Thursday saw a slight decline in the price of major cryptocurrency tokens, pulled down by altcoins like Ethereum, BNB, Solana, Cardano, and Avalanche. In the meantime, the value of the world’s cryptocurrency market fell by 0.43% to approximately $1.74 trillion over the previous day.

While Ethereum was down 0.12% at $2,377, BTC was down 0.07% at $45,237.

As the market anticipates the approval of a Bitcoin ETF in the first week of January, Bitcoin achieved its highest level in 21 months as it broke out of its consolidation zone and overcame resistance at 45k USD to start the new year.

As of right now, BTC’s support is still at US$44,800, while resistance is located at US$46,100. Simultaneously, Ethereum follows the path of Bitcoin, currently trading at US$2,300. Ethereum needs to break beyond the US$2,500 barrier in order to continue gaining traction.

Avalanche and Solana, two more well-known cryptocurrencies, saw declines of 4% and 3.5%, respectively. A 1-3% fall was seen in BNB, Cardano, Dogecoin, Polkadot, Polygon, Chainlink, Toncoin, and Shiba Inu.

Currently, DeFi’s total volume is $6.98 billion, or 9.69% of the 24-hour volume of the whole cryptocurrency market. At $63.22 billion, the total value of stablecoins represents 87.8% of the 24-hour volume of the cryptocurrency market.

Currently, 51.04% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased 17.7% to $31.6 billion in the last day.Crypto Price Today: Bitcoin is trading over $45,200; Avalanche and Solana are down up to 4%

Quick analysis of the cryptocurrency pricing on November 7: The worldwide market capitalization increased to $1.32 trillion.

Bitcoin (BTC) reclaimed the $35,000 milestone early Monday, reversing a small drop following the conviction of embattled crypto platform FTX creator Sam Bankman-Fried for money laundering. According to CoinMarketCap, the total market’s Fear & Greed Index was 73 (greed). Popular altcoins, such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC), all finished in the green. MultiversX (EGLD) was the highest gainer of the day, gaining more than 37% in a single day. GateToken (GT), on the other hand, became the biggest loser, losing more over 1% in a 24-hour period.

Bitcoin Price Today
According to CoinMarketCap, the price of bitcoin was $35,032.16, representing a 0.81 percent decline in a 24-hour period. According to the Indian exchange WazirX, the price of Bitcoin was Rs 30 lakh.

Ethereum Price Today
At the time of writing, the price of ETH was $1,887.45, representing a 0.20 percent 24-hour increase. According to WazirX, the current price of Ethereum in India is Rs 1.62 lakh.

Dogecoin Price Today
DOGE gained 2.80 percent in a 24-hour period, according to CoinMarketCap data, and is currently trading at $0.07185. According to WazirX, the Dogecoin price in India is Rs 6.11.

Litecoin Price Today
Litecoin gained 0.49 percent in a 24-hour period. It was trading at $71.85 at the time of writing. In India, the price of LTC was Rs 6,128.86.

Ripple Price Today
The price of XRP was $0.683, representing a 9.35 percent gain in a 24-hour period. According to WazirX, the current price of Ripple is Rs 59.04.

Solana Price Today
Solana was trading at $41.19, down 3.46 percent in 24 hours. According to WazirX, the SOL price in India is Rs 3,508.86.

Tuesday’s activity in the main cryptocurrencies increased ahead of tomorrow’s anticipated interest rate announcement from the US Federal Reserve.

At around 12:49 p.m., Ethereum, the largest peer, was up 0.44% to $1,797, while Bitcoin was down 0.18% at $34,278.

October has seen a 27% increase in bitcoin, and it is expected to end the month significantly higher than $34,000. November may experience a modest decline in order to maintain market stability, based on 2019, the year prior to the halving. The solid $33,200 level of support is what Bitcoin has to hold in order to advance. This week, the dominance of Bitcoin has somewhat decreased while Solana, Polkadot, and XRP all had daily increases.

Over the past day, the price of bitcoin has been largely stable at $34,300 as investors await the US Federal Reserve’s Wednesday interest rate decision. Bitcoin needs to break through the $34,700 barrier in order to continue rising; otherwise, it may have to look for support close to $34,000.

Over the past day, the value of the worldwide cryptocurrency market has increased by 0.37% to over $1.27 trillion.

Solana and Chainlink, two more well-known altcoins, increased by 9.9% and 5.13%, respectively. Moreover, the prices of Litecoin, Tron, Cardano, Toncoin, Polygon, Polkadot, and XRP all increased.

Currently, DeFi’s total volume is $4.17 billion, or 10.2% of the 24-hour volume of the entire cryptocurrency market. At $36.65 billion, the entire value of stablecoins represents 89.63% of the 24-hour volume of the cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, had a fall in market capitalization to $667 billion in the past day. Currently, 52.7% of the market is made up of Bitcoin, according to CoinMarketCap. The volume of BTC increased by 35.8% to $17.2 billion in the last day.

With Ethereum trading slightly over $1,765, Bitcoin is facing resistance over $35,000, where it registered a strong 15% weekly gain. The US jobs report and the Federal Reserve meeting are two macroeconomic events that could have an impact on the cryptocurrency market this coming week. Notwithstanding the upward trend, traders must use caution in analysing Bitcoin volatility.

Cryptocurrencies have been hit hard by fears that interest rate hikes will end the era of cheap money, with the world’s biggest digital asset, bitcoin, down more than 56% from this year’s high. Several crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions.

Singaporean crypto hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy on July 1. Once a formidable player in the digital asset space, 3AC’s downfall appeared to stem from the firm’s bet on the Terra ecosystem, which was behind it. terraUSD stablecoin failed. The token lost almost all of its value in May, draining nearly half a trillion dollars from the crypto market.

The highly leveraged 3AC was unable to meet calls for additional payment from the counterparties it borrowed from. As a result, crypto lenders BlockFi and Genesis Trading liquidated their positions in the firm. According to court filings, 3AC’s creditors say they are owed more than $2.8 billion.

CELSIUS NETWORK New Jersey-based crypto lender Celsius suspended withdrawals on June 12 and filed for Chapter 11 bankruptcy a month later, listing a $1.19 billion deficit on its balance sheet. It was valued at $3.25 billion in an October funding round. Celsius encountered complex investments in the wholesale digital asset market.

The company lured retail investors by promising annual returns of up to 18.6%, but struggled to meet redemptions as cryptocurrency prices fell. In its first bankruptcy filing, lawyers for Celsius said bitcoin mining could provide the company with a way to repay customers. Meanwhile, several state regulators are investigating Celsius’ decision to suspend customer selection, Reuters reported.

Crypto lender Voyager Digital, also based in New Jersey, has been a rising crypto star, reaching a market capitalization of $3.74 billion last year. But the collapse of 3AC dealt a major blow to Voyager, which was heavily exposed to the hedge fund. Voyager filed claims of more than $650 million against 3AC.

Voyager filed for Chapter 11 bankruptcy on July 6 and announced that it has $110 million in cash and crypto assets. Since then, the US Federal Deposit Insurance Corp has confirmed that it is investigating Voyager’s marketing of deposit accounts for cryptocurrency purchases that the company advertised as FDIC insured.

Crypto exchange FTX and Alameda Research, both founded by billionaire Sam Bankman-Fried, offered to buy all of Voyager’s digital assets and loans, with the exception of 3AC’s loans, and allowed Voyager customers to withdraw their assets from the FTX account. Voyager, however, dismissed the offer as a “low price offer” in a court filing.

Singaporean crypto lender Vauld filed for protection from its creditors in a Singapore court on July 8 after suspending withdrawals a few days ago. The company owes its creditors $402 million, The Block reports. Vauld is backed by billionaire investor Peter Thiel’s Valar Ventures, Pantera Capital and Coinbase Ventures. In a July 11 blog post, Vauld said it is discussing a possible sale to London-based crypto lender Nexo while exploring potential restructuring options.

Faced with a surge in withdrawals and a hit from 3AC, crypto lender BlockFi signed an agreement with FTX on July 1 that provides BlockFi with a $400 million revolving credit facility and includes an option that allows FTX to buy the company for up to $240 million.

BlockFi was hit hard by the cryptocurrency crash and implemented several cost-cutting measures in June, including cutting staff by 20% and reducing executive compensation. The company was valued at $3 billion in a funding round last year.