On Tuesday, October 3, Bitcoin was trading down 1.39% in value. Despite this loss, the price of Bitcoin reached $27,415 (approximately Rs. 2.28 crore), which is relatively higher than the price range that BTC has been trading in throughout September. The price of the most valuable cryptocurrency has increased by $498 (approximately Rs. 41,457) in the past three days, including the weekend. However, Bitcoin’s current losses do show its impact on other cryptocurrencies, including Ethereum.
Ethereum fell even more than Bitcoin on Tuesday. At the time of writing, ETH was down 3.23% and trading at $1,661 (approximately Rs. 1.38 lakh). There has been no significant change in the price of ETH over the past three days.
“Bitcoin briefly broke above the all-important resistance at $28,500 (~Rs 2.37 Lakh), which is also the 50-day exponential moving average (50EMA), before bears took over and Bitcoin fell back to around $27,500 (~Rs 2.37 Lakh) ). Shubham Hudda, senior manager at CoinSwitch Markets Desk, told Gadgets 360: “Rs 2.28 million). This volatility means that the market has seen the highest trading volume in more than a month. More trading volume will attract more traders to the market. “
Traditionally, the market trajectories of BTC and ETH tend to hint at price points for other cryptocurrencies. For example, today, a large number of cryptocurrencies are in the red.
These include Binance Coin, Ripple, Solana, Cardano, Dogecoin, and Shiba Inu – all of which saw value declines.
Additionally, Chainlink, Avalanche, Stellar, Monero, Cosmos, and Uniswap are all in the red on cryptocurrency price charts.
“This price movement may be attributed to a sharp 11 basis point increase in the U.S. 10-year Treasury yield to 4.69%. This has a slight impact on gains driven by positive indicators, such as the approval of the Ethereum Futures ETF. Mudrex Co-Founder CEO Edul Patel told Gadgets 360, “The SEC report. However, it’s worth noting that Bitcoin typically performs strongly in October, rising 68.21% for the year. “
The overall valuation of the cryptocurrency industry fell by 1.80% in the past 24 hours.according to coin market capThe current cryptocurrency market capitalization is $1.09 trillion (approximately Rs. 9,073,857 crore).
Meanwhile, razor-thin profits have some cryptocurrencies trading in the green today.
These include Tether, USD Coin, Bitcoin Cash, Leo, Bitcoin SV and Cartesi.
Meanwhile, in an interesting development yesterday, a Twitter account named @satoshi became active after five years and claimed that Bitcoin is a predicate machine with different aspects yet to be explored.
Bitcoin is a predicate machine. Over the next few months, we will explore different aspects not explicitly included in the white paper. These aspects are all part of Bitcoin, and they are all important. Some of these ideas were touched on in the early years; now…
— Satoshi Nakamoto (@satoshi) October 2, 2023
The person who appears to control the account is Craig Wright, who has been unable to prove in court that he is the real Satoshi Nakamoto.
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