Bitcoin, ETH post losses like most altcoins, Tether gains

The overall cryptocurrency price chart mainly reflects losses on Thursday, February 22nd. Bitcoin, which has been on a profit-making spree in recent days, recorded a 1.24% loss on Thursday. As of the time of writing, Bitcoin is worth $51,392 (approximately Rs. 4.26 crore). The value of Bitcoin has fallen by $605 (approximately Rs. 50,170) in the past 24 hours. The resistance for BTC is $53,000 (approximately Rs. 43.9 million). Market analysts fear that Bitcoin’s continued rejection at resistance levels could lead to a pullback to $48,000 (roughly Rs. 3.98 lakh) to $49,000 (roughly Rs. 40 lakh) ahead of the upcoming halving.

Ethereum fell 1.82% on Thursday. The current value of ETH is $2,841 (approximately Rs. 2.3 lakh).

“The overall cryptocurrency market is facing declines as Bitcoin’s market oscillators point to further price corrections, indicating increased market dominance. Altcoins such as Solana, Ethereum, Ripple and others are also facing declines after rising in price for a few days. Small The increase in the number of large-scale retail investors may improve the price movement of the token,” WazirX Vice President Rajagopal Menon told Gadgets360.

Recent statements from the Federal Open Market Committee (FOMC) also indicate that there will not be any reduction in interest rates – which could lead to a period of loss for most altcoins.

Solana, Ripple, Cardano, Avalanche, Tron and Dogecoin all fell alongside BTC and ETH on Thursday.

Polkadot, Polygon, Shiba Inu, Bitcoin Cash, Litecoin, Uniswap, Leo and Cosmos also posted losses.

The overall market value of cryptocurrencies fell by 1.42% in the past 24 hours. The current cryptocurrency market valuation is USD 1.95 trillion (approximately Rs. 1,61,68,717 crore) coin market cap.

Only a handful of cryptocurrencies managed to move higher on Thursday. These include Tether, Binance Coin, USD Coin, Iota, and Dash.

Meanwhile, artificial intelligence tokens including SingularityNet (AGIX, +26.46%), FetchAi (FET, +3.76%) and Render (RNDR, +8.36%) after Nvidia’s fourth-quarter earnings beat analysts’ expectations Prices soared. Parth Chaturvedi, head of investments at CoinSwitch Ventures, told Gadgets360 that the company’s shares also rose by more than 7% in after-hours trading yesterday.