Bitcoin’s price was down by 1.24 per cent to $39,203. The Ethereum price was 2.69 per cent to $2,869.
Bitcoin price in red on Monday.
Bitcoin’s price fell below $40,000 and other cryptocurrencies were in the red on Monday, according to CoinDesk data.
This comes as investors remain cautious over the situation in Ukraine and the possibility of an interest rate hike by the US central bank.
BITCOIN PRICE TODAY
Bitcoin’s price was down by 1.24 per cent to $39,203. The Ethereum price was 2.69 per cent to $2,869.
“Bitcoin, Ethereum and most cryptocurrencies dipped over the weekend due to the ongoing tension in Ukraine on one side and the U.S Federal Reserve’s comments on the other side on interest rate hikes due to inflation. BTC and ETH are down by nearly 2% and 3% and have been trading below US$40,000 and US$3,000 levels since Friday,” Edul Patel, CEO and Co-founder of Mudrex, said.
“BTC’s current support lies at US$37,000 while the resistance holds at the US$46,000 level. We could see the loss of upward momentum in the two significant cryptos, BTC and ETH. If BTC breaks below US$35,000, the next support would be US$30,000. We could see range-bound trading in the coming days,” Patel said.
OTHER CRYPTOCURRENCY PRICES TODAY
XRP was down 4.43 per cent, Terra fell 1.21 per cent, Solana was down by 3.17 per cent, Cardano fell by 2.90 per cent, Avalanche fell by 3.42 per cent, Polkadot was down by 5 per cent, Stellar fell by 3.06 per cent.
Other alt coins, Dogecoin, fell by 4.05 per cent and Shiba Inu was down by 3.45 per cent.
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