The global crypto market’s value today slipped more than 1% in the past 24 hours to $1.81 trillion, according to pricing from CoinGecko.
It’s largely traded in a range of $35,000 to $45,000 this year as the Federal Reserve started hiking interest rates amid stubbornly high inflation.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also plunged more than 1% to $2,797.
As the upward momentum weakens over the past few days, we may likely see BTC breaking down as it is currently trading close to the support level,” said Edul Patel, Co-Founder & CEO, Mudrex.