Crypto Price Today: Bitcoin falls below $41,200; Shiba Inu, Avalanche shed up to 6%
cryptocurrency market cap also declined nearly 2% to around $1.56 trillion in the last 24 hours.
At 12.31 p.m., BTC was trading 1.9% lower at $41,163, while the second most popular token, Ethereum, was down 1.6% at $2,178.
Shivam Thakral, CEO of BuyUcoin, said, «As we approach the holiday season, we can expect some dip in trading activity due to which the market may remain at current levels.»
Meanwhile, Edul Patel, CEO of Mudrex, said, «After a weekend of profit-taking, Bitcoin is consolidating above the US$40,000 level, with the potential for a move towards US$42,700 if buyers maintain control.»
Did you Know?
As a beginner to cryptocurrency investing, you should consider two critical things. First, you should determine and understand your risk tolerance, as cryptocurrencies can be volatile. Only invest what you can afford to lose. Secondly, don’t put all your funds in one cryptocurrency; diversify to mitigate risks. Deciding where to invest your hard-earned money can be difficult.
View Details»«The absence of clear dominance by either buyers or sellers, combined with the rate positioned away from support and resistance levels, suggests BTC might trade sideways between US$41,000 and US$43,000 in the coming days,» Edul said.
Other popular altcoins, such as Shiba Inu and Avalanche, fell 6% and 5%, respectively. Also, BNB, XRP, Cardano, Solana, Dogecoin, Tron, Polkadot, Chainlink, Polygon, and Toncoin declined.
The total volume in DeFi is currently $6.82 billion, 13.29% of the total crypto market 24-hour volume. The volume of all stablecoins is now $46 billion, which is 89.64% of the total crypto market 24-hour volume.
Bitcoin's dominance is currently 51.77%, according to CoinMarketCap. BTC volume in the last 24 hours
