Cryptocurrency price today: Bitcoin and Ether post losses along with most altcoins, only a few cryptocurrencies see gains

Bitcoin recorded a loss of 1.13% on Friday, February 23, trading at a price of $51,017 (around Rs. 42.2 lakh). This is the second day in a row this week Bitcoin recorded a loss. It is, however, impressive that the asset managed to maintain the $51,000 mark (around Rs. 42 lakh) despite the losses it incurred. In the last 24 hours, the value of BTC has fallen by $375 (around Rs 31,080). Market analysts believe that this is a price correction phase for Bitcoin and subsequently also for most other cryptocurrencies.

Ether on Friday it recorded a decline of 1.54%. With this, its trading value has reached $2,799 (approximately Rs. 2.3 lakh). In the last day, the value of ETH fell by $42 (around Rs. 3,480).

“Over the past 24 hours, the cryptocurrency market showed slightly bearish sentiment with the first net outflow from the BTC ETF since January 25, 2024, signaling a bearish trend. Furthermore, funding rates were not in favor of the bulls. Technically, BTC closed in the red but remained within its range. Meanwhile, ETH remained relatively stable,” the CoinDCX team told Gadgets360.

Most popular cryptocurrencies are trading at losses as of Friday.

These include Bind, Solana, Ripple, Currency in USD, Cardan, AvalancheAND Tron.

Chain shirt, Polka dot, Bitcoin Cash, Litecoin, UniswapAND Cosmos they too are suffering losses as of Friday.

Overall cryptocurrency market valuation stands at $1.95 trillion after declining 0.25% in the past 24 hours, shows CoinMarketCap.

Meanwhile, only a few altcoins managed to see gains on Friday. These include Binance coin, Polygon, Shiba Inu, StellarAND Chrono.

“As for altcoins, the price of BNB (+1.1%) rose to the highest level since the collapse of FTX. This could be attributed to easing concerns regarding regulatory issues surrounding Binance and a Web3 gaming project’s upcoming airdrop farming campaign for BNB holders. Additionally, AI tokens continued to rise on the back of Nvidia’s fourth-quarter earnings; RNDR grew 9.3% while WLD (+13.9%) reached its all-time high,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, told Gadgets360.

In other news, Reddit revealed its investments in Bitcoin and Ethereum ahead of its IPO. The company also acquired Ether and Polygon for the sale of specific virtual goods. The company filed on the New York Stock Exchange under the symbol “RDDT.”

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