BTC Continues To Struggle As It Dips By 1.34%, Falls Below 22k As Bears Take Control

Bitcoin Price Today: The market is trading in red today as Bitcoin, and Altcoins including Ethereum see a decline. As of writing, Bitcoin price has decreased by 1.34% in the last 24 hours.

Some analysts are of believe that the token will go back to the 20k mark, whereas, others are still bullish on it. Bitcoin jumped over $25,200 in February, for the first time since last year August. Despite having a great start to the year and rallying throughout the first 45 days, Bitcoin volatility has increased in the past few weeks as SEC continues to crack down on crypto companies and Silvergate Capital’s parent company has decided to wind up operations. 

The global crypto market cap stands at 997 billion USD, slipping down from the trillion mark, a decrease of 1.48% over the past day. The total crypto market volume in the last 24 hours increased by 1.07% and is currently at 44.84 billion USD.

Bitcoin (BTC) price dips by 0.28%

The world’s largest crypto, Bitcoin price decreases by 1.34% in the last 24 hours, thus, taking the market cap to 419.96 billion USD. Each BTC is trading for 21,745 USD. The crypto which was seeing a turnover at the start of the year has been facing a tough few weeks. Trading volume in the last 24 hours is down by 11.63% indicating poor interest from investors. The dominance of Bitcoin has decreased by 0.04% compared to the previous day and stands at 42.10%. Source: coinmarketcap

Also read: CFTC Calls Ether and Stablecoins as Commodities, Will the SEC Agree?

In the last 24 hours, Bitcoin was trading as high as $22,198  and fell to as low as $21,692. In the past week, the token was also trading for as high as $23,479. 

The hopes for a resurgence in the price of Bitcoin were dashed as it failed to breach the critical $22,250 resistance zone. Inexorable bearish forces continued to exert their influence, dragging the price down below the support level of $22,000.

This sharp decline paved the way for even greater losses, as the price plummeted further to establish a new monthly low of around $21,692. Presently, Bitcoin’s price is consolidating the losses incurred during this tumultuous period. As things stand, Bitcoin’s price remains below the $22,000 mark.

Price of Bitcoin in different countries:

BTC Price in India

Each BTC can be bought in Indian currency for INR 17,81,204.

BTC Price in Singapore

For the people of Singapore, each BTC is currently costing 29,424 Singapore dollar.

BTC Price in Dubai

The price of each BTC in Dubai is 79,871 UAE Dirham.

Also read: 3 Triggers That Can Kickstart A Crypto Bull Run

Shourya is a fintech enthusiast who mainly reports on Cryptocurrency Prices, Union Budget, CBDC, and FTX collapse. Connect with her at [email protected] or tweet at Shourya_Jha7

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.