Crypto Prices Today: Bitcoin, Ether Join Most Cryptocurrencies in Reflecting Notable Losses

The crypto price chart was dipped in the red on Monday, December 18 with almost all popular cryptocurrencies showing losses. Bitcoin recorded a loss of 2.44 percent on Monday. Along with this, the oldest and most expensive cryptocurrency is currently trading at a price point of $ 40,995 (about Rs 33.9 lakh). This marks a significant drop of $1,857 (roughly Rs. 1.5 lakh) in the value of Bitcoin compared to last week, when the asset was trading at $42,854 (roughly Rs. 35.7 lakh).

“Bitcoin is currently stable above $40,000 (approximately Rs 33 lakh) after market participants booked profits over the weekend. If buyers can maintain control above the current levels, there is a possibility of a move towards $42,700 (approximately Rs 35.4 lakh). With neither buyers nor sellers dominating and the rate moving away from key support and resistance levels, BTC is likely to touch $42,000 (roughly Rs. 34.8 lakh) in the coming days, Edul Patel, co-founder and CEO of Mudrex, told Gadgets 360. ) can do business on. ,

On Monday, the price of Ether fell by 2.15 percent. At the time of writing, ETH was valued at $2,170 (approximately Rs 1.80 lakh). This is a decrease of $116 (approximately Rs 9,626) from last week’s price of Ether of $2,286 (approximately Rs 1.90 lakh).

Cryptocurrencies trading in the red today include Binance Coin, Ripple, Solana, Cardano, and Dogecoin.

Polygon, Polkadot, Wrapped Bitcoin, Shiba Inu, Litecoin and Bitcoin Cash also joined Shiba Inu, Stellar and Monero in the losses in BTC and ETH.

The overall valuation of the crypto sector decreased by 2.22 percent in the last 24 hours. The current crypto market cap is $1.55 trillion (approximately Rs 1,28,56,947 crore), as shown coinmarketcap,

“After the initial shock, flexible investors are likely to re-enter the crypto market given the ongoing bullish macro environment for risk-assets. The Federal Reserve’s decision to hold off on rate hikes and a possible rate cut in 2024 could increase demand for crypto,” the CoinDCX research team told Gadgets360.

Dogecoin, Bitcoin Hedge and Nano Dogecoin had negligible gains on Monday.

“As we approach the holiday season, we can expect some decline in trading activity due to which the market may remain at current levels. The Bitcoin ETF approval clock is ticking and once the final approval is received we can expect a crypto super cycle in 2024. Interest rate cuts by the US Fed could also boost the crypto market in 2024, Shivam Thakral, CEO of BuyUcoin, told Gadgets 360.

Meanwhile, according to data from analytics firm IntoTheBlock, on-chain data indicates a flow of $860 million (roughly Rs. 7,133 crore) worth of bitcoins into crypto exchanges over the past week, the highest since March this year.

“Investor confidence in BTC continues to strengthen due to the general perception that BTC is in a strong position to move into 2024. The market is likely to rally again,” Partha Chaturvedi, head of investments at CoinSwitch Ventures, told Gadgets360.


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