Bitcoin Price Today: Crypto Price Today Live: Bitcoin Drops Below $22,500; Litecoin, Dogecoin drop up to 8%

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New Delhi: Cryptocurrency markets were trading in the red on Friday, with the global crypto market capitalization down 4%. Bitcoin (BTC) fell 4.5% to $22,386, while Ethereum (ETH) was below the $1,600 level. BTC volume in the past 24 hours was around $26.01 billion, up 12.56% in the past 24 hours.

“Over the past 24 hours, Bitcoin, Ethereum and other cryptocurrencies have lost value due to the release of US manufacturing data and uncertainties regarding access to banking services for crypto companies in the States. In addition, the Silvergate fallout also played a role Bitcoin is at its lowest point in about two weeks and is trading below $23,000 to $22,300,” said Edul Patel, co-founder and CEO of Mudrex.

The other top tokens were also trading lower on Friday. Litecoin fell 8%. Dogecoin, Solana, Cardano and BNB were also trading with cuts. The global cryptocurrency m-cap was trading at around $1.03 trillion, down 4.01% in the past 24 hours.

Total DeFi volume is currently 5.39 billion, or 9.78% of the total 24-hour crypto market volume. The volume of all stablecoins is now $50.24 billion, or 91.11% of the total 24-hour crypto market volume.

The market capitalization of Bitcoin, the largest cryptocurrency in the world, was around $432.63 billion. Bitcoin dominance is currently at 42.09%, down 0.23% on the day, according to CoinMarketCap.

“The big crypto-specific development to watch is the unfolding of events at Silvergate, as the crypto-enabled bank failed to file its annual report with the SEC, and its stock came under heavy selling pressure. are eagerly watching to see if there is another domino left to fall after the FTX fiasco,” said Parth Chaturvedi, Head of Crypto Ecosystem at CoinSwitch.

Rajagopal Menon, VP of WazirX, said: “Major market indicators point to neutral sentiment. The Relative Strength Index (14) sits at 42.82, with a neutral outlook. The Stochastic %K (14 , 3, 3) indicates a neutral outlook at 24.38 and the Average Directional Index (14) at 27.69 indicates a selloff.””The MACD level (12, 26), at 159.87, indicates a selloff The Rapid Stochastic RSI (3, 3, 14, 14) is at 14.28 with a neutral indicator, while the Williams Percent Range (14) at -89.48 is also signaling neutral,” Menon added.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12:03 PM, IST on Mar 03, 2023)

Bitcoin $22,386 -4.51% Ethereum $1,570 -4.57% Tether 1 -0.01% BNB $291.82 -2.46% Litecoin $89.21 -8.21%Shiba Inu $0.00001142 -4.52%Solana $21.08 -4.08 %

(Note: price change in the last 24 hours)

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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