Other major cryptocurrencies on the other hand also showed a downward trend as investors continued to assess the rising inflation and looked at a possibility of economic recession amid the ongoing Russia-Ukraine war.
$38,936.59, as per data.
However, the outflow of BTC from exchanges kept on rising as institutional investors and whales continued to accumulate Bitcoin,” said the WazirX trade desk in a note to news18.com.
The next resistance is expected at $48,600 and an immediate support for BTC is expected at $37,600,” it added.
Ether price also fell today, with one unit of the second largest cryptocurrency of the world trading at $2,915.79 at the time of writing this article.
The next resistance for ETH is expected at $3,450 and next support is expected at $2,450,” said the WazirX trade desk.