Crypto Price Today: Bitcoin, Ether fail to see gains as price correction period dominates most assets

Bitcoin remained on the losing side of the crypto charts for the third consecutive day on Wednesday, October 13. After a loss of 2.37 percent, the value of BTC has fallen to its current price point of $40,867 (approximately Rs 34 lakh). The previous day saw a fall of $964 (approximately Rs 80,401) in the price of the crypto asset. Last week Bitcoin was trading at $44,000 (about Rs 36.6 lakh). According to market analysts, most crypto assets including Bitcoin are currently undergoing a price correction.

“Bitcoin is trading at $40,000 (approximately Rs 33.3 lakh) levels after experiencing liquidation ahead of the US interest rate decision scheduled for today. Despite being in the red, BTC has seen an eight percent increase in the month to date and an impressive 148 percent increase year-to-date. The recent low of $40,600 (approximately Rs 33.8 lakh) prompted consolidation of losses. BTC is facing resistance at $41,450 (approx Rs 34.5 lakh) and support at $39,500 (approx Rs 32.9 lakh),” Edul Patel, Co-Founder and CEO, Mudrex, commenting on the market situation. Told Gadgets360.

Ether price fell 3.17 percent to trade in losses along with Bitcoin on Tuesday. At the time of writing, Ether is worth $2,166 (approximately Rs 1.80 lakh). ETH price fell by $63 (approximately Rs 5,255) in the last 24 hours.

More cryptocurrencies recorded losses than profits today. These include Tether, Binance Coin, Ripple and Solana. Damage was also seen in Avalanche and Chainlink.

Other cryptocurrencies with losses today include Polygon, Polkadot, Shiba Inu, Leo, Stellar and Monero.

The overall crypto market cap also slipped down the value ladder for the third consecutive day today. After a fall of 2.44 percent, its current valuation is $ 1.53 trillion (approximately Rs 127,56,933 crore). coinmarketcap,

“Crypto market observers are closely monitoring SEC decisions, the behavior of significant holders, and key support and resistance levels shaping the broader crypto market,” Rajagopal Menon, vice president of WazirX, told Gadgets360.

Meanwhile, only a few cryptocurrencies saw modest gains today. These include USD Coin, Cardano, Cosmos, Elrond and Binance USD.

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