Cryptocurrency Prices Today: Bitcoin Below $34,000; Ether, Dogecoin Also Fall

Bitcoin, the world’s most popular cryptocurrency fell over 4 per cent and was trading at $33,128 at around 12:15 pm. Its closest competitor Ether was down over 7 per cent in what seems to be a result of higher outflows.

All other cryptocurrencies were trading lower including Dogecoin, Cardano, XRP, Stellar, Uniswap, Chainlink, Polkadot and Litecoin.

Commenting on the brood-based fall, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto trading platform, said, “After the wonderful rally observed across the crypto spectrum in the past few days, we are curiously witnessing a profit booking session. Most of the major cryptos are down by around 5%.”

“Bitcoin investors are getting anxious as it is currently trading just above the $33,000 mark. Short sellers would be watching this closely as well. A drop below this level would likely see a huge number of short positions opening,” he added.

Patel went on to say that profit booking had a larger impact on some major altcoins. “Ether is down by approximately 6 per cent and Ethereum Classic tanked more than 7 per cent. The meme coins, Dogecoin and Shiba Inu, have taken quite a toll. Both these cryptos are down by approximately 8 per cent,” Patel said.

“Currently, Bitcoin and Ether are close to support levels and these levels would be closely tracked. In case these support levels are broken, we might see a further sell-off across the spectrum,” he said.

Here are the latest prices and trends of popular cryptocurrencies:

CryptocurrencyPrice (US Dollar)24-hour changeMarket cap (Billion)Volume (24 Hours)
Bitcoin33,129.88-4.65%$621.17$23.57 billion
Ether2,214.48-7.10%$258.21$22.01 billion
Dogecoin0.217647-7.23%$28.34$1.49 billion
XRP0.632249-5.61%$63.22$2.01 million
Cardano1.37-4.21%$44.11$2.04 million

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