The cryptocurrency market had a mixed day on September 30. Some of the dominant digital currencies trading slightly lower than their previous levels while some are stable or higher.
Bitcoin, a leading cryptocurrency, remains steady significantly above $64000 after suffering a 1.94% decline within the last 24 hours on global platforms.
According to the statistics provided by CoinMarketCap, the price of Bitcoin was $64,452, which could be regarded as its decline in several price points but still as a leading cryptocurrency.
India looked relatively similar but seemed to be slightly steeper where the decline went beyond two percent and the value of Bitcoin ranged $65,734 on the platforms like CoinSwitch and CoinDCx. Analysts believe that the fundamentals remain strong due to the fact that BTC has recently created a higher high which is considered a very bullish signal in trading markets.
Ether, another popular digital currency, also fell by 1.52% across the globe, and the currency was trading at around $2,630. This decline was a bit more subdued on Indian exchanges, however, with Ether at $2,661, which was 1.20 percent lower. These statistics point to a stable market which experiences certain fluctuations in a short time span and is still able to generate interest for continuous trading.
The other altcoins also displayed similar dual sentiments – some went up while others declined sharply in value. Other altcoins like Tether, Cardano, Tron, Avalanche, Chainlink, and Polkadot also witnessed losses. However, tokens such as BNB, SOL, XRP, DOGE, and SHIB were able to create positive value within the volatile market. This diverse performance signifies the different investor response to occurrences in the crypto space and in the general economy.
The total market capitalization of the sector also dipped slightly by 1.70 percent over the last 24 hours and stands at about $2.27 trillion. This is due to the current passive attitude of investors while trying to maneuver through the different economic obstacles as well as the fourth quarter which is usually considered to be the strongest quarter in the crypto market.