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Cryptocurrency update: It was another volatile day for the global cryptocurrency market as all major cryptocurrencies fell during the early hours of Monday, April 25, causing the entire market to trade in the red. Bitcoin traded below $39,000 more than a month later. The price of Bitcoin today at the time of writing this article is standing at $3,8961.56, down 1.87 percent over the past 24 hours, according to the data. The Global cryptocurrency market Data from CoinMarketCap also showed a 2.32 percent drop in the past 24 hours, with a value of $1.80 trillion.
“Bitcoin It marginally fell below $39,000 for the first time in over a month. However, bitcoin reserves on exchanges have continued to dwindle and are in fact at a record low. This is linked to the massive accumulation of BTC by whales and institutes, which has led to a supply crunch. On the daily time frame, the BTC trend is trading with the support of the bullish channel pattern. We can expect a bounce from this level given the previous trend pattern. The next resistance for BTC is expected at $48,600 and immediate support is expected at $37,600. “
Ether has also experienced losses in the past 24 hours. Today, the price of Ethereum fell below $2,900 to stand at $2,844.18, down 3.55 percent, at the time of writing.
“Ethereum corrected marginally against Bitcoin throughout the week as the BTC Dominance continued to rise. Meanwhile, the RSI for ETH-BTC fell below 50 for the first time in over a month but remained in solid territory. Daily trend formation ETH vs BTC speaker pattern Next resistance expected at 0.078 and next support at 0.0653 “We could see Ethereum and other Altcoins slide in the coming days, if Bitcoin continues to dominate,” WazirX Trade Desk added.
Meanwhile, a report by data analytics firm Chainalysis found that cryptocurrency investors around the world earned a total of $162.7 billion in 2021, a 400 percent increase from 2020.
It is a great encouragement for the crypto community around the world to see cryptocurrency investors have made huge profits by placing their trust in crypto assets. The increase from $32.5 billion in profits in 2020 to $162.7 billion in 2021 attests to the fact that during the second phase of the pandemic, investors chose the cryptocurrency market over traditional markets to beat inflation and create wealth in times of crisis.
Here are the top 10 cryptocurrencies and their prices on April 22, 2022 (data from coinmarketcap.com)
Bitcoin $38,961.56 or a loss of 1.87% over the past 24 hours
Ethereum $2,844.18 or 3.55% loss in the last 24 hours
Assess a loss of $1.00 or 0.00 percent in the last 24 hours
$391.17 BNB or 3.30 percent loss in the last 24 hours
USD Coin 0.9996 USD, or 0.10 percent loss in the last 24 hours
XRP $0.679, or 4.42 percent loss over the past 24 hours
Solana $97.75 or 3.57 percent loss in the last 24 hours
Terra $90.23 or 1.53 percent loss over the past 24 hours
Cardano $0.8706, or 2.85 percent loss over the past 24 hours
Avalanche $69.99 or 4.11 percent loss over the past 24 hours
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