Cryptocurrency prices today: Bitcoin, ether slip while Tron, Polygon gain

In cryptocurrencies, Bitcoin price today, which is the world’s largest and most popular cryptocurrency, was trading about 0.6% lower at $19,188. The global crypto market cap today remained below the $1 trillion mark, as it was down nearly a per cent in the last 24 hours at $966 billion, as per CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, slipped more than a per cent at $1,292. Meanwhile, dogecoin price today slipped over 2% to $0.05 whereas Shiba Inu fell slightly to $0.000011.

“Bitcoin traded above the $19,000 level over the weekend, continuing the slight gains from the past month. BTC failed to hold above the $20,000 level last week due to a lack of buying activity above that level. If BTC can break above the $19,500 level, the immediate resistance would be $20,000. But, if it drops below the current level, we might see BTC returning to the $18,500 level. The second largest cryptocurrency, Ethereum, was changing hands between the $1,200 level as investors are still digesting the latest hawkish comments by the U.S central bank in a speech on Friday,” said Edul Patel, CEO and Co-founder of Mudrex, a global crypto investment platform.

Other crypto prices’ today performance were mixed as Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, XRP, Stellar, Terra and Terra Luna Classic prices were trading with cuts over the last 24 hours, whereas Tron, Polygon, gained marginally.

Global markets have sunk in the past few months as central banks around the world raise interest rates to curb soaring inflation. Risk assets like cryptocurrencies have been especially hard hit as recessionary fears rise.

Meanwhile, investors pulled out $17.6 million from crypto exchange-traded funds in the three months ending Sept. 30, according to data compiled by Bloomberg Intelligence. That figure, as of Friday morning, is far below the record $683.4 million withdrawn from such funds in the second quarter. The outflows mainly took place in the past two months. In July, investors poured upwards of $200 million into crypto ETFs, reported Bloomberg.

(With inputs from agencies)

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