Crypto market in red, bitcoin price more than usd 87,400, ether declines more than 1 percent

On the publishing this report, the price of bitcoin on the International Crypto Exchange Binance was trading at around $ 87,470. The second largest cryptocurrency Ether had a loss of about 1.70 percent. The Easter’s price was around $ 2,030. Other declining cryptocurrency included Solana and XRP. Bitcoin’s share in the Crypto market has increased to about 60.72 percent. This most popular cryptocurrency crossed the $ 88,200 level in early trading. However, thereafter there has been a decline due to increase in selling.

Market analysts say that Bitcoin is getting more than $ 87,000 after a consolidation of about two months. Its market capitalization is about $ 1.73 lakh crore. There has been a decline in the Ether for the last three months. However, big investors have increased the purchase of the ether. Macro economic apprehensions are also affecting the crypto market. Recently, Trump organized the Crypto Summit at the White House. In this, the Crypto Task Force of the Securities and Exchange Commission (SEC) was also instructed to make regulations related to cryptocurrency.

At this Crypto Summit, Trump said that the previous Biden government’s decision to sell a large number of Bitcoin was “stupid”. He said that the bureaucracy fight against this segment would be abolished. Trump had reported, “In the last few years, the US government has sold thousands of bitcoins in an idiot manner, which was worth billions of dollars. It took place during the Biden government.” Earlier, Trump had also announced to create a reserve of cryptocurrency. However, this will not affect the crypto market as bitcoin will not be purchased for this reserve. This will include the bitcoins seized by the US government.