Crypto prices lie flat as analysts debate whether market has finally hit bottom

Feb 4, 2022 By: BI India Bureau Credit: Canva

Crypto price movement has been subdued over the last 24 hours

The global market value has only risen by 0.34 percent since yesterday Credit: Canva

According to analysts, Bitcoin on-chain demand is now at peak oversold levels

The last time this occurred was in October 2020 Credit: Canva

The same was also seen at the bottom of the COVID crash

If the same trend holds true then this could be the end of the downtrend Credit: Canva

As things stand, Bitcoin has lost nearly 50 percent of its value from its all-time-high

The cryptocurrency had hit ₹51 lakh in November last year Credit: Canva

Currently, Bitcoin, is priced at ₹27.9 lakh

Its price is up by 1.23 percent in the last 24 hours Credit: Canva

Ethereum is trading at ₹2 lakh

Its price has risen by 0.65 percent since yesterday Credit: Canva

Binance Coin’s rate is at ₹27,757

It has climbed by 1.23 percent over the course of the day Credit: Canva

Cardano’s value stands at ₹78.87

It’s up by 2.42 percent since yesterday Credit: Canva

Meanwhile, Solana is priced at ₹7,664

After taking double digit hits over the past week, it’s now up by 4.74 percent since yesterday Credit: Canva

Terra’s LUNA token is trading at ₹3,776

The cryptocurrency has risen by 4.49 percent over the course of the day Credit: Canva

Polkadot’s value stands at ₹1,406

It’s up by 2.24 percent in the last 24 hours Credit: Canva

Avalanche is trading at ₹5,085

It’s up by 0.13 percent since yesterday Credit: Canva

Dogecoin is priced at ₹10.31

It’s the only leading player in red by 0.41 percent Credit: Canva

Disclaimer

These are top cryptocurrencies by volume according to Coinbase | Crypto prices in rupees updated as of February 4, 9:00 am IST and may change over the course of the day. Credit: Canva

Solana, Polkadot and Avalanche heaviest hit in the latest crypto market dip