BTC, ETH Open New Week With Losses, Several Altcoins Trail Along

Unlike last year in November, when the crypto markets soared to attain the market cap of three trillion dollars, this year seems to be lacklustre. On November 7, Monday, Bitcoin opened trading with a loss of 1.34 percent. As per the crypto price tracker by Gadgets 360, Bitcoin is trading at $20,922 (roughly Rs. 17 lakh). Even on international exchanges, Bitcoin met with dips of up to 1.15 percent while maintaining similar price points.

Ether also found itself having tumbled down the price ladder like Bitcoin on Monday. With a loss of 2.19 percent, ETH is trading at $1,581 (roughly Rs. 1.30 lakh), as reflected by Gadgets 360's crypto price tracker.

The market volatility has impacted majority altcoins with losses today.

These include Binance Coin, Ripple, Dogecoin, Solana, Cardano, Polkadot, and Shiba Inu.

Meanwhile, only a small number of cryptocurrencies managed to see gains today.

Profit-making altcoins include Tether, USD Coin, Binance USD, Polygon, and Litecoin.

The global crypto market cap dropped down by 2.08 percent in the last 24 hours.

As per CoinMarketCap, the global crypto market cap stands at $1.03 trillion (roughly Rs. 84,91,239 crore).

“Polygon's Matic remained one of the best-performing altcoins over the past week. It has been riding on top of different partnerships. With most of the altcoins showing good moves and Bitcoin dominance staying below the 40% mark, we can likely witness an altcoin rally soon. The total crypto market cap remained above the $1 trillion mark, with trading volumes remaining low over the weekend,” Edul Patel, CEO and co-founder of Mudrex crypto investment platform told Gadgets 360.

In the backdrop of the market fluctuations, global exchanges such as Coinbase and Robinhood recorded slips in user activities and crypto-generated revenues.

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