Bitcoin and the majority of popular altcoins spent most of the weekend in the red, and the crypto asset continued to decline early Monday after the US Federal Reserve raised interest rates last Wednesday. Given the situation, Bitcoin value has fallen by 0.43 percent in the last 24 hours and is now priced at $18,800 (Rs. 15.32 lakh approx) on global exchanges, while Indian exchanges like CoinDCX have BTC worth $20,043 (Rs. approx. 16.34 lakh), down 0.03 percent from Sunday’s opening.
Bitcoin is priced at $18,820 (roughly Rs. 15.34) on global exchanges like CoinMarketCap, Coinbase and Binance while CoinGecko data The value of BTC now shows that it is 3.4 percent lower than last Monday.
Ether, the largest smart contract token, has given up most of its gains during and after the much-publicized merger. Ether is currently down over 1.62 percent in the last 24 hours, trading at $1,290 (roughly Rs. 1.05 lakh) on global exchanges. Meanwhile, on Indian exchanges, ETH is valued at $1,374 (roughly Rs. 1.12 lakh) where values have decreased by 1.91 percent over the previous day.
Gadgets 360’s cryptocurrency price tracker revealed that most major altcoins also saw a similar slide over the weekend. Global crypto market capitalization fell 1.51 percent between late Wednesday and early Thursday.
Cardano, Avalanche, Uniswap, Cosmos, Solana, Polygon, TRON, Monero, Chainlink, and BNB have all recorded significant declines in the past 24 hours.
Memecoins share the same predicament as Shiba Inu and Dogecoin. Dogecoin is currently valued at $0.06 (approx. Rs. 4.96) after losing 2.91 percent in the last 24 hours, while Shiba Inu is valued at $0.000011 (approx. Rs. 0.000889), down 4.31 percent from the previous day.
Bitcoin, the world’s largest cryptocurrency, is facing strong selling pressure amid uncertainty in global markets. At the end of last week, the price of BTC fell below $19,000 (roughly Rs. 15.48 lakh) and analysts expect it to fall further.
According to On-chain data, Bitcoin whale holdings fall for 100 months in a row. According to on-chain data provider Santimenr, “addresses holding 100 to 10k $BTC have pushed the percentage of #crypto’s top asset supply to a 29-month low,” amid fears of inflation and a global recession.
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