Bitcoin, ether, other cryptos plummet as Shiba Inu jumps 70%. Check Cryptocurrency Prices Today

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Bitcoin prices today fell below $ 60,000, its lowest level in more than a week, after a record high reached last week. The world’s largest cryptocurrency by market cap was trading down 3.5% to $ 58,725. Bitcoin is up over 30% this month, and the digital token is still on track for its best month since February.

Bitcoin has seen a historic rally, surpassing $ 65,000 last week, as two US Bitcoin ETFs backed by futures debuted and attracted over $ 1 billion in cash. The ProShares Bitcoin Strategy ETF, or ticker BITO, has amassed over $ 1 billion in assets in just days after launching last week.

Ether, the coin linked to the ethereum blockchain and the second largest crypto, also sank about 5% to $ 3,959 and smaller tokens were hit as well, with Dogecoin and Solana each falling over 8% to $ 0.23 and $ 185 respectively. Many smaller alt coins have been hit hard, with Cardano and XRP losing 11% in the past 24 hours and Uniswap, Polkadot, Ltecoin dropping around 9-10%.

On the other hand, the Shiba Inu coin, which has seen a record rally in recent sessions, has jumped more than 70% in the past 24 hours to reach $ 0.00008241, according to CoinGecko. It is currently the 9th largest crypto with a market value of around $ 40 billion.

Shiba Inu trade has been volatile on the rise. The crypto crashed earlier this week after Elon Musk tweeted that he didn’t own the coin. However, the growing clamor from Robinhood Markets to add the Shiba Inu coin to its platform is helping the cryptocurrency rise to new heights.

Crypto funds posted inflows totaling $ 1.47 billion last week, the largest on record, according to digital asset manager CoinShares. Bitcoin saw 99% of entries totaling $ 1.45 billion last week. In addition, year-to-date inflows (YTD) now stand at $ 8 billion, breaking the 2020 record of $ 6.7 billion.

(With contributions from agencies)

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