Cryptocurrency Price: The crypto markets have not corrected even at a time when global stock markets have seen a strong rally as Terra’s fall still hurts investor sentiments. In fact, the price of Ether fell by almost 9 percent over the past 24 hours, while Bitcoin fell below the $28,000 mark. Solana also declined 11 per cent on the day. As a result, global cryptocurrency market Friday, May 27, was down 4.46 percent from the previous day, at $1.19 trillion at the time of writing this article.
“Despite strong growth in equities in the last 24 hours, crypto market Altcoins in particular are in severe pain. The correlation of crypto and equities has been broken for some time, apparently. Terra’s defeat is still hurting sentiments, especially in the DeFi realm. Kunal Jagdale, Founder, BitsAir Exchange said, “Considering the macroeconomic view, investors should stay away from high-risk investments in the movement.
bitcoin price today It fell 2.52 percent to $28,966.87 at the time of writing this article. “Bitcoin is down 1 percent yesterday below the $29K level. Without any significant movement. On the 4-hour time frame, BTC is trending in a bizarre manner within a triangle pattern. Daily RSI of 40K is below the mark and is still near the oversold zone. Immediate support is expected at $26,800,” said WazirX Trade Desk.
“Bitcoin was still trading below the $30,000 level, while altcoins continued to outperform. Typically, in bearish markets, alts underperformed BTC because of their higher risk profile. Macroeconomics Considering the conditions, a risk-off approach means investors will stay away from high-risk investments at this juncture,” said Darshan Bathija, CEO and Co-Founder, Wold.
Altcoins such as Ether and Solana also saw sharp declines. Ether was priced at $1,767.43 today, down 8.03 percent over the past 24 hours.
“Ethereum saw a major correction as it fell nearly 9 percent in a single day and fell below the $1,800 level for the first time in 9 months. ETH also dropped against BTC and lost around 6% as bitcoin dominated The index rose above 46 percent. The daily chart of ETH-BTC has broken below an ascending channel pattern, breaking its previous support level of 0.064. The next support for ETH-BTC is expected at the level of 0.055, said the WazirX Trade Desk.
Here are the top 10 cryptocurrencies and their prices as of May 27, 2022 (according to data from coinmarketcap.com)
Bitcoin lost $28,966.87 or 2.52 percent in the last 24 hours
Ethereum lost $1,767.43 or 8.03 percent in the last 24 hours
Tether is up $0.99991 or 0.01 percent in the last 24 hours
USD coin up $1 or 0.04 percent in last 24 hours
BNB has lost $297.57 or 7.46 percent in the last 24 hours
XRP Loss $0.3965 or 1.00 percent in the last 24 hours
Binance USD is up $0.9997, or 0.006 percent, in the last 24 hours
Cardano has lost $0.4612 or 8.35 percent in the last 24 hours
Solana has lost $41.23 or 11.07 percent in the last 24 hours
Dogecoin lost $0.07737 or 4.28 percent in the last 24 hours