As crypto investors prepare for Wednesday’s release of US inflation statistics, the price of bitcoin fell, wiping out all the gains from the previous session and breaking a four-day winning streak. Bitcoin, the biggest and most well-known cryptocurrency, was trading 4% lower at $22,863. Despite falling more than 3% in the previous day to $1.13 trillion, the total value of all cryptocurrencies was above the $1 trillion threshold today, according to CoinGecko.
The second-largest cryptocurrency, Ether, connected to the Ethereum network, increased by about 6% to $1,675.
While Shiba Inu fell by about 3% to $0.000012, Dogecoin’s price today was trading more than 3% lower at $0.06.
Other cryptocurrency values have also performed poorly today, with prices for XRP, Solana, BNB, Litecoin, Chainlink, Tether, Polkadot, Tron, Avalanche, Stellar, Apecoin, Uniswap, and Polygon all trading at lower levels compared to the previous day.
Despite Tuesday’s decline, Bitcoin has recently experienced a rise after months of decline as it finally broke through several highly observed price marks. The crypto asset that serves as a leading indicator has been trading at around $23,000 since July, when it had its best month since October.
While this is happening, Asia’s Zipmex Pte cryptocurrency exchange will start this week, allowing customers to partially withdraw Bitcoin and Ether from their trading accounts, offering some solace to those affected by the recent collapse in the market for digital assets.
Users can withdraw a portion of their Ether and Bitcoin from Zipmex’s Z Wallet starting on August 11 and August 16, respectively. Zipmex stopped allowing withdrawals in July due to a lack of liquidity.