Bitcoin on Wednesday reflected a loss of 0.14 percent to trade at its drastically reduced price point of $26,022 (roughly Rs. 21.6 lakh). Bitcoin, the most expensive cryptocurrency, has been trading close to the $26,000 (roughly Rs. 21 lakh) mark for days now. A plethora of macro-economic factors have pushed the prices of cryptocurrencies low, with investors not looking to engage with high-risk investments for the time being. With Bitcoin trading lowly, the prices of majority other cryptocurrencies are facing the impact.
Over the last 24 hours, Bitcoin and Ether both recorded small price drops. While BTC slipped by $13 (roughly Rs. 1,079), ETH tumbled by $33 (roughly Rs. 2,740).
A bunch of altcoins tagged behind BTC and ETH on the loss-making side of the crypto chart.
The overall crypto market cap reduced by 0.49 percent in the last 24 hours, to hold on to the mark of $1.05 trillion (roughly Rs. 87,24,334 crore), as per CoinMarketCap.
The crypto fear and greed index has maintained its position in the fear zone without a shift in its score of 37/100 since yesterday.
“BTC dominance made a slight downtick and is currently lying around 49.27 percent. BNB, the fourth largest crypto by market capitalisation, dipped to its one-year low yesterday. The crypto market has observed more selling pressure in the last 24 hours,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360.
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