Cryptocurrency prices today: Bitcoin slides further as global crypto market dips – India Today

The cryptocurrency market lost momentum on Wednesday as valuations of top virtual coins slid further due to global uncertainty amid rising inflation and the ongoing Covid-19 situation.

Bitcoin, the worlds most popular cryptocurrency, traded at $41,761.80 or 1.22 per cent lower than its value 24 hours ago at 12:10 pm. Bitcoins market capitalisation fell below $800 billion and the 24-hour trade volume remained steady at $900 million.

Ether, the native token on the Ethereum platform and the second-most popular cryptocurrency, also fell over the past 24 hours. It traded just above $3,100 or 2.80 per cent lower at the time of publication.

Crypto highlights | Check yesterdays prices

The popular cryptocurrencys market capitalisation fell to $356 billion and the 24-hour trade volume was $734.10 million.

All other smaller cryptocurrencies took a hit due to the weak momentum seen across the virtual coin markets across the globe. Market watchers have asked crypto investors to proceed with caution as the situation remains volatile.

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Commenting on the current trend in the cryptocurrency market, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, The global crypto market cap dipped by 1 per cent, while the market volume has increased by 1 per cent in the past 24 hours.

Bitcoin and Ethereum continued to trade below $42,000 and $3,400. BTC's price has steadily declined since reaching its all-time highs of $69,000 on November 10. Large crypto investors seem to be accumulating BTC amid flat price action, he added.

The other cryptocurrencies are also experiencing a similar dip. Cardano, which outperformed BTC and ETH, has also been down by 7 per cent. Meanwhile, Stacks picked up nearly 13 per cent, ETC and THETA increased by 7 per cent.

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap

Volume (24 Hours)

Bitcoin

41,769.73

-1.23%

$790.84 billion

$912.67 million

Ether

3,105.50

-3.06%

$365.40 billion

$734.10 million

Dogecoin

0.167027

-2.80%

$22.19 billion

$906.67 million

Litecoin

135.93

-8.14%

$9.44 billion

$58.32 million

XRP

0.742613

-2.41%

$74.25 billion

$2.17 billion

Cardano

1.40

-10.33%

$46.16 billion

$360.49 million

DISCLAIMER: The cryptocurrency prices have been updated as of 12:30 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.

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Cryptocurrency prices today: Bitcoin slides further as global crypto market dips - India Today