Cryptocurrency Price Today: Bitcoin, Ether See Drops, Most Altcoins See Impact, Record Losses

On Tuesday, October 3, Bitcoin recorded a loss of 1.39% compared to its trading value. Despite this loss, Bitcoin recorded a price of $27,415 (around Rs. 22.8 lakh), which is relatively higher than the price range where BTC was trading throughout September. The most valuable cryptocurrency has seen a price increase of $498 (around Rs. 41,457) over the past three days, including the weekend. However, the current loss witnessed by BTC has shown its impact on other cryptocurrencies, including Ether.

Ether showed even greater losses than Bitcoin on Tuesday. At the time of writing, ETH was trading at $1,661 (around Rs. 1.38 lakh) after losing 3.23%. Over the past three days, ETH has not seen a notable change in its prices.

“Bitcoin momentarily breached the extremely important resistance of $28,500 (around Rs. 23.7 lakh), which is also the 50-day exponential moving average (50EMA), before the bears took over and BTC plummeted to around $27,500 (around Rs. 22.8 lakh). This volatility means the market has seen the highest volumes in over a month. Higher volumes will attract more traders to the market,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360. .

Conventionally, the market trajectories of BTC and ETH often imply the prices of other cryptocurrencies. Today, for example, a large group of cryptocurrencies are showing losses.

These include Binance coin, Ripple, Solana, Cardano, DogemonetaAND Shiba Inu – all showed declines in value.

These were further accompanied by Chain shirt, Avalanche, Stellar, Monero, CosmosAND Uniswap on the losing side of the cryptocurrency price chart.

“This price movement could be attributed to the sharp rise in the 10-year US Treasury yield by an additional 11 basis points to reach 4.69%. This caused a slight impact on earnings driven by positive indicators, such as the approval of Ether futures ETFs by the US SEC, however, it is worth noting that Bitcoin typically shows strength in October and has seen an increase of 68.21% over the year,” he told Gadgets 360 Edul Patel, co-founder and CEO of Mudrex.

The overall cryptocurrency sector valuation fell by 1.80% in the last 24 hours. As per CoinMarketCapthe current cryptocurrency market capitalization stands at $1.09 trillion (approximately Rs. 90,73,857 crore).

Meanwhile, small profits caused a handful of cryptocurrencies to trade in the green today.

These include Bind, Currency in USD, Bitcoin Cash, Leo, Bitcoin SVAND Cartesi.

Meanwhile, yesterday, in an interesting development, a Twitter account called @satoshi became active after five years and claimed that Bitcoin is a preaching machine with several aspects yet to be explored.

The person who apparently controls this account is Craig Wright, who has been unable to prove in a court of law that he is the real Satoshi.

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