Cryptocurrency prices today: Bitcoin, Ether fall sharply amid heavy profit booking

Cryptocurrency prices fell sharply on Wednesday following heavy profit booking. Check the latest cryptocurrency prices and trends.

Cryptocurrency prices fell sharply on Wednesday. (Photo: Reuters)

The cryptocurrency market witnessed a decline over the past 24 hours as the value of popular virtual coins fell sharply. The reason behind the decline was heavy profit bookings by investors.

Bitcoin, the largest cryptocurrency, fell on Wednesday to the lowest in a week and a half after reaching an all-time high. However, the popular cryptocurrency is still on track for its best month since February.

It’s price was $58,867 or 6 per cent lower than its value 24 hours ago at 3:40 pm. Bitcoin’s market capitalisation fell to $1.11 trillion and the 24-hour trading volume fell to $1.84 billion.

Tony Sycamore, analyst at Australian investment platform City Index told news agency Reuters that Bitcoin’s losses were down to traders taking profit from its recent rally.

Cryptocurrency highlights | Check yesterday’s prices

Ether also fell sharply by nearly 4.7 per cent after gaining for more than a week. Ether remained just above $4,000 or 4.68 per cent lower than its value 24 hours ago. Ether’s market capitalisation fell to $470.38 billion and the trading volume of the past 24 hours was $1.83 billion.

Most other altcoins also fell sharply during Wednesday’s session as investors looked to book profits after the recent rally.

Commenting on the momentum, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, “Over the past 24 hours we saw the markets remaining in a range bound territory. Bitcoin fell marginally and with it, dominance also came down.”

“The coming 24 hours would likely be a positive session for the altcoins,” he added.

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap

Volume (24 Hours)

Bitcoin

58,792.64

-6.39%

$1.19 trillion

$1.12 billion

Ether

4,001.11

-5.03%

$469.96 billion

$1.83 billion

Dogecoin

0.234013

-13.20%

$30.82 billion

$3.39 billion

Litecoin

181.31

-7.10%

$12.48 billion

$148.58 million

XRP

1.01

-10.06%

$100.85 billion

$5.54 billion

Cardano

1.94

-10.84%

$63.08 billion

$332.39 million

DISCLAIMER: The cryptocurrency prices have been updated as of 04:00 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.

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