Crypto Price Today Live: Bitcoin falls below $21,800; m-cap drops below $1 trillion

New Delhi: The cryptocurrency Markets were mixed on Thursday after aggressive comments from Federal Reserve Chairman Jerome Powell raised the possibility of further rate hikes to tackle inflation. Bitcoin, Solana and Polygon traded with cuts, while BNB, XRP and Shiba Inu traded with gains.

The global cryptocurrency market capitalization traded lower around 996.91 billion, falling 0.93% over the past 24 hours.

“Crypto market capitalization fell below the $1 trillion mark as the US central bank sent strong signals on how to address inflation through tight monetary policies and rate hikes. Aggressive monetary policies may ease liquidity in the market in the coming weeks, which may result in further price falls," said Shivam Thakral, CEO of BuyUcoin.

“The fall in prices will offer experienced investors a buying opportunity based on their risk appetite,” Thakral added.

Bitcoin (BTC) fell 1.24% to $21,751, while Ethereum (ETH) was below the $1,550 level. BTC volume in the last 24 hours stood at approximately $21.68 billion, falling 10.01% in the last 24 hours.

The total volume in DeFi is currently 3.68 billion, 8.50% of the total 24-hour volume of the crypto market. The volume of all stablecoins is now at $39.04 billion, which is 90.12% of the total 24-hour volume of the crypto market.

The market capitalization of Bitcoin, the world's largest cryptocurrency, was around $420 billion. Bitcoin dominance is currently at 42.12%, a 0.04% decline over the day, according to CoinMarketCap. “Bitcoin fell below the $22,000 level over the past 24 hours as investors continued to react to US Federal Reserve Chairman Jerome Powell on interest rate hikes. It appears that It is difficult for bulls to push the price above the $22,800 breakdown due to the uncertainty, which suggests that there is currently a lack of aggressive buying at these levels, which could see the price drop to the crucial support level. $21,480," said Edul Patel, co-founder and CEO of Mudrex.

Crypto Cart: Fast Look (Fountain: coinmarketcap.comdata as of 11:46 a.m. IST 09 Mar 2023)

Bitcoin $21,751 -1.24%

Ethereum $1,539 -0.91%

Mooring $1 -0.01%

BNB $289.79 1.23%

XRP $0.3892 3.92%

dogecoin $0.07202 -1.33%

Cardano $0.3192 -1.25%

Polygon $1.06 -6.03%

Polka dots $5.64 -0.82%

Tron $0.06584 -0.54%

Litecoin $83.11 -2.22%

Shiba-Inu $0.00001112 2.82%

Solana $18.58 -5.54%

(Note: price change in the last 24 hours)

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