crypto price today: Crypto Price Today Live: Bitcoin Tanks Below $27,600; Polygon, Dogecoin drops up to 4%

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Cryptocurrency markets were trading in the red on Tuesday ahead of US inflation data. Bitcoin (BTC) fell 2.14% to $27,580 and Ethereum (ETH) was below the $1,850 level.

BTC volume stood at around $17.73 billion, up 32.6% in the past 24 hours.

“Bitcoin (BTC) has fallen 7% since Saturday as reports of network congestion and subsequent suspension of BTC withdrawals by Binance led to market speculation. However, price trends continue to demonstrate strong consolidation as we expect a rebound later this week. US CPI inflation data will be key to maintaining this market structure,” said Vikram Subburaj, CEO of Giottos Crypto Platform.

Other top crypto tokens were also trading lower. The polygon has shrunk by more than 4%. Litecoin, Dogecoin, and XRP were also trading at discounts. The global cryptocurrency market capitalization traded at around $1.14 trillion, down 1.73% in the past 24 hours.

Total DeFi volume is currently 3.27 billion, or 7.78% of the total 24-hour crypto market volume. The volume of all stablecoins stood at $37.92 billion, or 90.29% of the total 24-hour crypto market volume. The market capitalization of Bitcoin, the largest cryptocurrency in the world, was around $534 billion. Bitcoin dominance is currently at 46.92%, down 0.17% on the day, according to CoinMarketCap. “The crypto market saw new weekly lows as Bitcoin slipped below the $28,000 market on Monday, wiping $60 billion from the crypto market. altcoins as well, with ETH, XRP, SOL, and DOT seeing a similar downtrend,” said BuyUcoin CEO Shivam Thakral. latest price drop. market is expected to remain choppy this week due to fluid macro factors,” he added.

Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 1.08 a.m., IST May 09, 2023)

Bitcoin $27,580 -2.14%Ethereum $1,842 -1.03%Tether $1.00 -0.08%BNB $314 -0.96%XRP $0.4243 -3.16%Cardano 0.3641 $ -1.01% Dogecoin 0.07266 $ -2.70 % Polygon 0.8923 $ -4.24 % S olana $20.61 -2.91% Pea $5.36 -1.31% Tron $0.06865 -0.10% Litecoin $78.51 -3.76%Shiba Inu $0.000008799 -1.96%

(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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