Crypto Market Today: There has been a continuous decline in the crypto market for the last few days. In the last 6 weeks, investors have lost approximately $1.2 trillion from the crypto market. The world’s oldest and famous crypto currency Bitcoin is also continuously falling.
Bitcoin prices have fallen by 30 percent since the beginning of this year. Bitcoin had reached the level below $90,000 for the first time in 7 months. Crypto investors are quietly leaving the market. Which is having a direct impact on its prices. Even on Wednesday’s trading day, a decline of 1.20 percent was seen in the price of Bitcoin and it was trading at $90,301.
Why is the price falling?
The reason behind the ongoing decline in crypto may be the Trump administration’s lack of crypto-friendly stance. Less expectation of cut in US interest rates, ETF withdrawals and profit booking by big investors could be the main reasons for this.
The effect of the continuous decline is that big traders and institutions are avoiding betting on crypto currencies like Bitcoin. Some market experts believe that this situation could be the beginning of a new crypto winter. At the same time, some experts feel that crypto can make a strong recovery after the risks reduce.
condition of crypto market
Till the time of writing on Wednesday, Bitcoin was trading at $90,503. Which shows an increase of 0.54 percent compared to the previous day. At the same time, Ethereum was trading at $3,023.75 and Tether at $0.9992. A rise of 0.62 percent was seen in Ethereum and 0.04 percent in Tether.
Solana was up by 1.52 percent and was trading at $138.21. BNB has also seen a rise and it was trading at $922.06 with a jump of 1.41 percent.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
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