield curve between two- and ten-year Treasuries has inverted further to reach its most extreme levels since the early 1980s,” Parth Chaturvedi, head of crypto ecosystem at CoinSwitch told Gadgets. 360.

“In token-specific action, Stacks’ STX continued its price surge, rising over 150%, as ordinal NFTs on the Bitcoin network continue to gain traction. Tezos’ XTZ token saw a sharp price increase of more than 20% as Google Cloud announced it would become a validator on the network. The Klaytan Network’s KLAY token has seen a surge of over 30% as further tokenomics changes would cause much of its supply to burn,” Chaturvedi added.

Cryptocurrency is an unregulated digital currency, which is not legal tender and is subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss resulting from any investment based on any perceived recommendation, forecast or any other information contained in the article.