Bitcoin fell 8 percent and Ethereum fell 21 percent on Wednesday. Binance coins, XRP and Cardano also fell in double digits. Interestingly, sales were relatively high. Given this trend, analysts say, this means that the trend may continue for some time. This means that for some time, the expected correction in cryptocurrency prices does not seem to be worthwhile. July 14 at 6 pm IST Bitcoin prices in India 24.2 lakh.
Edul Patel, CEO and co-founder of Mudrex, said: “Markets are currently being pulled by the Bears. While it wasn’t an anxious sales session, the ongoing momentum in the markets is quite interesting. Bitcoin is at the 33,000 level. Etherium has fallen below $ 2,000, causing fear among weightcoins. Such instability is expected to continue throughout the week. “July 14 at 6 pm IST Etherium prices in India 1.45 lakh.
Although sales were off not only in the crypto market, stocks around the world were also under pressure. The main reason behind this is higher-than-expected inflation in the United States, which has boosted yields and the US dollar. The Department of Labor said Tuesday that the U.S. consumer price index jumped 0.9% in June. It was above market expectations and the biggest gain since June 2008.