BTC, ETH Hit With Losses as Overall Crypto Market Cap Drops by 0.86 Percent in 24 Hours

BTC, ETH Hit With Losses as Overall Crypto Market Cap Drops by 0.86 Percent in 24 Hours
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After registering continuous growth for at least five consecutive days, the crypto price charts reflected losses for most altcoins on Thursday, November 3. Bitcoin opened with a price dip of 0.86 percent, as per the crypto price tracker by Gadgets 360. In India, BTC price currently stands at $20,310 (roughly Rs. 16.8 lakh). The first every cryptocurrency also recorded losses on international exchanges. As per Coinbase and Binance for instance, BTC values are hovering around the price point of $20,338 (roughly Rs. 16.7 lakh) after meeting with losses of up to 0.90 percent.

Ether, in its conventional movement, followed Bitcoin into losses. With a value drop of 2.68 percent, ETH is currently trading at $1,545 (roughly Rs. 1.28 lakh), the crypto price tracker by Gadgets 360 shows.

“Nonfarm payrolls and unemployment rate figures that would be released shortly will give more clarity as to whether the FED would have enough leverage and data-backing to justify a 5th consecutive 75bps rate hike next month. Meanwhile, the crypto markets have also exhibited increased volatility,” said the research team by CoinDCX.

Most altcoins opened with losses today.

These include Binance Coin, Dogecoin, Ripple, Cardano, and Solana.

Polkadot, Shiba Inu, Tron, and Uniswap also witnessed price dips.

The overall crypto market cap decreased by 0.86 percent in the last 24 hours and the valuation stands at $1.01 trillion (roughly Rs. 83,67,357 crore).

Only a handful of cryptocurrencies opened with profits today.

These include stablecoins such as Tether, USD Coin, and Binance USD as well as Polygon, Avalanche, Litecoin, and LEO.