Cryptocurrency Prices Today: Bitcoin Below $23,000; Ether Falls Over 6%

In contrast, Ether, the coin linked to the Ethereum blockchain and the second-largest cryptocurrency, fell more than 6% to $1,587. Meanwhile, dogecoin price was trading down more than 4% today at $0.06, while Shiba Inu also plunged almost 5% at $0.000012.

Current performance of other crypto prices also declined as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Avalanche, Tether, Polygon, Uniswap, Polkadot, Apecoin, Tron prices were trading with declines over the past 24 hours.

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“If the bears do not prove below the current level, we may see BTC testing the US$24,000 level in the coming days. The second largest cryptocurrency, Ethereum, managed to break its resistance at US$1,700 but could not hold it for long. It is likely that ETH will retest its support levels before recovering the US$1,700 level,” said Edul Patel, CEO and co-founder of Mudrex.

Despite choppy crypto markets, global digital asset funds saw net inflows totaling $474 million in July (through July 29), the highest so far this year, according to a manager report of CoinShares digital assets.

Crypto funds nearly offset all outflows in June, totaling $481 million. Bitcoin recorded inflows of $85 million last week. The majority of entries were from North America. Contributions from the United States and Canada amounted to $15 million and $67 million, respectively. Brazil and Sweden recorded minor exits.

Meanwhile, the Securities and Exchange Commission said on Monday it has indicted 11 people for their role in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised more than $300 million from retail investors around the world, including in the United States, reported by Reuters.

Several crypto companies either filed for bankruptcy or were forced to seek emergency capital injections. Rising interest rates and high-profile meltdowns like that of crypto hedge fund Three Arrows Capital have hit digital jets this year. Cryptocurrencies, such as bitcoin, rose in price in 2020 and 2021, but fell sharply this year.

(With agency contributions)

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