Bitcoin Slips Below $17,000 Again As Ether, Most Altcoins Record Losses: All Details
Most cryptocurrencies struggled to weather the drop as December entered its third week, a few days before Christmas. Bitcoin on Monday opened trading with a loss of nearly one percent. Over the weekend, the most valuable crypto asset dropped significantly and is currently trading at $16,720 (approximately Rs 13.8 lakh). BTS, the world’s most popular cryptocurrency, took weeks to break through the $17,000 mark (roughly Rs 14.06) last week — before it slipped again. On international exchanges like Binance and Coinbase, BTC doesn’t have any gains and is trading lower than last week’s price.
ether participation Bitcoin and most other altcoins also suffered losses today. With a slight drop of 0.71%, ETH opened trading at $1,177 (roughly Rs 97,405), according to Gadgets 360’s Cryptocurrency price tracker.
Last week, ETH’s weekly closing value stood at $1,270 (roughly Rs 1.05), above $93 (roughly Rs 7,963).
“BTC failed to hold up after the Federal Reserve raised interest rates. ETH is also experiencing a significant drawdown due to increased selling pressure. It is unlikely that we will see a quick reversal at this point. To regain the initiative, the bulls must push the BTC price above $16,800 (roughly Rs 1.38),” Edul Patel, CEO and co-founder of Mudrex told Gadgets 360.
Stablecoins like fastener, USDand Binance US Dollar saw profits on Monday.
Cardano, polygon, polka dots, Litecoin, solana, Uniswapand Chain link – all are open with a small discount today.
dogecoin and Shiba Inu No profit was also recorded.
The overall crypto market cap at $850 billion (approximately Rs 70,337) two days ago on Dec 16, now at $807 billion (Rs 66,778), has lost a whopping 43 billion dollars (about 3,558 rupees) over the weekend.
Meanwhile, only a handful of altcoins turned a profit on Monday. Including Binance Coins, Lion, avalanche, The universe, Stellar, Elrond.
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