BTC Remains Above $17,000 Despite Small Dip, Small Losses Hit Most Altcoins
A day after Bitcoin and most other cryptocurrencies posted gains, the crypto price charts showed small losses alongside altcoins on Tuesday, January 10. Bitcoin opened with a small dip of 0.44 percent in value to trade at the price of $17,190 (approximately Rs. 14 lakh). Bitcoin maintained similar values on international exchanges such as Binance and CoinMarketCap. Today marks the second consecutive day that Bitcoin has managed to maintain its value above its $17,000 (approximately Rs. 13.9 lakh) resistance level.
Ether has grown in value by 0.60 percent today, not quite in line with Bitcoin’s movement for a change. The current price of ETH stands at $1,321 (approximately Rs. 1.08 lakh), Gadgets 360’s crypto price tracker showed. In the past 24 hours, Ether has increased in price by $16 (approximately Rs. 1,314).
Losses hit stablecoins that gained a day ago. These include Tether, USD Coin, and Ripple.
Cardano, which was up 19 percent and Solana, which was up 20 percent a day ago, both opened with a loss today.
While Cardano’s value fell 5.64 percent, Solana’s value fell 1.48 percent.
Polygon, Litecoin, Polkadot, Tron and Avalanche – they all witnessed losses.
They were joined by both popular meme coins, Shiba Inu and Dogecoin – both of which tumbled down the price ladder.
Relatively less high-profile cryptocurrencies such as Leo, Bitcoin SV, Elrond, Zcash, and Dash also settled with losses.
The overall valuation of the crypto market fell by 0.10 percent. From CoinMarketCapits market capitalization stood at $849.19 billion (approximately Rs. 69,95,173 crore) at the time of writing.
A few cryptocurrencies followed Ether and opened with a profit today.
These include Binance USD, Uniswap, Bitcoin Cash, Iota, NEM, and Qtum.
Baby Doge Coin, Cartesi, Spell Token and Augur also brought in small and significant profits.
The crypto sector is still struggling to overcome the ongoing market slump.
Amid the industrial slowdown, the number of Bitcoin ATMs dropped significantly between July 2022 and January 2023. In the past six months, only 94 Bitcoin ATMs have been installed in different parts of the world.
According to CoinATMRadar, before the crypto market collapsed last year, 4,169 BTC ATMs were installed in the first six months of 2022.
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