Cryptocurrency prices varied today, Tuesday, and the price of “Bitcoin” rose after a sharp decline recorded yesterday, Monday, due to threats from the “US Central Bank.”
The price of Bitcoin had increased by about 60% over the past year to outperform other financial assets, amid reports about its importance in resisting inflation and its role in diversifying investments and adopting financial institutions for it, but it has faced problems in recent weeks in light of the turmoil of financial markets.
Many investors lost the appetite for investing in high-risk assets, especially digital currencies, with the decision of Jerome Powell, the Federal Reserve Chairman (the US central bank) approaching to raise interest rates sooner than expected.
Investors are now awaiting inflation data due on Wednesday. The data is expected to show the core US CPI rose to a multi-decade high to 5.4% in December, from 4.9% the previous month.
The market value of cryptocurrencies decreased during early trading today, Wednesday, by 0.70%, to reach $1.96 trillion, and the volume of trading during the last 24 hours recorded about $104.79 billion.
Cryptocurrency rates today
Bitcoin BTC rose 0.45% to $4,2171.71.
The price of the Ethereum coin (ETH) fell 1.58% to $3113.87.
The price of the Binance coin BNB decreased by 1.83% to reach $434.77.
The price of the cardano ADA coin lost about 1.56% to record $1.15.
XRP fell 0.73% to $0.7484.
The price of the Polkadot DOT coin also plunged 3.54% to $24.08.
DOGE (Dogecoin) lost 4.62% to $0.1447.
The price of Litecoin (LTC) fell 1.42% to reach $128.95.
The price of Chainlink LINK coin fell 1.33% to $27.58.