Crypto Price Update: Bitcoin, Ether, Dogecoin Slip; Polkadot and Avalanche Witness Price Hike

The crypto market showed a diverse trend on Wednesday as several cryptocurrencies declined while few enjoyed a price rise. The world’s largest cryptocurrency, Bitcoin, witnessed a price decrease after a marginal increase the day before. Livemint reports that Bitcoin was trading at $21,190, and the global crypto market cap decreased from $1.07 trillion to $1 trillion in the last 24 hours. Ethereum, too suffered a similar fate as the cryptocurrency’s price fell to $1,613; the continuous downward has worried the investors. Dogecoin sustained a 2% dip to $0.06 while Shiba Inu traded at $0.000013, 1% below yesterday’s price.

Bitcoin and Ethereum’s market scenario

Livemint quoted Edul Patel, Chief Executive officer and Co-founder of global crypto investment platform Mudrex; he said, “After buyers confirmed their power, Bitcoin has once again bounced off the $21,000 mark after touching the $20,000 level. If BTC can break above the current level, there are chances to see the breakout of its recent resistance at $21,774. Ethereum also made a false breakout at the $1,600 level. If the price can hold above this vital level, bulls have a chance to seize the initiative. The following critical level of ETH would be $1,700.” Several cryptocurrencies, including BNB, Chainlink, Apecoin, XRP, Uniswap, Tron, Litecoin, Stellar, Binance, USD, Polygon, and Solana, showed a mixed market pattern with a marginal decrease over the last 24 hours.

Polkadot, Avalanche, and Tether enjoyed price-rise

Cryptocurrencies such as Polkadot and Avalanche stood out as their prices increased over the last 24 hours. Livemint reports that cryptocurrencies have traded with US equities this year; the Federal Reserve’s interest-rate hike has influenced both. The crypto market suffered a significant blow in the year’s first half, leading to the market crash. Crypto giant Bitcoin was almost 70% below its peak in November last year.