Crypto Price Today: Bitcoin, Ether Fail to See Profits as Price Correction Period Prevails Over Most Assets

Having incurred a loss of 2.37 percent, the value of BTC has fallen to its current price point of $40,867 (roughly Rs. 34 lakh).

Written by Radhika Parashar, Edited by Siddharth Suvarna | Updated: 13 December 2023 11:59 IST

Crypto Price Today: Bitcoin, Ether Fail to See Profits as Price Correction Period Prevails Over Most Assets

Photo Credit: Reuters

The overall crypto market cap, as of December 13, stands at $1.53 trillion

Highlights

USD Coin, Cardano recorded gains
Tether, Ripple saw losses
Elrond, Binance USD also managed to mint profits

Bitcoin on Wednesday, October 13 continued to remain on the loss-making side of the crypto chart for the third consecutive day. Having incurred a loss of 2.37 percent, the value of BTC has fallen to its current price point of $40,867 (roughly Rs. 34 lakh). The crypto asset saw a price drop of $964 (roughly Rs. 80,401) over the last day. Last week, Bitcoin was trading at $44,000 (roughly Rs. 36.6 lakh). As per market analysts, most crypto assets including Bitcoin are currently undergoing a period of price correction.

“Bitcoin trades at the $40,000 (roughly Rs. 33.3 lakh) level after experiencing liquidations ahead of the US interest rate decision scheduled for today. Despite being in the red, BTC has seen an eight percent month-to-date increase and an impressive 148 percent surge year-to-date. The recent low near $40,600 (roughly Rs. 33.8 lakh) has prompted a consolidation of losses. BTC faces resistance at $41,450 (roughly Rs. 34.5 lakh) and finds support at $39,500 (roughly Rs. 32.9 lakh),” Edul Patel,Co-Founder and CEO, Mudrex told Gadgets360 commenting on the market situation.

Ether recorded a price dip of 3.17 percent to trade in losses alongside Bitcoin on Tuesday. At the time of writing, the value of Ether stands at $2,166 (roughly Rs. 1.80 lakh). In the last 24 hours, the value of ETH dropped by $63 (roughly Rs. 5,255).

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More cryptocurrencies registered losses than profits today. These include Tether, Binance Coin, Ripple, and Solana. Avalanche, and Chainlink also saw losses.

Other loss-laced cryptocurrencies today include Polygon, Polkadot, Shiba Inu, Leo, Stellar, and Monero.

The overall crypto market cap also slipped down the price ladder for the third consecutive day today. Its current valuation stands at $1.53 trillion (roughly Rs. 127,56,933 crore), after seeing dip of 2.44 percent, showed CoinMarketCap.

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“Crypto market observers are closely monitoring SEC decisions, significant holders' behaviour, and key support and resistance levels shaping the broader crypto market,” Rajagopal Menon, Vice President, WazirX told Gadgets360.

Meanwhile, only a few cryptocurrencies managed to see small gains today. These include USD Coin, Cardano, Cosmos, Elrond, and Binance USD.

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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