2021-08-02 08:38:05

Cryptocurrency prices today: Bitcoin tests $40,000 after falling sharply, Ether rises

Cryptocurrency prices showed some signs of weakness on Monday as the virtual coin market goes through a period of consolidation. Despite the weakness, Bitcoin remains above $40,000. Check the latest cryptocurrency prices and trends.

Bitcoin’s value remained above $40,000 despite weakness in the cryptocurrency market. (Photo: Reuters)

Cryptocurrency prices went through a period of consolidation during the weekend after showing mixed trends for most parts of last week. The virtual coin market seems to have carried the weak momentum from the weekend on Monday as most cryptocurrencies fell.

Bitcoin, the world’s most popular cryptocurrency, fell marginally but remained above $40,000 at 12:41 pm, down over 3.28 per cent. Bitcoin’s market capitalisation remained stable at $755 billion.

While Bitcoin fell, its closest rival Ether rose to $2624.94, up over 1.26 per cent. Ether’s market capitalisation also rose to $306 billion.

However, most other altcoins fell today following last week’s strong rally. The price of XRP, Cardano, Stellar, Dogecoin, Chainlink and Litecoin fell in the range of 1.3-2.5 per cent.

Commenting on the slight weakness in the cryptocurrency market, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto trading platform, said, “We are witnessing a bit of consolidation across most cryptocurrencies. This consolidation was, nonetheless expected, after a strong rally during the past few days.”

“The technical indicators showed that both Bitcoin and Ether are hovering around the local resistance levels. The momentum of these coins at this point would influence the rest of the market movement,” he added.

“Over the next 24 hours, we can expect the markets to remain a bit indecisive. Cryptocurrency ‘fear and greed’ index shows the market sentiment to be neutral currently.”

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap (Billion)

Volume (24 Hours)

Bitcoin

40,181.49

-3.65%

$754.35

$29.14 billion

Ether

2,619.44

0.88%

$306.30

$25.40 billion

Dogecoin

0.207970

-2.22%

$27.15

$1.43 billion

Litecoin

145.03

-2.32%

$9.87

$1.77 billion

XRP

0.760365

-1.38%

$75.98

$3.53 billion

Cardano

1.34

-2.19%

$43.24

$1.51 billion

DISCLAIMER: The cryptocurrency prices have been updated as of 01:05 pm and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and be updated daily.

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