The global crypto market has fallen lower in the past week as the sentiment around cryptocurrencies remained bearish due to various macroeconomic factors. Bitcoin fell 6.44 percent on Monday, September 19, according to Gadgets 360’s crypto price tracker. The current price of Bitcoin is $18,757 (roughly Rs. 15 lakhs). Bitcoin suffered similar heavy losses on international exchanges. According to Binance and CoinMarketCap, Bitcoin recorded similar losses and started trading at a price of $18,807 (roughly Rs. 15 lakh).
Ether has also followed Bitcoin in losses. Following the launch of the Ethereum blockchain’s energy-efficient merge upgrade, ETH is trading at $1,299 (roughly Rs. 1.03 lakh), according to Gadgets 360’s crypto price tracker.
From stablecoins to memecoins — the market movement didn’t bring relief to any sector of altcoins, all of which only lost today.
Tether, Binance Coin, Ripple, Cardano and Solana were again in losses.
Dogecoin and Shina Inu slide down.
The decline could be due to deflated inflation, recession and fears surrounding the Federal Open Market Committee meeting on September 21 about the next interest rate hike. Bitcoin has experienced a heat wave following the release of the CPI data. If buyers are unable to initiate above the current level today, we will soon see ETH break below $1,300 (roughly Rs. 1 lakh) at another key point,” Edul Patel, CEO and co-founder of Mudrex crypto investment platform Gadgets 360 Told to
The total market capitalization of the crypto sector has fallen by 6.25 percent and currently stands at $911 billion (roughly Rs. 72,59,678 crore).
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