Current Cryptocurrency Prices: Bitcoin and Ether Maintain Stability, While Many Other Cryptocurrencies Experience Declines

Shaik Naziya

Editor

posted on 2 years ago — updated on 2 years ago

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Following the approval of the ETF, Bitcoin's price has generally shown stability. However, there was a recent decline in the past 24 hours, indicating an ongoing adjustment period for the market to adapt to funds associated with Bitcoin.

The majority of alternative cryptocurrencies are showing losses on Thursday, as indicated on Gadgets360's crypto price chart. Among them are Tether, Solana, Ripple, Uniswap, Monero, and Chainlink.

Additionally, Cardano, Avalanche, Dogecoin, Tron, and Polkadot are among the other alternative coins that experienced declines in their prices on Thursday.

The total market valuation decreased by 0.79 percent over the past 24 hours, currently resting at $1.68 trillion (approximately Rs. 1,39,70,787 crore) according to CoinMarketCap.

US inflation data is receding, and labor market indicators are aligning to potentially prompt the Fed to initiate interest rate cuts soon. This development has instilled optimism among market analysts, for seeing a positive trajectory for the cryptocurrency sector in the months post the anticipated rate cut, expected around March. Rajagopal Menon, Vice President at WazirX, shared insights with Gadgets360, highlighting that the expected rate cut could substantially alleviate liquidity issues in the market.