Crypto Market in Red, Bitcoin Price More than USD 1,04,100, Ether Sees Minor Profit

Crypto market has volatility for the last few weeks. The largest cryptocurrency bitcoin price has decreased by more than one percent in terms of market value. The new government headed by Donald Trump in the US has taken some decisions about this segment. However, despite this there is a decline in this market.

International Crypto Exchange after this report is published Binance But the price of bitcoin was trading by about 1.10 percent to about $ 1,04,028. The second largest cryptocurrency Ether had some boom. The price of Ether was up to about $ 3,239 by more than 0.90 percent. Apart from this, Solana had a loss of about 2.40 percent and XRP was more than one percent. Other declining cryptocurrency included Cardano, Ripple, Bitcoin SV, Chainlink and BNB. In the last one day, Crypto’s market capitalization declined by about 0.50 percent to about 3.53 million million dollars. Bitcoin holds more than 58 percent in this market.

Market Analysts say that Ether is finding it difficult to break the resistance of $ 3,500. However, its price may increase with the Pectra upgrade. Regulatory framework will be prepared for cryptocurrency in the US. During his election campaign, Trump indicated that Bitcoin’s reserve and a policy in favor of Crypto. However, the Federal Reserve disagreed over the plan to create a reserve of bitcoin. Recently, Bitcoin set up a high level of over $ 1,09,200.

This market declined due to no mention of crypto in the first address after Trump became President earlier this month. The US Securities and Exchange Commission (SEC) has stated that a task force has been formed with the objective of creating a regulatory framework for cryptocurrency. The previous US government took action against many firms associated with Crypto by alleging violation of rules. These firms included coinbase and kraken. However, these firms had denied the allegations of breaking the rules. Institutional investors have increased interest in this segment. In the last few weeks, software maker Microstrategy has bought a large number of bitcoin. Russia’s companies are also using this most popular cryptocurrency in business from abroad.