On the Tuesday of November 14, Bitcoin stepped into the trading with a moderate loss of 1.25%. Despite this dip, the influence on BTC's enduring price threshold remained confined.
At this point, the Bitcoin stood at a valuation of $36,456 (roughly Rs 10,333,227).
Delving into the factors contributing to the present-day setback, Bitcoin underwent a dip of $623 (around Rs 176,585) over the past 24 hours.
Ethereum, conversely, exhibited a slight increase in price by 0.42% on Tuesday, with the present value resting at $2,052 (about Rs 581,626). Within the last day, Ether's value saw an up tick by $3 (approximately Rs 850).
The majority of alt coins trailed the footsteps of Bitcoin, incurring losses. The market's volatility is ascribed to impending data disclosures from the US, slated for later in the day.
The disclosure of US Consumer Price Index (CPI) figures (monthly and yearly) today is anticipated to have an impact on BTC prices.
Positive data has the potential to propel prices upward, whereas adverse data might precipitate a decline in cryptocurrency valuations.
Evidently, Tether, Binance Coin, USD Coin, Solana, Cardano, Dogecoin, and Tron recorded losses today.
Price downturns also affected Chainlink, Polkadot, Wrapped Bitcoin, Avalanche, Litecoin, and Shiba Inu, among other cryptocurrencies.
After a stretch of four weeks marked by unwavering green candles, BTC appears to be entering a phase of moderation.
It's noteworthy that the market witnessed four consecutive weekly green candles only once this year, in January, succeeded by a pronounced correction.
However, given the rising trend in the medium term, traders are gravitating towards extended positions, envisioning prospective profitability.
In the past 24 hours, the overall cryptocurrency market valuation fell by 0.66%, presently settling at $1.4 trillion, as per CoinMarketCap.
Concurrently, alongside Ether, digital currencies like Polygon, Bitcoin Cash, Elrond, Iota, and Ardor successfully notched gains today.
