Crypto Price Today Live: Bitcoin Falls Below $20,000; Landslide and polygon drop up to 10%
Bitcoin fell below $20,000 on Sunday as part of a broader retreat in the cryptocurrency market amid concerns about the Federal Reserve’s rate hike path, Reuters reported.
Apart from BNB, all other top tokens traded in the red on Monday. Avalanche plunged as much as 10 percent, while Polygon fell 5 percent. XRP and Cardano each fell 4 percent.
The global cryptocurrency market cap was trading lower at $951.77 billion, falling as much as 2 percent in the past 24 hours. However, total trading volume fell around 17 percent near $54.09 billion.
What is cooking in India
Indian crypto exchange CoinSwitch Kuber’s CEO Ashish Singhal said “we are cooperating fully” with the Enforcement Directorate, two days after five locations were searched by the financial crime agency. Disclosing the news of the searches on Thursday, the Bangalore cell of India’s Enforcement Directorate said “searches were conducted as we did not receive the desired cooperation from CoinSwitch Kuber”.
Expert take
Unocoin co-founder Sathvik Vishwanath said the weekend created a bloodbath, similar to last weekend, pushing prices down as much as 10-12 percent on various top cryptocurrencies.
“This weekend’s action was due to the Fed’s chair disclosure and rising interest rates which have become detrimental to the crypto market,” he added.
Global updates
A pioneering software entrepreneur believes his nearly five-year-old blockchain company has found a way to open up the $1.2 trillion diamond market to a wider group of investors.
Grayscale Investments LLC has fielded questions from the US Securities and Exchange Commission regarding the firm’s “securities law analysis” of tokens in some of its less popular crypto trusts.
When members of the ENS DAO community go to their eth.link website, they will now only see a blank page with a green domain expiration warning banner at the top.
Ethereum’s upcoming merger could have a significant impact on the way DeFi protocols work on top of crypto’s most popular decentralized finance chain, according to a new DappRadar report published Friday.
Tech View by Proassetz Exchange
After trading within a flag pattern for 2 months, BTC has given a breakdown below it, after which it has faced a 7 percent drop. The next support level is $17600.
Agencies
