Crypto Price Today: Bitcoin falls below $43,400; Ethereum, Solana jump up to 14%
Other popular altcoins, such as Solana and Cardano advanced 14% and 6%, respectively. Also, BNB, Avalanche, Tron, Chainlink, Polkadot, Siba Inu, and Litecoin surged. On the other hand, XRP, Dogecoin, and Toncoin declined.
BTC encountered a dip to $43,000 during the day, pulling back from its swift ascent to nearly $45,000 earlier this week. This suggests that traders opted to secure profits after the largest crypto's breakout from $38,000 a week ago, said CoinDCX Research Team.
On the flip side, ETH witnessed a 5% upswing over the same period, reaching $2,372, marking its highest level since May 2022. This upward movement also positively influenced the prices of other ETH-related cryptocurrencies, positioning them as the top performers of the day. Ethereum's upsurge is credited to heightened institutional interest and the hopeful anticipation of an ETF approval by the SEC, CoinDCX added.
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»«From a technical standpoint, BTC is currently situated at the $44,000 resistance level. The overall momentum remains positive, with no clear signals of a reversal or bearish trend. Minor pullbacks and corrections are considered healthy for the current scenario,» CoinDCX said.
Meanwhile, Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said, «The current phase of sideways correction is good for building steam for the next
