Crypto Price Today: Bitcoin, Ether lead losses as most cryptocurrencies see price correction

On Friday, November 17, Bitcoin saw a decline of 2.87 percent. With this, the price of Bitcoin slipped to $36,341 (about Rs 30.2 lakh). Bitcoin’s value has dropped by $1,132 (approximately Rs 94,243) in value terms in the last 24 hours. This week saw the price of Bitcoin fall twice. Although these declines have been minor, experts call them an important phase of price correction for crypto assets. Along with Bitcoin, many other cryptocurrencies are also showing losses today.

Ether suffered a loss of 3.52 percent on Friday. At the time of writing, ETH was trading at $1,979 (approximately Rs 1.64 lakh). The price of ETH has decreased by $76 (approximately Rs 6,327) in the last day.

“BTC continues its price-correction phase. While about $21 million (about Rs 174 crore) in long positions has been wiped out as per Coinglass data, we are in such a market situation that investors left open the possibility for both new highs or deeper price action in the red Is. If green price action is recorded, we could also see a try by BTC for the range of $38,000 (roughly Rs. 31.6 lakh) – $40,000 (roughly Rs. 33.3 lakh),” Partha Chaturvedi, Head of Investment at CoinSwitch Ventures, told Gadgets 360. Told 360.

Binance Coin, Ripple, Cardano, Tron, Polygon, Chainlink, and Polkadot – all recorded declines today.

Litecoin, Shiba Inu, Bitcoin Cash, Leo, Stellar and Uniswap also joined the red side of the crypto chart.

The overall crypto market valuation has declined by 2.53 percent in the last 24 hours. Currently, the crypto market cap is $1.39 trillion (approximately Rs 115,73,292 crore). coinmarketcap,

“There remains a strong sense of caution among investors, which underlines the nuanced nature of the current market environment. While trading volumes for the top two market-cap tokens, BTC and ETH, have shown strong activity, the application for an Ethereum ETF by BlackRock has favorably influenced market sentiment towards Ethereum, at least for the time being, “Rajagopal Menon, Vice President, WazirX told Gadgets360.

Meanwhile, cryptocurrencies that managed to make profits include Tether, Solana, USD Coin and Dogecoin.

Avalanche surged more than 76 percent in the past week after JPMorgan and Apollo used the network to demonstrate how asset managers can tokenize funds.


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