Cryptocurrency prices today: Bitcoin slides below $50,000 after fresh slump, Ether down over 5% - Business News

Cryptocurrency prices fell sharply over the past 24 hours due to profit booking. (Photo: Reuters)

Cryptocurrency prices plunged over the past 24 hours due to a jump in profit booking activity. Aggressive selling is a possibility over the next 24 hours as the overall crypto market remains volatile.

Bitcoin, the world’s most popular cryptocurrency, fell below $50,000 to touch a fresh 3-day low. It was trading at $48,200 or 2.73 per cent lower than its price 24 hours ago at 12:10 pm. The market capitalisation of the popular crypto stood at $910 billion and the 24-hour trade volume was $1.25 billion.

Ether, the native token on the Ethereum platform, also fell sharply as it traded at $4,115 or nearly 6 per cent lower than its price 24 hours ago. Ether’s market capitalisation was down to $483 billion and the 24-hour trade volume was $1.34 billion.

Smaller cryptocurrencies, including Solana, XRP, Terra, Cardano, Polkadot, Stellar, Dogecoin, Polygon, Chanlink, Uniswap and Litecoin fell sharply due to an increase in profit booking activity.

Commenting on the aggressive selling in the crypto market, Edul Patel, CEO and Co-founder, Mudrex- A Global Algorithm Based Crypto Investment Platform, said there are chances that the crypto market will remain shaky over the next 24 hours. He also warned investors to remain cautious.

“We saw a profit booking across the cryptocurrency spectrum over the past 24 hours. Investors should watch out before taking aggressive trades as the markets are a bit shaky at the moment,” he said.

“The crucial support levels for BTC and ETH are $46,000 and $4,000 respectively”.

Here are the latest prices and trends of popular cryptocurrencies:

$$178.31 million

DISCLAIMER: The cryptocurrency prices have been updated as of 12:30 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.

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