Bitcoin’s price on Friday fell below $40,000 as most other cryptocurrencies, including Ethereum, were trading in the red, according to coindesk.
BITCOIN, ETHER DOWN
The world’s largest cryptocurrency, Bitcoin, was down by over three per cent to $38,593.50.
Ethereum was down by over 2.5 per cent at $2,548.86.
OTHER CRYPTOCURRENCIES
Other top altcoins by market capitalization also fell in the red zone.
XRP was down by 0.68 per cent, Solana fell by 2.82 per cent, Cardano fell by 2.18 per cent, Polkadot was 0.46 per cent, and Stellar was down by 4.69 per cent.
Dogecoin fell by 1.30 per cent, Polygon was down by 0.75 per cent, and Shiba Inu was down by over 3 per cent.
CRYPTO MARKET IN INDIA
Meanwhile, the Indian crypto market saw an exodus of funds from foreign investors. India is one of the world’s biggest crypto markets by trading volume and users.
“The global market cap and trading volume fell on Thursday. Bitcoin and Ethereum dipped below US$39,000 and US$2,600 levels. BTC’s support between US$35,000 to US$37,000 can stabilize the pullback,” Edul Patel, CEO and Co-founder, Mudrex said.
“According to the market cap, the top cryptocurrencies are also running red over the past day. The situation is due to the ongoing war crisis between Russia and Ukraine affecting the economy, hiking the inflation rates. We could see a lot of high volatility in the crypto market this month due to the war tension,” Patel said.
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