Cryptocurrency Price Today: Losses Hit Bitcoin, Ether and Most Altcoins

Throughout the week, Bitcoin and Ether continued to trade at a loss. Bitcoin recorded a loss of 3.77% on Gadgets 360’s on Friday January 19th Crypto price tracker. Its value, at the time of writing this article, stood at $41,005 (approximately Rs. 34.09 lakh). This is the lowest value of Bitcoin in recent weeks. In the last 24 hours, the value of Bitcoin has decreased by $1,540 (around Rs. 1.28 lakh). Market analysts have also acknowledged that the cryptocurrency market is witnessing an unexpected downtrend.

“Bitcoin is facing selling pressure due to strong outflows from Exchange Traded Products (ETPs) into new spot ETF issuers. For example, Blackrock’s Bitcoin ETF accumulated a billion dollars in Bitcoin in just one week, meaning there is a strong outflow of Bitcoin into such regulated ETFs. We can expect the price of Bitcoin to rise once this transition cools down and investors finish booking profits,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.

Ether on Friday it saw a decline in value of 2.95%. At the time of writing, Ether was trading at a price of $2,456 (around Rs. 2.04 lakh). In the last 24 hours, the value of ETH fell by $66 (around Rs. 5,487).

Solana, Ripple, Uniswap, BindAND Cardan – have all emerged on the losing side of the cryptocurrency chart.

Avalanche, Dogemoneta, TronAND Polka dot next to Currency in USD, Leo, Close to the protocolAND Iota also recorded losses.

“The top 30 cryptocurrencies by market capitalization are currently trading in the red. We can expect some volatility in the price of BTC for some time. However, ETF inflows and assets under management (AUM) continue to post good numbers. The newly launched BTC spot ETFs already have nearly $30 billion (around Rs 2,49,412 crore) in AUM compared to $11 billion (around Rs 91,451 crore) for silver ETFs,” he told Gadgets360 Parth Chaturvedi, Investments Lead, CoinSwitch Ventures.

The overall market capitalization of the cryptocurrency sector has fallen by 3.25% in the last 24 hours. As of Friday, the sector’s valuation stands at $1.62 trillion (around Rs. 1,34,68,056 crore), according to CoinMarketCap.

A small number of cryptocurrencies managed to post minuscule gains on Friday. These include — Iota, Brain trust, BinanceUSDAND Dogefi.

In a major DeFi development, CoinMarketCap data suggests that dYdX (-8.5%) recently overtook Uniswap Markets to become the largest DEX in terms of daily trading volume. The decentralized exchange recently migrated from Ethereum to Cosmos and recorded a volume of $757 million (around Rs 6,293 crore) in 24 hours.

Cryptocurrency is an unregulated digital currency, it is not legal tender and is subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any losses resulting from investments based on recommendations, forecasts or any other information contained in the article.

Affiliate links may be automatically generated – see our Ethics statement for details.

Fuente