The cryptocurrency market is showing constant volatility. In the last 24 hours, the price of bitcoin has fallen by more than 3 percent. On the other hand, Ethereum price is seeing a decline of more than 5 percent. On the other hand, the crypto market in India is trading with a fall in the market. In smaller currencies, Dogecoin is down 6 percent and Shiba Inu is down more than 8 percent. Meanwhile, according to CoinGecko, the global cryptocurrency market cap remains above $2 trillion today. Let us also tell you what kind of decline is being seen in the world’s cryptocurrency after all.
bitcoin price drop
The world’s largest cryptocurrency, bitcoin, is going through a period of great volatility. If we talk about today, then it has come down to $ 44. The world’s largest and most popular cryptocurrency is down nearly 3 percent to $43,144. Bitcoin is down about 6 percent in 2022 so far. While it has slipped about 35 percent from its all-time high $69 thousand. Indeed, the Federal Reserve and other global central banks have begun tightening financial conditions and draining pandemic-era liquidity from the system.
rest of the currency
On the other hand, Ethereum, the world’s second largest cryptocurrency, also fell more than 5 percent to $3,064. Similarly, Binance Coin fell almost 2 percent to $413. Dogecoin price is trading 6 per cent lower at $0.15, while the Shiba Inu was down more than 8 per cent to $0.00030. Stellar, Avalanche, Cardano, Polygon, XRP, Polkadot, Solana, Terra, Stellar among other coins performed mixed with price cuts in the last 24 hours.
bitcoin in recovery mode
According to a report by digital asset manager CoinShares, the crypto market saw a total inflow of $133 million last week. This is the third consecutive acceleration. $71 million came in inflow in bitcoin. Which is the biggest inflow since the beginning of December. Whereas in three weeks a total of 108 million dollars has come in inflow. Ether has seen an outflow of $8.5 million in the week ended February 4. While outflow of 280 million has been seen for the last 8 weeks.