Crypto Price Update: Bitcoin, Ether Continue to See Losses, Bear Market Situation Keeps Crypto Shaky

Bitcoin and Ether prices stand at $26,022 (roughly Rs. 21.6 lakh) and $1,630 (roughly Rs. 1.35 lakh) respectively.

Written by Radhika Parashar, Edited by Manas Mitul | Updated: 23 August 2023 11:45 IST

Crypto Price Update: Bitcoin, Ether Continue to See Losses, Bear Market Situation Keeps Crypto Shaky

Photo Credit: Pixabay/ Dean Crosby

The crypto market cap stands at $1.05 trillion as of August 21

Highlights

Solana, Polkadot saw losses
Litecoin also registered a price drop
Shiba Inu rose pricewise in the backdrop of Shibarium launch

Bitcoin on Wednesday reflected a loss of 0.14 percent to trade at its drastically reduced price point of $26,022 (roughly Rs. 21.6 lakh). Bitcoin, the most expensive cryptocurrency, has been trading close to the $26,000 (roughly Rs. 21 lakh) mark for days now. A plethora of macro-economic factors have pushed the prices of cryptocurrencies low, with investors not looking to engage with high-risk investments for the time being. With Bitcoin trading lowly, the prices of majority other cryptocurrencies are facing the impact.

Ether slipped by 1.99 percent, as shown by Gadgets 360's crypto price tracker on Wednesday. At the time of writing, ETH is trading at the price point of $1,630 (roughly Rs. 1.35 lakh).

Over the last 24 hours, Bitcoin and Ether both recorded small price drops. While BTC slipped by $13 (roughly Rs. 1,079), ETH tumbled by $33 (roughly Rs. 2,740).

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A bunch of altcoins tagged behind BTC and ETH on the loss-making side of the crypto chart.

These include Tether, Ripple, USD Coin, Cardano, Dogecoin, and Solana.

Other loss-stricken cryptocurrencies of the day include Polkadot, Polygon, Litecoin, Avalanche, Stellar, Chainlink, and Uniswap.

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The overall crypto market cap reduced by 0.49 percent in the last 24 hours, to hold on to the mark of $1.05 trillion (roughly Rs. 87,24,334 crore), as per CoinMarketCap.

The crypto fear and greed index has maintained its position in the fear zone without a shift in its score of 37/100 since yesterday.

“BTC dominance made a slight downtick and is currently lying around 49.27 percent. BNB, the fourth largest crypto by market capitalisation, dipped to its one-year low yesterday. The crypto market has observed more selling pressure in the last 24 hours,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360.

While mainstream cryptocurrencies are reeling under losses, game tokens Decentraland and Aave managed to see small gains on Wednesday.

Leo, Near Protocol, Zcash, and Dash also managed to mint minor profits.

Shiba Inu also spiked by 3.13 percent on Wednesday. SHIB developers are now certain that their new L2 blockchain, Shibarium, is set to handle the expected load.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Cryptocurrency, Bitcoin, Ether, Qutm, Wrapped Bitcoin, Zcash, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Bitcoin Cash, Flex, Cartesi, Braintrust, Kishu Inu, Circuits of Value

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More