Bitcoin's price plummeted on Wednesday, falling below $46,000. According to statistics, Bitcoin fell 3% following a statement by US Federal Reserve Governor Lael Brainard.
As the entire crypto market volume fell, most cryptocurrencies, including Ethereum, were in the negative.
The second-largest crypto, Ethereum, slumped 4.40 percent to $3,369.
Several cryptocurrencies like XRP were down 1.76 percent, Solana was dropped 5%, Cardano was dropped over 4%, Avalanche was dropped over 6%, Polkadot was dropped over 5%, and Stellar was dropped by more than 4%.
Among significant cryptocurrencies, Dogecoin increased by more than 6%, while Shiba Inu decreased by 1.89%.
BTC, ETH, and other major cryptocurrencies declined on Tuesday as a result of the US Federal Reserve Governor's aggressive statements. BTC and ETH have dropped by approximately 3% and 5%, respectively. Over the last several days, BTC has struggled to break through its barrier, suggesting the conclusion of the steady decline. Edul Patel, CEO, and Co-founder of Mudrex, stated.
"Bitcoin's existing support price is $43,000, which can keep traders interested in the sector. On the other hand, Dogecoin has gained at least 7% in the last day following Elon Musk's appointment to the Twitter Board of Directors "Patel stated.
Mobile app Rating
Share