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Altcoins Mirror Bitcoin’s Turbulent Conditions Despite a Modest Downturn

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Altcoins Mirror Bitcoin's Turbulent Conditions Despite a Modest Downturn

(CTN News) – On Tuesday of November 14, Bitcoin entered the trading market with a modest loss of 1.25% when it entered into the trading market. In spite of the dip, the influence of this dip on BTC’s enduring price threshold remained limited despite this dip.

As of this point, Bitcoin stood at a valuation of $36,456 (approximately Rs 10,333,227) at the time of writing.

Taking a closer look at the factors contributing to the current setback, Bitcoin registered a fall of $623 (around Rs 176,585) over the past 24 hours as a result of numerous factors.

The price of Ethereum, on the other hand, showed a slight increase of 0.42% on Tuesday, with the present value remaining at $2,052 (about Rs 581,626) despite the slight bump in price. Over the past day, Ether’s value has seen an increase of $3 (approximately Rs 850) in price.

Most altcoins have been following Bitcoin’s footsteps and have suffered losses as a result. The market’s volatility is being attributed to the impending disclosure of data from the US, which is expected later in the day.

BTC prices are expected to be affected by the upcoming disclosure of US Consumer Price Index (CPI) figures (monthly and yearly) that will be released today.

In the case of positive data, cryptocurrency prices have the potential to rise, whereas in the case of adverse data, cryptocurrency prices are likely to decline.

Today, Tether, Binance Coin, USD Coin, Solana, Cardano, Dogecoin, and Tron were all recorded as having losses.

Among other cryptocurrencies, Chainlink, Polkadot, Wrapped Bitcoin, Avalanche, Litecoin, and Shiba Inu have also been affected by price declines. In the wake of 4 weeks of unwavering green candles,

Bitcoin appears to be entering a phase of moderation following a stretch of unwavering green candles.

The market has only seen four consecutive weekly green candles once this year, in January, and was then followed by a pronounced correction at the end of February.

The rising trend in the medium term, as well as the forecast of potential profits in the near term, has resulted in traders becoming more inclined as a result to take extended positions as a result of the rising trend in the medium term.

It has been reported by CoinMarketCap that the overall cryptocurrency market valuation has fallen by 0.66% in the last 24 hours, settling at $1.4 trillion as per CoinMarketCap, showing a fall of 0.66% over the last 24 hours.

Furthermore, alongside Ether, other digital currencies like Polygon, Bitcoin Cash, Elrond, Iota, and Ardor have also recorded gains today.

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October Retail Inflation India Eases To a Four-Month Low

Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

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