Crypto crash again? Top cryptocurrency prices fall upto 12% after 3-day rise, trading volume declines

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Top cryptocurrency prices today (21 July): After rising for three consecutive days, prices of several top cryptos have declined in the last 24 hours. The global crypto market cap continues to remain over the psychological $1 trillion level while the prices of top two coins – Bitcoin (BTC) and Ethereum (ETH) – have dropped up to 5%. 

The global cryptocurrency market cap declined by 3.5% to $1.02 trillion in the last 24 hours, according to CoinMarketCap data at the time of writing (11.21 am, India time). The total crypto market volume over the last 24 hours was $97 billion. 

Bitcoin (BTC) dominance increased by 0.62% to 42.68% while ETH dominated 17.7% of the total crypto markets. BTC price has decreased by 2.45% in the last 24 hours. At the time of writing, BTC was trading at $22,916. In the last 7 days, BTC price has increased by 14%.

“Bitcoin continued its upward momentum and crossed the $24,000 level before dropping back below $23,000 as news of Tesla selling off almost 75% of its Bitcoin holdings came in. The sentiment towards Bitcoin kept improving and is at its highest level since mid of April, 2022. On the daily time frame, the BTC trend had earlier broken out of the descending triangle pattern and continues to remain above the pattern, even after a minor dip in prices. The next key resistance level for BTC is expected at $32,300,” analysts at WazirX Trade Desk shared in a note.

BTC touched a one-month high of $24,265 this week while trying to climb above its 50-day simple moving average (SMA). Experts say that BTC price near the key moving average could be a reliable indicator of trends in the medium trends. However, a strong buy momentum is required to keep the prices up. 

“Bitcoin and Ethereum rallied for another consecutive day on Wednesday, reaching US$24,000 and US$1,600, with bulls dominating the market. However, both the cryptos have been seen to be running slightly lower early this morning than the previous day,” Edul Patel, co-founder and CEO of Mudrex, a crypto investing platform, said.  

“If bulls can maintain consistency and hold above the current level, we might see BTC rise from US$27,000 to US$32,000 in the coming days. If not, we might see BTC fall back to US$21,000. Similarly, if bulls can hold ETH above US$1,500, we might see it reach US$1,700. If not, it may fall back below the US$1,400 level,” he added. 

Crypto Rupee Index Change

Crypto Rupee Index (CRE8) by CoinSwitch fell  4.45%  in the last 24 hours to Rs 2760 at the time of writing. CRE8 tracks crypto market performance in INR. 

Top Crypto Prices on July 21

Ethereum (ETH): Ethereum price decreased by around 4.83% to $1492 in the last 24 hours. In the last 7 days, ETH price has increased by over 35%. It is currently ranked as the 2nd largest crypto asset.

Binance (BNB): Binance Chain coin’s price decreased to $255, falling 5.3% in the last 24 hours. In the last 7 days, BNB price has increased by over 10%. It is currently ranked as the 5th largest crypto asset.

ALSO READ | Crypto Trade Volume Jumped Over 100% on WazirX, CoinDCX and ZebPay This Week: Data

XRP: XRP coin’s price decreased by 5.1% to $0.3584 in the last 24 hours. In the last 7 days, XRP price has increased by nearly 11%. It is currently ranked as the 7th biggest crypto. 

Solana (SOL): Solana price fell 10% to $40.87 in the last 24 hours. In the last 7 days, SOL price has increased by nearly 19%. It is currently ranked as the 9th biggest crypto asset.

Cardano (ADA): Cardano token’s price decreased by 8.48% to $0.4868 in the last 24 hours. In the last 7 days, ADA price has increased 13%. It is currently ranked as the 8th biggest crypto asset.

Dogecoin’s (DOGE) price decreased by 3.89% in the last 24 hours. DOGE is currently ranked 10th. The price of DOGE at the time of this report was $0.06854.

Price of Polkadot (DOT) decreased by 8% in the last 24 hours to $7.31. Avalanche (AVAX) price decreased by nearly 9.35to $23.29 in the last 24 hours. Both DOT and AVAX are currently ranked 11th and 14th respectively on CoinMarketCap. 

Polygon (MATIC) price decreased by around 12% to $0.836 in the last 24 hours. In the last 7 days, MATIC price has increased by around 30%.  It is currently ranked 13th on CoinMarketCap. 

Shiba Inu (SHIB) decreased by 5.48%  in the last 24 hours to $0.00001179. It is currently ranked 15th on CoinMarketCap. 

(Cryptos and other virtual digital assets like NFTs are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)