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Cryptocurrency Fails To Stabilize, Market-cap Slips 1.39%: Bitcoin Plunges To US$ 19,286

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Cryptocurrency markets are remaining under pressure and fail to stabilize pricing. The global crypto market capitalization is $937.13B, showing a 1.39% decrease over the last day, informs Coinmarketcap.com. data. Bitcoin has been highly volatile, and investors have faced major losses as central banks across the globe started to hike interest rates to control inflation. Hence, the US Dollar index and major bond yield are surging, surpassing the crypto growth.

 
Cryptocurrency Fails To Stabilize, Market-cap Slips 1.39%: Bitcoin Plunges

Today, on October 1, at 4.19 pm UTC, Bitcoin fell by 0.85% intra day trading, and was quoted at US$ 19,286.30. Yesterday, Bitcoin closed at US$ 19,452.20. However, Bitcoin, in the last 5 days gained only 0.31%. In the past 1 month, it has dropped by 4.27%. Additionally, in the last 6 months, Bitcoin plunged by 58.34%. Showing similar, other cryptocurrencies have also fallen today. Ethereum was quoted at US$ 1,319, down by 0.73%. Yesterday, Ethereum closed at US$ 1,327.92. Litecoin was quoted at US$ 53.24, down by 0.45%, Dogecoin was quoted at US$ 0.0612 down by 0.75%, and Cardano was quoted at US$ 0.4308 down 0.87% today, till last traded.

Meanwhile, the US stock markets still did not revive from the bear zone. S&P 500 was down by 1.51%, stood at 3,585.62 points, and Nasdaq Composite was down by 1.51%, stood at 10,575.62, at the time of writing. However, the US Dollar index quoted at 112.17 today, falling by 0.07%.

Story first published: Saturday, October 1, 2022, 22:11 [IST]
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