Bitcoin price rose on Tuesday
Cryptocurrency prices today, April 22: The global cryptocurrency market fell 2.28% in the last 24 hours to $1.88 trillion.
Cryptocurrency Updates: On Friday, April 22, the global cryptocurrency market recorded a slight decline amid hawkish remarks from Federal Reserve Chairman Jerome Powell and the U.S. central bank's commitment to aggressive inflation measures. This has caused the value of all major cryptocurrencies to fall, with the top 10 tokens trading in the red at the time of writing this article. The global cryptocurrency market fell 2.28% in the last 24 hours to $1.88 trillion, according to data from CoinMarketCap.
“Fed Governor Jerome Powell’s hawkish comments are weighing on the cryptocurrency market. The U.S. central bank is expected to be aggressive in its efforts to combat rising inflation numbers. High borrowing costs and the risk of a potential recession have made safe havens attractive, forcing investors to stay away from risky assets,” said Kunal Jagdale, founder of BitsAir Exchange.
According to data, Bitcoin remained around $40,000 on this day, but fell more than 2%. As of this writing, Bitcoin is trading at $40,679.75, down 2.36% in the last 24 hours. However, over the past 7 days, Bitcoin price has increased by 1.39%.
“Bitcoin has corrected slightly to fall near $40,000 over the past few hours as the overall weakening of the cryptocurrency market has resulted in significant selling on exchanges. The BTC price drop is probably due to traders booking profits as Bitcoin rose above $42,000 early yesterday. We can see that BTC's 2-hour trend is breaking below an ascending triangle pattern. Immediate support for BTC is expected at $37,600,” WazirX trading desk said in a note to news18.com.
According to data, the price of Ethereum has fallen 2.40% over the past 24 hours, hitting $3,018.45 at the time of writing.
“We have seen rapid outflows of Bitcoin and ETH from exchanges, indicating that there are very few coins on exchanges for buyers. Bitcoin's 30-day exchange supply has been negative (outflows are greater than inflows) since March 11th, and ETH's has been since March 15th. This highlights the range-bound movement we are seeing as there is not much liquidity as prices move up and down. Convert momentum into price action,” said Darshan Bathija, CEO and co-founder of Vauld.
Here are the top 10 cryptocurrencies and their prices as of April 22, 2022 (data from coinmarketcap.com):
Bitcoin lost $40,679.75 or 2.36% in the last 24 hours.
Ethereum lost $3,018.45 or 2.40% in the last 24 hours.
Tether lost $1.00 or 0.01% in the last 24 hours.
BNB $411.21or loss of 2.78% in last 24 hours
USD Coin lost $1 or 0.01% in the last 24 hours
XRP $0.7354 or loss of 2.53% in last 24 hours
Solana lost $103.21 or 3.58% in the last 24 hours.
Terra $93.76 or a loss of 0.31% in the last 24 hours.
Cardano $0.9208 or a loss of 2.79% in the last 24 hours.
Avalanche $76.62 or a loss of 3.17% in the last 24 hours.
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