A Significant decline in Bitcoin

Today, Bitcoin entered the trading arena at a price of $60,192 after recording a loss of 2%. On international exchanges such as Binance, Bitcoin is trading at an almost similar price of $63,102, according to market analysts. Bitcoin’s short-term indicators are leaning towards a bearish outlook, according to the website gadgets360.

These include Tether, Binance Coin, Solana, Ripple, and Dogecoin.

Minor but notable price cuts were also recorded by Cardano, Shiba Inu, Avalanche, Polkadot, and Chainlink along with Polygon, Near Protocol, and Leo.

“After Bitcoin halving, crypto assets are witnessing increased volatility, with tokens maintaining neutral sentiment,” said Rajagopal Menon, Vice President of WazirX Exchange. Broad, “The price decline may also be affected by the decline of the Japanese yen against the US dollar.”

The total market capitalization of cryptocurrencies has fallen by 0.73% over the past 24 hours, and the sector’s valuation, at the time of writing, stands at $2.35 trillion, according to CoinMarketCap.

By following a different price path than Bitcoin, the second largest cryptocurrency by value, Ether, was able to make small gains on Monday. ETH is currently worth $3,130, after recording a 2.35% gain. On international exchanges, the price is $3,130. ETH $3,218 - CoinMarketCap showed.

“Macro events this week, such as the Fed interest rate and unemployment rate announcements, could lead to additional market volatility,” the CoinDCX research team said.

Fintech giant Stripe has announced the reintroduction of cryptocurrency payments later in 2024. The company will enable payments for the USDC stablecoin only on the Solana, Ethereum, and Polygon blockchains. Meanwhile, in the US, Consensys, its parent company, has introduced... Metamask has filed a complaint against the Securities and Exchange Commission regarding an “unlawful seizure of power” over the Ethereum owned by the company.