Bitcoin Slips Below Crucial $67,000 Level, Crypto Market Sees Bearish Turn in Last 24 Hours

The last 24 hours have brought price drops in most cryptocurrencies as the cryptocurrency market has taken what experts are calling a “bearish turn.” Bitcoin recorded a loss of 1.24% on Tuesday, April 2. With this, the value of the asset dropped to $66,102 (around Rs. 55.1 lakh). Market analysts had termed $67,000 (around Rs. 55.8 lakh) as the crucial price point for BTC, beyond which the asset was expected to rise easily, but now that BTC has fallen below this value , analysts fear that BTC could fall further lower.

“In the last 24 hours, the market has taken a bearish turn. Bitcoin is currently trading below the 20 EMA D, indicating bearish sentiment. In the coming days the focus will be on BTC ETF inflows and US macroeconomic announcements,” the CoinDCX Research team told Gadgets360 commenting on the market situation.

Ether Tuesday reflected a price decline of 3.71%. Its current trading value stands at $3,270 (approximately Rs. 2.72 lakh). In the last 24 hours, the value of ETH has reduced by $125 (around Rs. 10,420).

“ETH, after hitting a recent high of $4,093 (around Rs. 3.41 lakh), witnessed a sharp correction and prices fell by nearly 25%. Traders remain immersed in speculation regarding the potential approval of a spot Ether ETF in May,” the ZebPay trade desk told Gadgets360.

Most cryptocurrencies are trading at a loss on Tuesday along with BTC and ETH. These include Binance coin, Solana, Ripple, Dogemoneta, Cardano, AvalancheAND Shiba Inu.

Other losing altcoins, as of Tuesday, include Polka dot, Tron, Chain shirt, Polygon, Litecoin, UniswapAND Close to the protocol.

“The top 20 cryptocurrencies by market capitalization are currently trading in the red. As a result of the market performance over the last 24 hours, the cryptocurrency market has observed total liquidations of over $490 million (around Rs. 4,084 crore), including $134.74 million of BTC (around Rs. 1,123 crore) “the CoinSwitch Markets Desk told Gadget360.

The overall cryptocurrency market valuation has fallen by 5.92% in the last 24 hours. The current cryptocurrency market capitalization stands at $2.52 trillion (approximately Rs. 2,10,07,274 crore), according to CoinMarketCap.

Stablecoins like it Bind AND Currency in USD joined altcoins as Bitcoin Cash, Leo, MoneroAND Iota managed to post smaller gains on Tuesday.

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