{"id":2950,"date":"2024-01-19T09:32:49","date_gmt":"2024-01-19T09:32:49","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/01\/19\/crypto-price-today-bitcoin-falls-below-41400-solana-avalanche-decline-over-6\/"},"modified":"2024-01-19T09:32:49","modified_gmt":"2024-01-19T09:32:49","slug":"crypto-price-today-bitcoin-falls-below-41400-solana-avalanche-decline-over-6","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/01\/19\/crypto-price-today-bitcoin-falls-below-41400-solana-avalanche-decline-over-6\/","title":{"rendered":"Crypto Price Today: Bitcoin falls below $41,400; Solana, Avalanche decline over 6%"},"content":{"rendered":"
Cryptocurrency markets were trading lower in Friday’s trade due to heavy outflows in ETFs. Bluechip crypto token BTC fell 3.2% to $41,381 in early trading on Friday, while Ethereum fell 2.5% to $2,467.<\/p>\n

“The crypto market is witnessing an unexpected downward trend as Bitcoin faces selling pressure due to heavy outflows from Exchange Traded Products (ETPs) to new spot ETF issuers,” said Shivam Thakral, CEO of BuyUcoin.<\/p>\n

“For example, Blackrock\u2019s Bitcoin ETF accumulated $1 billion worth of BTC in just one week, which means there is a heavy outflow of Bitcoin to such regulated ETFs. We can expect the Bitcoin price to rise once this transition cools down and investors are done with profit booking,” he said.<\/p>\n

Other major altcoins, such as Solana and Avalanche, fell over 6% each. Also, Cardano, XRP, Dogecoin, Polkadot, Chainlink, Toncoin, Polygon, Internet Computer and Shiba Inu declined.<\/p>\n

Meanwhile, Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said, “BTC underwent \u2018sell the news\u2019 pressure related to investor activity around the spot ETF approvals, leading to its lowest price in a month. We can expect some volatility in BTC\u2019s price for some time. However, the ETF inflows and Assets under Management (AUM) continue to see healthy numbers.”The total volume in DeFi is currently $5.54 billion, 8.49% of the total crypto market 24-hour volume. The volume of all stablecoins is now $59.51 billion, which is 91.23% of the total crypto market 24-hour volume.<\/p>\n

In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, declined to $812 billion. Bitcoin’s dominance is currently 49.67%, according to CoinMarketCap. BTC volume in the last 24 hours increased 32.55% to $26.9 billion.”From a technical standpoint, BTC faces a critical challenge in maintaining the current support at $41,000. A breach below this level might signal a bearish sentiment, while a successful hold could pave the way for a continuation of a new higher high,” said CoinDCX Research Team.<\/p>\n

“As for ETH, it remains positioned above the 20 EMA D. To sustain a positive trajectory, ETH needs to stay above $2,400, as dropping below this level could introduce a bearish turn,” CoinDCX said.<\/p>\n

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)<\/i>
<\/i><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency markets were trading lower in Friday’s trade due to heavy outflows in ETFs. Bluechip crypto token BTC fell 3.2% to $41,381 in early trading on Friday, while Ethereum fell 2.5% to $2,467. “The crypto market is witnessing an unexpected downward trend as Bitcoin faces selling pressure due to heavy outflows from Exchange Traded Products […]<\/p>\n","protected":false},"author":1,"featured_media":2951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/2950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=2950"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/2950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/2951"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=2950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=2950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=2950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}