Cryptocurrency prices fell today Bitcoin It was a volatile week for the digital coin to trade below the $44,000 level. The world’s largest and most popular cryptocurrency was down nearly 3% at $43,144. Bitcoin is down about 6% so far in 2022 (Year-to-Date or YTD).
Bitcoin is down nearly 35% since it peaked around $69,000 in November last year as the Federal Reserve and other global central banks began tightening financial conditions and draining pandemic-era liquidity from the system Was.
On the other hand, Ether, the coin tied to the Ethereum blockchain and the second largest cryptocurrency by market capitalization, also fell more than 5% to $3,064. Similarly, Binance Coin fell almost 2% to $413.
Dogecoin price was trading lower by 6% at $0.15, while Shiba Inu was trading more than 8% at $0.00030. Stellar, Avalanche, Cardano, Polygon, XRP, Polkadot, Solana, Terra, Stellar among other coins performed mixed with price cuts in the last 24 hours.
Meanwhile, according to CoinGecko, the global cryptocurrency market capitalization remains above $2 trillion today, even though it was down 3% at $2.06 trillion, dragged down by the collapse in crypto prices today.
According to a report by digital asset manager CoinShares, the crypto market last week marked the third week of a total inflow of $133 million. Bitcoin led all inflows with $71 million, the largest and third straight week of inflows since the beginning of December, with a total of $108 million. Ether posted a net outflow of $8.5 million in the week ended February 4, taking its 9th straight week of outflows to a total of $280 million.
(with inputs from agencies)
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