Bitcoin

Crypto Price Today: Bitcoin below $22,700; Binance, Ethereum shed over 5%

New Delhi: The cryptocurrency market was trading in the red on Wednesday. Bitcoin (BTC) fell 1.89% to below the $22,700 mark, whereas Ethereum (ETH) slid below the $1,600 level.

BTC volume rose 2.24% to approximately $27.4 billion.

“The trading range of Bitcoin and Ether has begun to narrow as the two largest cryptocurrencies by market capitalization seek new areas of support. Following last week’s 8% and 5% gains, the price movement of BTC and ETH has yet to exceed a percentage point in the last two days,” Rajagopal Menon, Vice President, WazirX said.

The global cryptocurrency market cap was trading around $1.02 trillion, falling 3.23% in the last 24 hours.

The total volume in DeFi is currently $5.23 billion, 9.21% of the total crypto market 24-hour volume. The volume of all stablecoins is now $50.25 billion, which is 88.55% of the total crypto market 24-hour volume.

The price of Bitcoin, the world’s largest cryptocurrency, hovered around $436.29 billion, with a dominance of about 42.62%, an increase of 0.59% over the day, according to CoinMarketCap.

“The crypto market is having a delightful start to the year as it is back above the crucial $1 trillion mark. The crucial Fed meeting next month will be a closely watched event as it will set the course of monetary policies and the rate hike will be the central point of discussion. Fed has sent out feelers that it may end its hawkish stance but the outcome of the meeting will decide the market mood in the coming weeks,” Mahin Gupta, Founder of Liminal said.Crypto Cart: Quick (Source: coinmarketcap.com, data as of 10.44 hours, IST on January 25, 2023)

  • Bitcoin $22,626 -1.83%
  • Ethereum $1,547 -5.46%
  • Tether $1 0.01%
  • USD Coin $0.999 -0.01%
  • BNB $301.74 -6.31%
  • XRP $0.4065 -3.25%
  • Dogecoin $0.08417 -6.23%
  • Cardano $0.3535 -6.46%
  • Polygon $0.9595 -4.69%
  • Polkadot $6.18 -6.78%
  • Tron $0.06046 -4%
  • Litecoin $87.63 -3.31%
  • Shiba Inu $0.00001124 -7.23%
  • Solana $22.92 -7.21%

(Note: Price change in last 24 hours)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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