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Cryptocurrency update: Globalism Cryptocurrency market Friday, April 22nd, recorded a marginal decline amid the hawkish comments of Federal Reserve Chairman Jerome Powell, and the US central bank’s determination to be aggressive to tackle inflation. This paid all the specialists Cryptocurrencies To check out the value, the top 10 red symbols were traded at the time of writing this article. The global cryptocurrency market is down 2.28 percent in the past 24 hours to $1.88 trillion, according to data from CoinMarketCap.
The hawkish commentary from Federal Reserve Chairman Jerome Powell weighs heavily on the crypto markets. The US central bank is expected to be preemptively assertive in the face of rising inflation figures. “The risks of rising borrowing costs and a possible economic downturn make safe havens an attractive bet, and thus investors are turning away from risky assets,” said Kunal Jagdel, founder of BitsAir Exchange.
The data showed that Bitcoin held at $40,000 a day but fell more than 2 percent. At the time of writing this article, Bitcoin is down 2.36 percent in the past 24 hours to trade at $4,0679.75. However, over the past seven days, the price of Bitcoin has increased by 1.39 percent.
“Bitcoin has been marginally corrected down to nearly $40,000 in the past few hours as exchanges have seen heavy selling volumes with generally weak crypto markets. The drop in BTC price is likely due to traders taking profits as Bitcoin rises above 42 Thousand dollars earlier yesterday. The two-hour trend of BTC can be seen breaking below the ascending triangle pattern. The immediate support for Bitcoin is expected to reach $37,600.”
Ether is also down 2.40 percent in the past 24 hours to stand at $3,018.45 at the time of writing, according to the data.
“We have seen a sharp influx of Bitcoin and Ethereum from exchanges which indicates that there are few coins on the exchanges for buyers. The 30-day supply of Bitcoin on exchanges has been negative (outflows greater than inflows) since March 11, and ETH since March 15. This is It underscores the range-bound movement we’re seeing because as prices go up or down, there isn’t a lot of liquidity needed to “turn the momentum into price action,” said Darshan Batega, CEO and co-founder of Fold.
Here are the top 10 cryptocurrencies and their prices on April 22, 2022 (data from coinmarketcap.com)
Bitcoin $40,679.75 or 2.36% loss in the past 24 hours
Ethereum $3,018.45 or 2.40 percent loss in the last 24 hours
Assess a loss of $1.00 or 0.01 percent in the last 24 hours
BNB $411.21 or 2.78 percent loss in the last 24 hours
USD Coin 1 USD or 0.01 percent loss in the last 24 hours
XRP $0.7354 or 2.53 percent loss over the past 24 hours
Solana $103.21 or 3.58% loss in the last 24 hours
Terra $93.76, or 0.31 percent loss in the last 24 hours
Cardano $0.9208, or a 2.79 percent loss in the past 24 hours
Avalanche of $76.62 or 3.17 percent loss in the past 24 hours
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