Crypto Price Today: Bitcoin falls below $23,500; Polygon, Solana shed up to 4%

economictimes.indiatimes.com:

cryptocurrency markets were trading lower on Tuesday. Bitcoin (BTC) fell 0.31% to $23,435, whereas Ethereum (ETH) was below the $1,650 level. BTC volume in the last 24 hours stood at approximately $22.28 billion, rising 29.46% in the last 24 hours. «On Monday, most cryptocurrencies declined after the release of the US Durable Goods Orders data for January. The data showed a 4.5% drop, causing concern among investors and traders about the possibility of inflation and interest rate hikes, despite strong economic data for the same period,» Edul Patel, Co-founder and CEO of Mudrex, said. Other top crypto tokens were also trading lower on Tuesday. Polygon declined by 3.5%. Solana, Polkadot, Shiba Inu, and Litecoin were also trading lower. The global cryptocurrency market cap was trading lower around $1.07 trillion, falling 0.45% in the last 24 hours. The total volume in DeFi is currently 5.06 billion, 11.17% of the total crypto market 24-hour volume. The volume of all stablecoins is now $40.53 billion, which is 89.48% of the total crypto market 24-hour volume.

Did you Know?

SAP has launched a new enterprise on the Metaverse with the aim of accelerating cloud adoption among Indian firms. The interactive and immersive ‘cloud on wheels’ platform will enable customers to experience the full range of SAP’s offerings and reimagine processes for improved business outcomes.

The market cap of Bitcoin, the world's largest cryptocurrency, was around $452.4 billion. Bitcoin’s dominance is currently 42.29%, an increase of 0.09% over the day, according to CoinMarketCap. «Bitcoin struggled to break the significant $23,750 resistance level. The closing of the candles below this level led to a bearish correction, potentially