Bitcoin price climbed above $36,000 today in cryptocurrencies after remaining under pressure in previous sessions. At $37,230.26, the world’s largest cryptocurrency was up over 2.83 percent. Bitcoin has lost more than 20% year-to-date, while it has nearly half from its all-time high of $69,000 in November, a drop of more than 50%.
According to Coinmarketcap, Ether, the second-largest cryptocurrency and the unit linked to the Ethereum blockchain, was marginally lower at $2,374. Binance Coin increased by more than 5% to $383.
The price of Dogecoin increased by 0.4 percent to $0.14, while the price of Shiba Inu increased by over 2.25 percent to $0.00002102. Other cryptos saw mixed results, with XRP, Stellar, Avalanche, Cardano, Solana, and Polygon all-seeing rises in the last 24 hours, while Terra and Uniswap prices fell. Meanwhile, according to reports, the global cryptocurrency market capitalisation fell 0.4 percent to $1.74 trillion today, owing to today’s mixed performance in crypto prices.
In recent weeks, cryptocurrencies have been subjected to massive selling pressure. Since the beginning of the year, digital tokens and stocks have plummeted in lockstep, owing to investor concerns about how a succession of predicted Federal Reserve interest rate hikes will affect markets. The Federal Reserve kept its interest rate near zero on Wednesday, intending to raise it to combat inflation.