Bitcoin Below Key $20,500 Level; Solana, Ether Log Small gains
Cryptocurrency price today: The top 10 crypto coins on Thursday, September 15 delivered a mixed bag of red and green over the past 24 hours. On the other hand, the global cryptocurrency market rose 0.25 percent in an attempt to move back to $1 trillion again, which it lost yesterday amid shocking inflation data. The cryptocurrency market stood at $998.15 billion at the time of writing, data showed.
“The current pressure on the crypto market is a result of a broader sell-off in the traditional markets as investors move away from high-risk assets to protect their wealth from economic shocks. The skyrocketing costs of food and energy along with geopolitical uncertainty will keep investors on toe raised in the coming weeks.” said Tarusha Mittal, COO and co-founder of UniFarm.
Bitcoin could not recover on the day as it continued to trade below the $20,500 mark, a crucial point for the world’s largest cryptocurrency. Bitcoin price today was $20,172.85, down 0.37 percent in the last 24 hours, according to data from CoinMarketCap.
“Bitcoin continues to trade below the US$20,500 level for a second day in a row due to low buying volume confirming seller pressure. If buyers can move BTC above the US$20,575 level, we could see a potential upside move,” says Edul Patel , CEO and co-founder of Mudrex.
“The world’s oldest cryptocurrency, Bitcoin, lost a key support level at $21,000 after the latest CPI data showed red-hot inflation figures. Bitcoin and Ether lost about 8 percent and 6 percent of their value, resulting in the total crypto market cap falling below $1 trillion, Mittal added.
As noted by Mittal, Ether also faced losses before the merger amid rising inflation, but recovered in the last 24 hours. The Ethereum price today at the time of writing this article was $1,623.17, up 1.58 percent in a day.
“The second largest cryptocurrency, Ethereum, had gained almost 2 percent in the last 24 hours before the merger. The volatility in the crypto market may be due to Ethereum’s transaction to PoS. As the merger passes, BTC and ETH appear to be preparing for a key price move,” noted Patel.
Here are the top 10 cryptocurrencies and their prices as of September 15, Thursday (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $20,172.85 or 0.37 percent loss in last 24 hours
Ethereum $1,623.17 or 1.58 percent gain in the last 24 hours
Tether $1.00 or 0.02 percent gain in last 24 hours
USD Coin $1.00 or 0.01 percent loss in last 24 hours
BNB $275.40 or 1.19 percent loss in last 24 hours
Binance USD $0.9994 or 0.09 percent loss in last 24 hours
XRP $0.3403 or 1.21 percent gain in last 24 hours
Cardano $0.4746 or 0.80 percent gain in last 24 hours
Solana $34.59 or 4.26 percent gain in the last 24 hours
Dogecoin $0.06055 or 0.54 percent gain in last 24 hours
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