Bitcoin price continued to slide today with the world’s largest and most popular digital token trading one percent lower at $16,647. According to data from CoinGecko, the global cryptocurrency market cap remained below the $1 trillion mark today as it fell to $839 billion over the past 24 hours.
On the other hand, Ether, the coin associated with the Ethereum blockchain and the second largest cryptocurrency, was down nearly 2% at $1,197. Meanwhile, the price of Dogecoin was trading down 4% today at $0.07, while Shiba Inu was down 2% at $0.000008.
“Most cryptocurrencies are experiencing a decline due to the holiday season. Currently, bitcoin is trading below the $16,700 level. Since December 20, bitcoin attempted to break above its resistance at $16,940, But so far it has been unsuccessful. If bitcoin can break through this resistance, its next target would be the $17,400 level. However, if it decisively breaks below the $16,500 support line, it would signal a downtrend. On the other hand, Ethereum has managed to hold levels above $1,200. If it breaks below this level, the next support will be around $1,150,” said Edul Patel, CEO and co-founder of Mudrex.
Other crypto price performance also declined today as Tether, Polygon, Stellar, XRP, Cardano, Litecoin, Polkadot, Chainlink, Uniswap, Solana, Apcoin, Avalanche, Tron were trading with losses in the last 24-hours.
This year was dubbed as the winter season in terms of cryptocurrencies, as the high-profile collapses of Terra/Luna and FTX shocked the entire industry and wiped out over $2 trillion from the total crypto market cap since November 2021. Did.
Federal prosecutors are probing an alleged cybercrime that led to the withdrawal of more than $370 million from FTX just hours after the cryptocurrency exchange filed for bankruptcy last month, Bloomberg reports.
The report says the Justice Department has opened a criminal investigation into stolen assets that is separate from a fraud case against FTX co-founder Sam Bankman-Fried.
(with inputs from agencies)
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