Crypto Price Today: Bitcoin falls below $27,700; Polygon, Polkadot drop over 3%
cryptocurrency markets were trading in the red on Tuesday amid geopolitical tensions in the Middle East. Bitcoin was down 0.7% at $27,660, while Ethereum was below the $1,600 level.
Meanwhile, the global cryptocurrency market cap declined 1.24% to around $1.08 trillion in the last 24 hours.
Other crypto tokens also declined. XRP, Solana, and Dogecoin fell by over 2%. While Toncoin, Polygon, and Polkadot plunged over 3%.
«Bitcoin’s price is consolidating above the $27500 mark due to long liquidations following the rising geopolitical tensions in the Middle East and an uptick in oil prices. Bitcoin’s value has currently risen by 66.62% over the year. If the markets turns bearish, Bitcoin will find support at around $27,195,» said Edul Patel, CEO of Mudrex.
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View Details»Atulya Bhatt, CMO of BuyUcoin, said, «The latest tension between Israel and Hamas is changing the market equation faster than we expected. The disturbance in the region may result in high oil prices and change the economic dynamics at a global level. BTC and Ether are changing hands at $27,624 and $1,584 level which is a significant dip from the previous day. Markets are expected to remain choppy in the coming weeks owing to the uncertain geo-political conditions.»
In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, declined to $540 billion. Bitcoin's dominance is currently 50.26%, according to CoinMarketCap. BTC
