Bitcoin price drops $30,000, other cryptocurrencies in red

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Bitcoin price was down 0.55% at $29,686.88. Ethereum fell 3.18% to $1,923.80.

Binance Coin fell over 4%, XRP fell 1.86%, Solana fell 5.26%.

STRONG POINTS

  • Bitcoin is trading in a tight range
  • Dogecoin fell by 3.27%
  • Shiba Inu fell 1.97%

Bitcoin’s price fell below $30,000 on Thursday as other major cryptocurrencies slipped into the red.

The current uncertain environment of high inflation and falling economic indicators is impacting investor sentiment, according to data from CoinDesk.

BITCOIN PRICE

Bitcoin price was down 0.55% at $29,686.88. Ethereum fell 3.18% to $1,923.80.

“Bitcoin fell below the US$30,000 level. BTC has been trading in a narrow range for the past few weeks. BTC price is consolidating. Although there are chances that BTC price will improve, it could be limited,” Edul Patel, CEO and co-founder, told Mudrex.

“As momentum improves over the past week, this may keep buyers active above the BTC support level,” Patel said.

Binance Coin fell over 4%, XRP fell 1.86%, Solana fell 5.26%.

Major alternative coins Dogecoin fell 3.27%, Shiba Inu fell 1.97%.

Cardano fell 3.28%, Stellar 1.24%, Polkadot 3.95%, Avalanche more than 8%, Polygon 3.21%.

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