Crypto Price Today: Bitcoin slips below $25,800; XRP, Solana fall up to 2.24%
BNB, USD Coin, XRP Dogecoin, Cardano and Solana fell up to 2%.
ETH was trading at $1,580.67 while Dogecoin was at $0.06124.
«In the last 24 hours, Bitcoin briefly lost its crucial support at $25,000 for the first time in almost three months. For BTC to not enter panic mode, $24,500 support remains sacrosanct. This is the level above which BTC has been trading for almost 6 months now. As for ETH, which fell 2.8%, the support of $1,600 has been breached and it is currently trading around $1,550,» Shubham Hudda, Senior Manager, CoinSwitch Markets Desk said.
In Hudda's opinion, a major catalyst for SOL’s ($17.95) sell-off is still Wednesday's expectation of FTX unlock, pointing out that this cryptocurrency was already down by around 50% from its recent high in July. «Additionally, given that a majority of the SOL is time-locked for FTX, we could very well see a 'sell the rumor, buy the news’ event playing out on Tuesday,» he added.
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View Details»Prospects of cryptocurrency, which has an inverse relationship with the US dollar, will be hinging upon the movement in the USD as investors in different asset classes await US CPI Data slated for release today, along with the US Producer Price Index (PPI) data and the retail sales data which is expected to be published on Thursday.
Among the top-performing cryptocurrencies, MKR leads with a remarkable gain of 120%, followed by OMG with 35%, ZIL with 26% and MATIC with 15%. The
