Cryptocurrency Price Today: Bitcoin and Ether Losses and Price Fluctuations Weigh Heavy on Most Altcoins

The cryptocurrency sector is experiencing volatility now that Bitcoin is approaching its fourth halving later this month. Bitcoin recorded a loss of 2.30% on Wednesday, April 10th. With this, the value of Bitcoin dropped to $66,147 (around Rs. 55 lakh) according to Gadgets360 Crypto price tracker. On international exchanges like Binance, Bitcoin is trading at a slightly higher price of $69,058 (around Rs. 57.4 lakh).

“Market demand for Bitcoin seems slightly disrupted by continuous price fluctuations. Bitcoin’s moving average hull indicates a “sell” sentiment that reflects broader market momentum. US CPI data is the next focal point for the market and could provide some insights into the Fed’s rate cuts. There is still ambiguity over the rate cuts expected in June,” Rajagopal Menon, Vice President, told Gadgets360 by WazirX.

Ether has seen a greater loss than Bitcoin on the price chart. On Wednesday, Ether posted a loss of 3.28 per cent to trade at a price of $3,190 (around Rs. 2.65 lakh) in India. On Binance, Ether is trading at $3,514 (around Rs. 2.92 lakh).

“Ethereum supporters continue to struggle in their faith in an ETF amid a lack of updates from the SEC. Despite trying to clear the $3,650 level (around Rs. 3.03 lakh), ETH encountered a fade. To regain bullish momentum, ETH needs to break above this level and hold there,” the CoinDCX team told Gadgets360.

Bind, Binance coin, Solana, Dogemoneta, Cardano, Avalanche, Shiba InuAND Polka dot – everyone followed BTC and ETH in the wake of losses.

Tron, Chain shirt, Polygon, Litecoin, Uniswap, Leo, CosmosAND Stellar it also reflects Wednesday’s losses.

“The biggest losers among the major cryptocurrencies remained memecoins, as WIF (-18%), PEPE (-12%) and DOGE (-7.4%) continued to struggle as markets collapsed. With the Solana network congested for almost a week now, the price action has started to reflect this as well, with Solana prices trading below $170 (around Rs. 12,145),” CoinSwitch Markets told Gadgets360 Desk.

Only a small number of altcoins managed to see profits on Wednesday. These include Ripple, Wavy cash, Qtum, IotaAND Brain trust.

The overall cryptocurrency market has fallen by 3.22% in the last 24 hours. The current valuation of the industry stands at $2.59 trillion (around Rs. 2,15,55,443 crore), according to CoinMarketCap.

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