Bitcoin, Ether fall below key resistance levels

Bitcoin has been under considerable selling pressure over the past week, with market sentiment towards inflation and US Fed monetary policy testing support for riskier assets, and Monday’s opening has so far been no different. In terms of value, the price of bitcoin on exchanges like CoinMarketCap, Coinbase and Binance has dropped to around $39,000 (roughly Rs. At the time of writing, the value of bitcoin is down 0.69 percent in the past 24 hours and stands at $41,415 (roughly Rs.32 lakh) on Indian exchange Coinswitch Kuber.

On global exchanges, the price of bitcoin fell by 1.12 per cent in the last 24 hours to $39,155 (approximately Rs 30 lakh). According to data from CoinGecko, the value of BTC is down 1.2 percent week-on-day.

Like BTC, Ether has not had the best weekend and has had a poor start to the week. At the time of publication, Ether is valued at $3,048 (approximately Rs 2.5 lakh) on Coinswitch Kuber, while the value of the crypto is $2,872 (approximately Rs 2.2 lakh) on global exchanges, where the coin fell 2.12 percent over the previous year. Is. last 24 hours.

CoinGecko data shows that the value of the cryptocurrency has dropped significantly over the past week and is down 4.2% in the past week.

According to Gadgets 360’s cryptocurrency price tracker, most altcoins posted losses on the day as the global crypto market cap fell by 2.07 percent over the past 24 hours. Avalanche, Uniswap, Solana, Cosmos and Polkadot were among the biggest losers of the day, while Polygon, Binance Coin and Cardano also posted losses.

Shiba Inu and Dogecoin have also followed the altcoin line and declined in value. Dogecoin is currently priced at $0.13 (approximately Rs.10.5) after a decline of 4.14 per cent over the past 24 hours, while the Shiba Inu is valued at $0.00025 (approximately 0.002), down 3.17 per cent from the previous day.

The crypto market is playing a tune similar to traditional markets as factors such as the Russia-Ukraine crisis and the COVID-19 lockdown in China continue to cause supply chain troubles globally.

Meanwhile, Polygon Blockchain co-founder Sandeep Nelwal has said that India should set up a regulatory body dedicated to monitoring and shaping the crypto industry in the nation. The programming engineer, who now lives in Dubai, has said that representatives from the Reserve Bank of India (RBI), the GST Council and the federal finance ministry should be part of a newly formed body dedicated to monitoring and building up the crypto ecosystem in India . ,

Elsewhere, cricket non-fungible token (NFT) platform, Rario, has announced that it has secured $120 million (about Rs 915 crore) in a Series A funding round led by corporate venture capital, merger and acquisition arm Dream Capital. Dream Sports.

Rario, the world’s first Cricket NFT platform, revealed that they hold the largest share of Cricket NFT rights globally through exclusive partnerships with six international cricket leagues with a roster of over 900 cricketers.

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.


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