BTC, ETH lose Steam, most cryptocurrencies record losses before Diwali

The crypto market seems to be seeing more volatility now that the holiday season is approaching for India and other countries. Prior to Diwali, Bitcoin price dropped 0.42% to $19,026 (about Rs 15.81) on Thursday, October 20. On international exchanges, Bitcoin also failed to make any gains. According to Binance and CoinMarketCap, the price of BTC has dropped by as much as 0.40%. The global price of BTC is currently hovering around $19,043 (around Rs 15.82).

Ether follow BTC to go down the price ladder with small losses. With a one percent loss, ETH is currently trading at $1,278 (roughly Rs. 1.06 lakh), indicating Cryptocurrency price tracker by Gadgets 360.

Most altcoins reflect red indicating losses after Bitcoin and Ether.

Including Cardano, Solana, Polygon, Polkadot, Tronand Uniswap.

Dogecoin and Shiba Inu also see their value decrease.

Over the past 24 hours, the global crypto market has dropped 0.62%.

Meanwhile, Tether, Money USD, Binance Coin, Stellar, Moneroand Elrond managed to see small but significant profits.

The majority of altcoins generally follow Bitcoin’s market movement.

Speaking to Gadgets 360, crypto research team CoinDCX said Bitcoin’s current range-bound movement continues as new Layer 1 blockchains strive for the block space to become the first Layer 1 blockchain available. ready for business to accept.

“Ethereum (ETH) is the current largest layer 1 blockchain that has surpassed Nasdaq by about 20% since mid-July. This number paints a different picture when considering the sell-off Ethereum faced after The Merge. as demand for Ethereum at these levels proves to be of interest to financial institutions and hedge funds,” said the ConDCX team.

Follow CoinMarketCapthe global crypto market cap is $921.02 billion (approximately Rs 76,53,419 crore).

Cryptocurrency is an unregulated digital currency that is not a legal tender and is subject to market risk. The information provided in the article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV will not be liable for any loss arising from any investment based on any perceived recommendations, forecasts or any other information contained in the article.

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