New Delhi: The global cryptocurrency market was trading in the red on Tuesday, as the global cryptocurrency market traded in the red, data from CoinDesk showed.
Concerns about inflation and bearishness continued on bitcoin, ethereum and other major cryptocurrencies.
Bitcoin was trading at $39,961, down 5.36 per cent. The price of Ethereum is down almost 5% to $3,000.
XRP, Terra, Solana, Cardano, Avalanche and Polkadot all lost over 5%.
Other popular alternative coins, such as Dogecoin and Shiba Inu, have lost about 6% of their value.
Bitcoin, the most valuable cryptocurrency by market cap, could drop to $30,000 by June, according to Arthur Hayes, co-founder of crypto trading platform BitMEX. He also said in a blog post that the same mechanism could run Ether for up to $2,500. “The Nasdaq 100 is significantly associated with bitcoin and ether. If the NDX falls, the crypto market will fall with it,” he said.
Concerns about tighter monetary policy have driven down cryptocurrency prices. Even the excitement generated by last week’s Bitcoin 2022 conference in Miami failed to stop the downward trend.
Bitcoin’s tendency to go into lockstep with assets like US tech stocks makes the decrease less surprising after a rough week for the stock market in the United States. Its correlation with the Nasdaq 100 index has re-established new highs.
live TV
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$(window).scroll(function(){
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var currentScroll = $(this).scrollTop();
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$('html head').find('title').text($(this).children().find('.left-block').attr('data-title'));
$('meta[name=description]').attr("content",$(this).children().find('.left-block').attr('data-summary'));
$('meta[name=keywords]').attr("content",$(this).children().find('.left-block').attr('data-keyword'));
$('meta[name=news_keywords]').attr("content",$(this).children().find('.left-block').attr('data-keyword'));
pSUPERFLY.virtualPage(prevLoc,$(this).children().find('.left-block').attr('data-title'));
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//console.log("Keyword: " + $(this).children().find('.left-block').attr('data-keyword'));
//history.pushState('' ,'', prevLoc);
loadshare(prevLoc);
}
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}
});
if(lastHeight + last.height() < $(document).scrollTop() + $(window).height()){
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url = $(next_selector).attr('href');
x=$(next_selector).attr('id');
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/*setTimeout(function(){
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//loadDisqus(jQuery(this), disqus_identifier, disqus_url);
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var st = 0;
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