In cryptocurrencies, the price of the world’s most popular digital token Bitcoin is trading down more than 2% today at $20,644. The value of the global crypto market remained above the $1 trillion mark today, although it was almost flat for the past 24 hours at $1.07 trillion, according to CoinGecko.
On the other hand, Ether, a coin linked to the Ethereum blockchain and the second largest cryptocurrency, also fell more than one percent to $1,573. Meanwhile, the price of dogecoin is trading up almost 5% today at $0.11, while Shiba Inu is also around 2% down at $0.000011.
“Bitcoin is back in bearish territory as it trades below the $21,000 level. BTC is down almost 2% since yesterday due to low volume. If the bulls can hold the lead above the current level, we can see it reach the $21,000 mark, or we can see it fall to the $20,400 level. On the other hand, Ethereum lost the $1600 mark as the bears were active in the market. If the bears continue, there is a chance that ETH will fall below the $1,500 level, taking the crypto to the $1,400 area by the end of the month,” Edul Patel.
The performance of other crypto currencies today also decreased such as Binance USD, Avalanche, Solana, Tether, XRP, Terra, Tron, Litecoin, Uniswap, ApeCoin, Polygon, Cardano, Stellar trading at a discount in the last 24 hours as Chainlink, Polkadot acquired.
The market value of circulating cryptocurrencies has decreased in half this year after the Federal Reserve raised interest rates, preventing the flood of the epidemic period that caused a sharp rise in the price. Investors’ interest in valuations has waned since prices have fallen sharply from their peak.
After hitting almost $69,000 in November last year, the price of Bitcoin has been trading in a narrow range of around $20,000 since June of this year.