Bitcoin price dips below $21,000 | Check latest cryptocurrency rates - India Today

Bitcoin on Monday fell nearly 4 per cent as the price was hovering around $20,500-mark. The cryptocurrency market weakened as investors were looking for the US consumer price index reading which will be out this week.

The world's largest cryptocurrency, Bitcoin, was down by 3.83 per cent to $20,553. Ethereum, the world's second largest cryptocurrency, fell by 3.68 per cent to $1,150.09.

"Most cryptocurrencies dipped over the weekend with increasing selling pressure. Bitcoin has been down by nearly 4 per cent since the last day. If bulls can keep the bar above the US$21,000 level, we might see sharp upward moves," Edul Patel, Co-Founder & CEO, Mudrex said.

"While on the other hand, as the price of Ethereum also falls, the revenue of projects based on the network is also plunging drastically. Ethereum has lost nearly 5 per cent, and it is about to test its support level at US$1,200. If buyers lose control to sellers, we might see Ethereum falling to the US$1,000 zone," Patel said.

XRP price fell 5.49 per cent, Solana price was down by 5.33 per cent, Cardano fell by 4.12 per cent, Stellar fell 6.24 per cent.

Popular cryptocurrencies, Dogecoin, was down by 4.14 per cent, Polkadot fell by 4.29 per cent, Avalanche was down by 6 per cent, Shiba Inu fell by 2.83 per cent.

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