Bitcoin had touched the $47,000 mark on Monday, but fell after initial hours as analysts predicted price correction after the world’s largest crypto coin gained over the last few days.
One unit of Bitcoin today was priced at $46,164.05 at the time of writing this article, data from CoinMarketCap showed.
“Bitcoin had edged over $48,000 during the past week before sliding to $46,000 as selling volumes proliferated and traders booked profits at the resistance level, which saw a minor correction in the prices.
This was up by 0.30 per cent in the last 24 hours, and by 5.48 per cent in the last seven days.
“Ethereum grew stronger against Bitcoin gaining almost 7 per cent in the past week as the Bitcoin dominance index fell below 42 per cent for the first time since the start of February 2022.