According to CoinGecko, bitcoin price fell on Saturday as the world’s largest cryptocurrency was trading at $47,164.46, down 16.6% over the past 24 hours. Bitcoin plunged in the early hours of Saturday, dropping nearly $10,000 in an hour to a temporary low of $42,000 to jump to $47,000. According to data from Coingglass.com, nearly $2.4 billion in long and short cryptocurrency exposure ended on Saturday, the highest since September 7. Bitcoin It has lost nearly $21,000 since hitting a record $69,000 on November 10th.
In addition, Ether is linked to the coin. ethereum The blockchain and second-largest cryptocurrency fell 15.9% on Saturday to $3,848.23.
The global cryptocurrency market capitalization today stands at $2.3 trillion, a change of -16.4% over the past 24 hours. The total cryptocurrency trading volume on the last day stood at $201 billion. The dominance of Bitcoin is 38.8% and that of Ethereum is 19.9%.
Dogecoin was also red on Saturday. The cryptocurrency fell 22.2% today to $0.163772. And, the Shiba Inu fell 13.2% to $0.00003604 in the same period. performance of others cryptocurrency Litecoin, XRP, Polkadot, Uniswap, Stellar were also trading with losses in the last 24 hours.
The volatility in cryptocurrency comes amid a volatile period for the financial markets. Rising inflation is forcing central banks to tighten monetary policy, threatening to ease the liquidity tailwind that has lifted a wide range of assets. The Omicron version of the coronavirus has caused risk over concerns about what this could mean for the global economic reopening.
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