Bitcoin Down at $22,000; Ether, Polkadot Lose Up to 12% in a Day

Cryptocurrency Price Today: The global cryptocurrency market on August 2, Tuesday, took a bigger hit as it struggled to extend gains made during July. Trading volumes on the day remained muted with a 5.51 per cent increase over the past 24 hours as investors put a reign on activities over an apparent economic slowdown across the globe. The crypto market cap fell by 3.06 per cent over the past day to scale $1.05 trillion at the time of writing this article as major cryptocurrencies — including Bitcoin, Ethereum, Polygon, Shiba Inu, Dogecoin and Polkadot — shed up to 12 per cent during the same time frame.

Bitcoin has declined back to the $22,000 levels after nearing the $25,000 mark towards the end of last month and closed in red for three consecutive days till Monday. Bitcoin price today at the time of writing this article was $22,834.62, down by 1.98 per cent over the last 24 hours, data from CoinMarketCap showed.

“After edging above the $24K level, Bitcoin has declined marginally and closed in red for three successive days. Meanwhile, data indicates that long-term investors have accumulated approximately $64 billion worth of Bitcoin in the last 12 months. The 4-hourly trend for BTC continues to traverse within an ascending channel pattern. The next key resistance level for BTC is expected at $32,300. The daily RSI has maintained a strong position above the level of 50,” said a spokesperson at the WazirX trade desk on Tuesday.

Ethereum has also dropped to the $1500 level after scaling past the $1700 level during July-end in a back-to-back rally. On Tuesday, Ethereum lost nearly 7 per cent since open. Ether price today was standing at $1,581.80, down by 6.29 per cent over the last 24 hours.

“Ethereum dropped over 3 per cent yesterday and eventually slid below the $1,600 level. The trading volumes were tepid over the last few days with sellers dominating the markets. The weekly trend for Ethereum has formed a descending channel pattern with a recent bounce back from its support levels. The next key resistance for Ethereum is expected at $2,400 level. The daily RSI continues to remain above the 50 level,” said the WazirX trade desk spokesperson on the day.

Here are the top 10 cryptocurrencies and their prices on August 2, 2022, Tuesday, (According to data from coinmarketcap.com)

Bitcoin $22,834.62 or 1.98 per cent loss in the last 24 hours

Ethereum $1,581.80 or 6.29 per cent loss in the last 24 hours

Tether $1.00 or 0.00 per cent gain in the last 24 hours

USD Coin $1.00 or 0.01 per cent gain in the last 24 hours

BNB $278.28 or 3.20 per cent loss in the last 24 hours

Binance USD $0.9999 or 0.08 per cent loss in the last 24 hours

XRP $0.3704 or 2.33 per cent loss in the last 24 hours

Cardano $0.4924 or 5.04 per cent loss in the last 24 hours

Solana $40.19 or 6.94 per cent loss in the last 24 hours

Dogecoin $0.06624 or 4.39 per cent loss in the last 24 hours

Read all the Latest News and Breaking News here


Be the first to comment

Leave a Reply

Your email address will not be published.


*