Bitcoin drops below $43,000
The largest cryptocurrency in the world by market cap, Bitcoin, dropped by 0.64 percent to $ 42,32.66.
Bitcoin price was drifting below the $42,500 mark as the overall global cryptocurrency market volume was down.
Other cryptocurrencies dropped too.
The world’s largest cryptocurrency by market cap, Bitcoin, fell by 0.64% to 42,322.66.
The second-largest cryptocurrency, Ethereum, was down by1.70% to $3,185.66.
Other cryptocurrencies like XRP fell 2.52 percent, Terra fell 6.06 percent, Solana fell 0.88 percent, Cardano fell 1.78 percent, Avalanche fell 4.14 percent and Polkadot dropped by 4 percent.
Other popular altcoins like Dogecoin fell 1.51 percent and Shiba Inu dropped by 1.20 percent.
“Ethereum, Bitcoin, and other major cryptic currencies continued to drop over the weekend. The situation could be due to the economic crisis resulting from the invasion of Ukraine from Russia and increases in the interest rates of the US Central Bank. Given that BTC is close to its support level between $40,000 and $43,000, this could lead to a brief pullback,” said Edul Patel, CEO, and co-founder of Mudrex.
“Based on market cap, ApeCoin is up almost 5 percent, STEPN is up 3 percent and Kyber Network Crystal v2 is up 17 percent over the past day. With April and June considered strong seasonal periods for cryptos and stocks, this may drive short-term buyers in the coming days,” Patel said.