Bitcoin Remains Below $19,000 as Ether, Other Altcoins Continue Slide Over the Weekend

The global crypto market cap saw a drop of 1.51 percent in the last 24 hours

Written by Shomik Sen Bhattacharjee, Edited by David Delima | Updated: 26 September 2022 12:26 IST

Bitcoin Remains Below $19,000 as Ether, Other Altcoins Continue Slide Over the Weekend

Photo Credit: Unsplash/ Jeremy Bezanger

The Fed upped interest rates on Wednesday, causing markets to crash before recovering

Highlights

Bitcoin remained below the $19,000 mark over the weekend
Ether's price has continued to slip post the Merge
Most better-known altcoins dropped in value over the weekend

Bitcoin and the majority of popular altcoins spent most of the weekend in the red and continued to drop off through early Monday as crypto assets continue to feel the heat of the US Federal Reserve upping interest rates last Wednesday. As things stand, the value of Bitcoin sees a dip of 0.43 percent in the last 24 hours with its price now around the $18,800 (roughly Rs. 15.32 lakh) mark across global exchanges while Indian exchanges like CoinDCX value BTC at $20,043 (roughly Rs. 16.34 lakh), 0.03 percent lower than that on early Sunday.

On global exchanges like CoinMarketCap, Coinbase, and Binance the price of Bitcoin stands at $18,820 (roughly Rs. 15.34 lakh) while CoinGecko data shows that BTC's value now sits 3.4 percent lower than it was last Monday.

Ether, the largest smart contracts token, has also given up most of its gains during and after the much-publicised Merge. Ether is currently down by more than 1.62 percent over the past 24 hours, trading in the $1,290 (roughly Rs. 1.05 lakh) range across global exchanges. Meanwhile on Indian exchanges, ETH is valued at $1,374 (roughly Rs. 1.12 lakh) where values are down by 1.91 percent over the past day.

Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability

Gadgets 360's cryptocurrency price tracker reveals that most major altcoins also saw a similar slide over the weekend . The global crypto market capitalisation also witnessed a drop of 1.51 percent through late Wednesday and early Thursday.

Cardano, Avalanche, Uniswap, Cosmos, Solana, Polygon, TRON, Monero, Chainlink, and BNB all marked considerable dips over the last 24 hours.

Memecoins Shiba Inu and Dogecoin share a similar plight. Dogecoin is currently valued at $0.06 (roughly Rs. 4.96) after losing 2.91 percent in value over the last 24 hours, while, Shiba Inu is valued at $0.000011 (roughly Rs. 0.000889), down 4.31 percent over the past day.

OpenSea to Rank NFTs Basis Their Rarity Aiming to Assist Collectors

Bitcoin , the world's largest cryptocurrency, continues to face strong selling pressure amid uncertainties in the global markets. Over the last weekend, the BTC price has slipped under $19,000 (roughly Rs. 15.48 lakh) with analysts expecting further downside.

As per the on-chain data, the Bitcoin whale holdings continue to drop for 100 months in a row. As per on-chain data provider Santimenr, amid the fears of inflation and a global recession "addresses holding 100 to 10k $BTC have lowered their percentage of supply held of #crypto‘s top asset to 29-month lows."

With the next Apple event due very soon, we dive into all the leaks and rumours surrounding iPhone 14 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.