Crypto Price Today: Bitcoin Falls Below $40,000, Small Gains Seen by Tether, USD Coin

On Tuesday, Ether saw a 4.04 percent decline. When this article was written, the price of ETH was $2,336 (about Rs. 1.94 lakh). In the past day, the price of ether dropped by $81 (about Rs. 6,730).

For the first time in fifty days, Bitcoin fell below $40,000 (approximately Rs. 33 lakh) as the Bulls were unable to maintain the support line. Those new investors who made large investments during the spot ETF announcement are currently sitting at nearly a twenty-five percent loss. During the late hours of US Monday trading, altcoins also experienced a deep red decline as concerns about ETH falling below the $2,000 (roughly Rs. 1.66 lakh) mark resurfaced in the markets. The Ethereum Foundation's sale of 700 ETH for about $2,400 (about Rs. 1.99 lakh) each served as the catalyst for this. Such token foundation sell-offs typically indicate a local peak, which may have occurred prior to the Bitcoin halving.After a tremendous bull run, the cryptocurrency market is currently experiencing a healthy retreat. As ETFs increase their AUM and encourage widespread adoption of the biggest digital asset in the world, we might witness a more stable Bitcoin. The CEO of BuyUcoin, Shivam Thakral, told Gadgets360, "Top Trader Henrik Zeberg shared a new Bitcoin price prediction of $120,000 (roughly Rs. 99.7 lakh). However, we will have to wait and see how the market moves in the coming weeks."