Cryptocurrency Prices Updates: Today's Bitcoin price, the biggest and most well-known cryptocurrency in the world, was trading approximately 0.6per cent down at USD19,188. According to CoinGecko, the global market capitalization of cryptocurrencies today stayed below the USD1 trillion threshold after falling by about 1per cent over the previous day to USD966 billion.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, dropped more than 1per cent to USD1,292. Shiba Inu's price today decreased marginally to USD0.000011 while Dogecoin's price declined more than 2per cent to USD0.05.
"Bitcoin continued the modest increases from the previous month over the weekend, trading above the USD19,000 mark. Due to a lack of buying activity above USD20,000, BTC failed to hold above that level last week. The next barrier would be USD20,000 if BTC can rise beyond the USD19,500 mark. However, if it falls below the level it is at now, BTC may return to the USD18,500 level. As investors continue to process the recent hawkish remarks made by the U.S. central bank in a speech on Friday, the second-largest cryptocurrency, Ethereum, was trading between the USD1,200 level, according to Edul Patel, CEO and Co-Founder of Mudrex, a worldwide cryptocurrency investing platform.
Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, XRP, Stellar, Terra and Terra Luna Classic values were trading with cuts during the previous 24 hours, whilst Tron, Polygon, gained slightly. Other cryptocurrency prices' behaviour today was varied.
As central banks throughout the world raised interest rates to tame growing inflation, the value of the global markets fell over the past few months. As fears of a recession increase, risky assets like cryptocurrency have been particularly severely hit.
According to data gathered by Bloomberg Intelligence, investors withdrew USD17.6 million from cryptocurrency exchange-traded funds in the three months ended September 30. This amount, as of Friday morning, is far less than the second quarter's record withdrawal of USD683.4 million. The last two months saw the majority of the outflows.
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