Bitcoin price on Friday dipped below $40,000 as most other cryptocurrencies, including Ethereum, were trading in the red, according to coindesk.
BITCOIN, ETHER DOWN
The largest cryptocurrency in the world, Bitcoin was down more than three percent at $38,593.50.
Ethereum was down more than 2.5 percent at $2,548.86.
OTHER CRYPTOCURRENCIES
Other top altcoins by market cap also fell into the red zone.
XRP was down 0.68 percent, Solana was down 2.82 percent, Cardano was down 2.18 percent, Polkadot was down 0.46 percent, and Stellar was down 4.69 percent.
Dogecoin was down 1.30 percent, Polygon was down 0.75 percent, and Shiba Inu was down more than 3 percent.
CRYPTOCURRENCY MARKET IN INDIA
Meanwhile, the Indian crypto market experienced an exodus of funds from foreign investors. India is one of the largest crypto markets in the world by trading volume and users.
โGlobal market capitalization and trading volume fell on Thursday. Bitcoin and Ethereum dipped below the $39,000 and $2,600 levels. BTC support between $35,000 and $37,000 may stabilize the pullback,โ said Edul Patel, CEO and co-founder of Mudrex.
โAccording to market cap, major cryptocurrencies are also in the red over the last day. The situation is due to the ongoing war crisis between Russia and Ukraine affecting the economy and driving up inflation rates. We could see a lot of high volatility in the crypto market this month due to the tension of the war," Patel said.
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