The global crypto market’s value today fell over a per cent in the past 24 hours to $1.99 trillion, according to pricing from CoinGecko.
The drop in the BTC price could, most likely, be due to traders booking profits The 2-hourly trend for BTC can be seen breaking below the ascending triangle pattern.
On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency also tanked more than 2% to $3,018.
“Bitcoin traded at its high before falling to US$40,000 after the Federal Reserve’s comments on raising the benchmark U.S interest rate on Thursday.