Cryptocurrency Update: The global cryptocurrency market fell again on Friday, February 11 amid volatility as all major crypto coins lost their value. cryptocurrency market According to data from global crypto tracking website CoinMarketCap, the cap stood at $1.98 trillion. It was down by 3.18 per cent in the last 24 hours. However, global crypto volumes have increased significantly over the past day. The total volume of coins traded during the previous day was $115.68 billion. According to website data, it has declined by 35.61 per cent in the last 24 hours.
“The US Consumer Price Index (CPI) slipped to 7.5 per cent last night, exceeding consensus estimates. Not surprisingly, the Federal Reserve reiterated its stance to ease quantitative easing and raise interest rates by a full percentage point by July. “This aggressive stance corrected riskier assets across the board, from equities to crypto, while the 10-year Treasury yield rose 2 percent for the first time since 2019,” the CoinDCX research team said in a note.
“As long as inflation remains high, any further upside for stocks and crypto could potentially be limited. That said, we remain cautious for a structural bull market to persist, especially for crypto, Given the huge amount of money in the sector, which continues despite the sluggish economic outlook,” added that day.
According to the data, there was a slight loss during the day, with the value of bitcoin trading below the $44,000 mark. According to CoinMarketCap, at the time of writing this article, the price of bitcoin was $43,488.94. It was down by 2.77 per cent in the last 24 hours. On the other hand, Ether price rose 4.42 percent during the past day and stood at $3,103.79 at the time of writing this article.
“Bitcoin has maintained its position near the $44,000 level with trading volume over the past few days. On the weekly chart, bitcoin can be seen bouncing off support levels and moving higher. The next resistance for BTC is at $50,700. and immediate support is expected at the $39,300 level,” WazirX Trade Desk said in a note to News18.
Top 6 Cryptocurrency Gainers in the Last 24 Hours (According to Data from CoinMarketCap)
Metapay: $0.00001313 – up to 709.78 percent
Doge Rise Up: $0.0000000005945 – up to 690.66 percent
Meta Uranus: $0.0006626 – up to 348.96 percent
Last Survivor: $0.03284 – up to 323.14 percent
Ninjafloki: $0.00007536 – up to 258.11 percent
Healthier: $0.0005098 – up to 244.50 percent
Top 6 Crypto Losers in the Last 24 Hours (According to CoinMarketCap Data)
WalMeta: $0.0001146 – 99.90 percent drop
Dogcolony: $0.0000001001 – 97.92 percent drop
Bored Floki Yacht Club: $0.000009444 – down 78.64 percent
Silva Token: $74.10 – 0.000000000003034 percent down
GRAP: $0.04848 – 67.00 percent drop
Luna Inu: $0.001122 – 58.41 percent down
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