This Monday morning bitcoin is trading around 33,468. Due to increase in interest rates across the world and global reasons, there is a decline in the equity market. Its effect is also visible in the crypto market.
Cryptocurrency Prices Today: There is an all-round decline in the cryptocurrency market. The world’s largest and most popular cryptocurrency, bitcoin, has now slipped below its crucial support level of 34000. This Monday morning bitcoin is trading around 33,468. Due to increase in interest rates across the world and global reasons, there is a decline in the equity market. Its effect is also visible in the crypto market.
Bitcoin is currently trading around its four-month low. This is its lowest level since January. Bitcoin has almost halved in the last 6 months. According to CoinGecko, the value of the global crypto market has slipped by more than 3 percent today to $1.65 trillion in the last 24 hours.
Ethereum Below $2500
On the other hand, the Ethereum blockchain-linked Coin and the second largest cryptocurrency, Ether, also fell by more than 3% to $2,499. Meanwhile, the price of Dogecoin was trading down about one percent today at $0.12. At the same time, Shiba Inu has also fallen more than 5% to $ 0.00018.
Due to global reasons,
the condition of other currency is also looking bad. In the last 24 hours, Solana, Polkadot, Cardano, Uniswap, Terra, XRP, Avalanche, Polygon, Stellar are trading with a fall of 2 to 5 percent. While Tron grew by more than 4% during this period. Bitcoin has traded in the $35,000 to $45,000 range most of the time this year. The crypto market has been affected by the Russia-Ukraine crisis, rising inflation and fears of a Fed rate hike.
Dogecoin has fallen more than 52 percent in the last 6 months. Today the price of Dogecoin (Dogecoin price today) is running at $ 0.12, which was trading at $ 0.28 6 months ago. Cardano’s situation is even worse. The price of cardano has decreased by more than 61% in the last 6 months. Today on May 7 the price of cardano is below $ 0.77 per coin, which was trading above $2.25 6 months ago.