Crypto market in red, bitcoin price more than usd 83,620

Crypto market has volatility for the last few weeks. The biggest cryptocurrency Bitcoin was a slight decline on Monday in terms of market capitalization. In the US, the decisions related to the tariff of President Donald Trump and macro economic conditions are affecting this market.

International Crypto Exchange after this report is published Binance But the price of bitcoin declined by about 0.27 percent to about $ 83,630. The second largest cryptocurrency Ether had a loss of about 0.16 percent. The Ether was at $ 1,907 at $ 1,907. Apart from this, the prices of Tether, Ripple, Tron and Cardano are reduced. In the last one day, Crypto’s market capitalization declined by about 0.70 percent to about $ 2.75 million.

Market analysts say that bitcoin is trading in a low range. The $ 84,000 level for this most popular cryptocurrency is a major resistance and support for it is at $ 80,000. The resistance for Ether is at around $ 2,000. The US government is planning to hoard it to create a reserve of bitcoin. Apart from this, there is a preparation to bring regulations for this segment. Traders have decreased in the Crypto market and this has reduced the trading volume of cryptocurrency. However, improving the inflation in the US such as an increase in macro economic signals can lead to a boom in short-term.

There is a possibility of eTher and due to this, selling is increasing in it. Institutional Investors have reduced interest in spot exchange-traded funds (ETF). Recently, Trump organized the Crypto Summit at the White House. In this, the Crypto Task Force of the Securities and Exchange Commission (SEC) of the US was directed to make regulations related to this segment. At this Crypto Summit, Trump said that the Biden government’s decision to sell a large number of Bitcoin was “stupid”. He said that the US government would stop the bureaucracy fight against this segment. 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 has happened during the Biden government.”