Bitcoin and Ether lose even more value over the weekend after the FTX bankruptcy. The global crypto market capitalization has lost 4.42% in the last 24 hours.

You Don’t Have To Be A Big Corporation To Start BITCOIN

Bitcoin price analysis shows that the price drop deepened over the weekend as a continuation of the spectacular FTX drop that took place over the past week. With FTX finally filing for bankruptcy just before the start of the weekend, the value of the world’s largest cryptocurrency continues to fall. As things stand, Bitcoin price has fallen by around 4.44% in the last 24 hours and is now hovering around $16,100 (approximately Rs. 12.99 lakh) on global exchanges, while BTC on exchanges Indians like CoinDCX The price is $18,157 (Rs. approx.). 14.65 lakh), which is 4.15 percent less than the value of the crypto asset on Sunday.

On global exchanges like CoinMarketCap, Coinbase and Binance, Bitcoin is valued at $16,099 (approximately Rs. 12.99 lakh), while data from CoinGecko shows that BTC is now 22.5% lower than at the beginning of last week . was

Ether, the largest smart contract token, did not have a great start to the week and, like BTC, witnessed a steady decline over the weekend. Currently, Ether is down about 5.87% in the last 24 hours on global exchanges. Meanwhile, on Indian exchanges, ETH is trading at $1,341 (approximately Rs 1.08 lakh), a drop of over 5.6 percent from the previous day’s values.

The Gadgets 360 cryptocurrency price tracker shows that most major altcoins also saw a sharp drop in their value, with global cryptocurrency market capitalization figures showing a 4.42 percent drop between Sunday and night and the early hours of Monday.

Cardano, Polygon, BNB, Cosmos, Channellink, Polkadot, Uniswap, TRON, Avalanche, and Monero continued to fall over the weekend, led by Solana, which lost more than 14% in the last 24 hours.

In the memecoin section, Dogecoin fell further after not having the best start to the week. Dogecoin is currently priced at $0.08 (roughly Rs. 6.59), after a price drop of over 10.7% in the last 24 hours, while Shiba Inu is valued at $0.0000088 (roughly 0.000708 rupees), 9.53% less than the previous day. .

The global cryptocurrency market has been in crisis following the moves made by FTX and Binance last week. The chain of events took Bitcoin to its new yearly low of $15,698 (approximately Rs 12.68 lakh). Despite the increase in interest rates by the US Federal Reserve, BTC has maintained an impressive performance by holding the bar above the $20,000 level (approximately Rs. 16.16 lakh), but has fell significantly in the middle of the week,” explains Adol Patel, CEO and co-founder of cryptocurrency investment firm Mudrex speaking with Gadgets 360.

Furthermore, the liquidation of Solana has also led to lower valuations, which has affected investor sentiment. After the latest news about the FTX hack, most cryptocurrencies fell over the weekend. Bitcoin and Ether are still trading in the red, maintaining sentiment due to continued selling. BTC had recovered to the $16,000 (approximately Rs. 12.92 lakh) level. If the bulls can sustain BTC above the current levels, we may see a trend towards $17,000 (approximately Rs. 13.73 lakh). Otherwise, there are chances of BTC reaching the $15,500 (approximately Rs. 12.52 lakh) level soon,” adds Patel.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information provided in the article is not intended to constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any loss arising from any investment based on any purported recommendation, forecast or any other information contained in the article.

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