Bitcoin Below Key $20,500 Level; Solana, Ether Log Slight Gains
Cryptocurrency Price Today: The top 10 crypto coins on Thursday, September 15, were delivering a mixed bag of red and green over the past day. On the other hand the global cryptocurrency market rose by 0.25 per cent in an attempt to move back to the $1 trillion mark again, which it lost yesterday amid shocking inflation data. The cryptocurrency market was standing at $998.15 billion at the time of writing this article, data showed.
“The current pressure on the crypto market is a result of a broader sell-off in the traditional markets as investors move away from high-risk assets to safeguard their wealth from economic shocks. The soaring cost of food and energy along with geo-political uncertainty will keep the investors on their toes in the coming weeks.” said Tarusha Mittal, COO and co-founder of UniFarm.
Bitcoin could not recover on the day as it continued to trade below the $20,500 mark, a crucial point for the world’s largest cryptocurrency. Bitcoin price today was standing at $20,172.85, down by 0.37 per cent in the last 24 hours, according to data from CoinMarketCap.
“Bitcoin continues to trade below the US$20,500 level for another consecutive day due to the low buying volume confirming the seller’s pressure. If buyers can move BTC above the US$20,575 level, we may see some potential upward movement,” said Edul Patel, CEO and co-founder of Mudrex.
“The world’s oldest cryptocurrency, Bitcoin, lost a key support level at $21,000 after the latest CPI data showed red hot inflation numbers. Bitcoin and Ether lost roughly 8 per cent and 6 per cent of their value which resulted in the overall crypto market cap slipping below the $1 trillion mark,” added Mittal.
As mentioned by Mittal, Ether too, faced losses ahead of the Merge amid rising inflation, but recovered over the past 24 hours. Ethereum price today while writing this article was standing at $1,623.17, up by 1.58 per cent in a day.
“The second largest cryptocurrency, Ethereum, had gained nearly 2 per cenr over the past day ahead of the Merge. The volatility in the crypto market could be due to Ethereum’s transaction to PoS. As the Merge draws by, it seems like BTC and ETH are preparing for a key price movement,” noted Patel.
Here are the top 10 cryptocurrencies and their prices on September 15, Thursday (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $20,172.85 or 0.37 per cent loss in the last 24 hours
Ethereum $1,623.17 or 1.58 per cent gain in the last 24 hours
Tether $1.00 or 0.02 per cent gain in the last 24 hours
USD Coin $1.00 or 0.01 per cent loss in the last 24 hours
BNB $275.40 or 1.19 per cent loss in the last 24 hours
Binance USD $0.9994 or 0.09 per cent loss in the last 24 hours
XRP $0.3403 or 1.21 per cent gain in the last 24 hours
Cardano $0.4746 or 0.80 per cent gain in the last 24 hours
Solana $34.59 or 4.26 per cent gain in the last 24 hours
Dogecoin $0.06055 or 0.54 per cent gain in the last 24 hours
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