Bitcoin Plunges 1.75%, Litecoin Surges 5.28% Intra-day, See Market Trend

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oi-Kuntala Sarkar

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The cryptocurrency market is globally down today. On September 2, at 5.55 pm UTC, Bitcoin fell by 1.75%, and was quoted at US$ 19,793.50, in the intra day trading. Yesterday, Bitcoin closed at US$ 20,146. In the last 5 days, Bitcoin surged only by 1.14%, and in the past 1 month, it has dropped sharply by 13.92%. Additionally, in the past 6 months, its performance has been quite bearish, falling by 54.93%.

Bitcoin Plunges 1.75%, Litecoin Surges 5.28% Intra-day, See Market Trend

Other major cryptocurrencies are showing a mixed trend today. Ethereum was quoted at US$ 1,585.29, down by 0.13%. Yesterday, Ether closed at US$ 1,587.39. Litecoin was quoted at US$ 60.66, up by 5.28%, Dogecoin was quoted at US$ 0.0611 down by 2.16%, and Cardano was quoted at US$ 0.4553 down by 0.53% today, till last traded.

“Out of the total addressable market of ether and bitcoin futures, ether now commands 57% compared to 45% on August 1. Open interest – or the number of unsettled futures contracts – has ballooned to over $8.43 billion this week from under $4 billion in July, data shows. This suggests that in the past few weeks ether prices have been pushed upwards due to the high use of leverage,” commenting on the crypto market, a CoinDesk report mentioned.

Globally stock markets are also down today. S&P 500 fell by 0.92%, stood at 3,930.38, and Nasdaq Composite fell by 1.32%, stood at 11,629.12, at the time of writing. US Dollar index today stood at 109.58, at 2:06 PM EDT.

Story first published: Friday, September 2, 2022, 23:40 [IST]


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