Why are crypto prices falling today?

Why are crypto prices falling today?

Crypto prices are falling again today; why? The crypto market now stands at $1.26 trillion a day after the crypto prices were showing minor signs of recovery. The crypto market cap has been hovering between $1.24 trillion – $1.31 trillion. It was having difficulty passing this range when it experienced a jump to $1.31 trillion on Monday, which is a 3.66% rise. According to CoinMarketCap, the Monday highs did not last long.

Over the past twenty-four hours, the global market volume rose 37.22% to $84 billion. The overall volume in Defi was $9.62 billion. That is 11.46% of the total crypto volume. The 24-hour volume of stable coins was $73.70 billion, accounting for 87.74 percent of the overall crypto market volume.

Bitcoin has fallen again to below $30,000, and over the past twenty-four hours, it has fallen by three percent. Bitcoin’s dominance as the most popular and valuable crypto asset fell by 0.36 percent to 44.22 percent. The price of Bitcoin has plummeted by 2.44 percent in a week. Bitcoin was worth $29,227 at the time of writing.

Shivam Thakral, CEO of BuyUcoin, said, “The crypto market struggled to stay in the green as sellers dominated the market to open the week. Tether has paid $10 billion in withdrawal since the crypto market which indicates large-scale liquidations across the crypto market by the investors to recalibrate their portfolio.” He went on, “The crypto market is expected to stay in a bear phase for some time, and most the investors will stay in a wait and watch mode.”

Crypto Prices Falling

Ethereum, the second crypto in market cap, has been falling today. Its value has decreased by 2.17% and is now below $2000 at approximately $1985.

Binance Chains coin price, the fourth biggest crypto, has increased almost 2% to $325. The XRP coin, on the other hand, has experienced a decrease of 2.33% to $0.4106 and is ranked the 6th biggest crypto. Solana’s price has fallen by 4.66% to $49.71. Cardano, the 8th biggest crypto, has decreased by 4.07% to $0.5171. The 10th crypto in market cap is Dogecoin, which dropped by 1.9% to $0.08397. Polkadot and Avalanche, the 11th and 13th crypto assets, have decreased by 0.34% and 5.93%.

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Why are crypto prices falling today?
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