BTC, ETH Continue to Trade Lower with Losses, Stablecoins See Some Profits
The crypto market has been going through turmoil for the last few weeks, because of which, majority of cryptocurrencies are seeing more losses than gains. On Monday, November 21, Bitcoin stepped into the trading arena in red. BTC values dropped by 3.97 percent to trade at the price point of $15,960 (roughly Rs. 13 lakh), as per the crypto price tracker by Gadgets 360. The pricing of BTC hardly saw notable changes on international exchanges as well. As per Binance and Coinbase for instance, BTC is trading at $15,986 (roughly Rs. 13 lakh).
Ethereum met with a similar fate, with roping in losses alongside Bitcoin. ETH recorded a 7.81 percent price plunge on the charts, to trade at $1,118 (roughly Rs. 91,540).
Majority of altcoins settled with losses today, following the price trajectories of BTC and ETH.
These include Binance Coin, Cardano, Uniswap, Polygon, and Polkadot.
Dogecoin and Shiba Inu also witnessed price drops.
“If buyers can push the price of BTC above the overhead trendline, we might see an upward trend this week. On the other hand, Ethereum also dipped by 8% over the weekend. If the selling pressure does not subside, ETH will likely remain under the bearish threat until the price remains below the trendline,” Edul Patel, the CEO and Co-Founder of Mudrex told Gadgets 360.
In the present market situation, only a few altcoins managed to make profits. These include stablecoins such as Tether, USD Coin, and Binance USD.
LEO, Dogefi, Bitcoin Hedge, and Flex rose by little in prices.
The overall crypto market fell by 4.21 percent in the last 24 hours. The present valuation of the crypto sector stands at $801.53 billion (roughly Rs. 65,61,543 crore), as per CoinMarketCap.