Cryptocurrency Prices Today: Bitcoin Below $34,000; Ether, Dogecoin Also Fall

Bitcoin, the world’s most popular cryptocurrency fell over 4 per cent and was trading at $33,128 at around 12:15 pm. Its closest competitor Ether was down over 7 per cent in what seems to be a result of higher outflows.

All other cryptocurrencies were trading lower including Dogecoin, Cardano, XRP, Stellar, Uniswap, Chainlink, Polkadot and Litecoin.

Commenting on the brood-based fall, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto trading platform, said, “After the wonderful rally observed across the crypto spectrum in the past few days, we are curiously witnessing a profit booking session. Most of the major cryptos are down by around 5%.”

“Bitcoin investors are getting anxious as it is currently trading just above the $33,000 mark. Short sellers would be watching this closely as well. A drop below this level would likely see a huge number of short positions opening,” he added.

Patel went on to say that profit booking had a larger impact on some major altcoins. “Ether is down by approximately 6 per cent and Ethereum Classic tanked more than 7 per cent. The meme coins, Dogecoin and Shiba Inu, have taken quite a toll. Both these cryptos are down by approximately 8 per cent,” Patel said.

“Currently, Bitcoin and Ether are close to support levels and these levels would be closely tracked. In case these support levels are broken, we might see a further sell-off across the spectrum,” he said.

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency	Price (US Dollar)	24-hour change	Market cap (Billion)	Volume (24 Hours)
Bitcoin	33,129.88	-4.65%	$621.17	$23.57 billion
Ether	2,214.48	-7.10%	$258.21	$22.01 billion
Dogecoin	0.217647	-7.23%	$28.34	$1.49 billion
Litecoin	133.45	-5.85%	$9.08	$343,967
XRP	0.632249	-5.61%	$63.22	$2.01 million
Cardano	1.37	-4.21%	$44.11	$2.04 million