Crypto Market in Pressure, Bitcoin Price less than USD 56,600, Solana, Ether, Litecoin

There has been volatility in the crypto market for the last few weeks. The price of Bitcoin, the largest cryptocurrency in terms of market capitalization, has fallen between 1.06 percent to about 2.03 percent on Indian and international exchanges. Its price was around $56,530 on international exchanges and around $60,353 on Indian exchanges like CoinDCX.

Ether’s price has also fallen by about one percent. According to Gadgets360’s crypto price tracker, Ether It was trading at around $2,550. Its price on international exchanges was around $2,378. Apart from this, there was a decline in Solana, Near Protocol, Bitcoin Cash and Polygon. Profiting cryptocurrencies included USD Coin, Cardano, Polkadot, Litecoin and Bitcoin SV. In the last one day, the market value of crypto was down by about 0.88 percent to around $1.99 trillion.

The team at crypto app CoinDCX told Gadgets360, “The crypto market is volatile as traders await data on the US unemployment rate. Bitcoin price is trying to break the support at $56,000 and is trading in a range. The resistance for Bitcoin is at $61,600. If it goes below $56,000, the decline may increase. Prices of most cryptocurrencies are falling and they look weak.”

The US Federal Bureau of Investigation (FBI) has warned that attacks by North Korean hackers on the crypto segment have increased. Last month, hackers targeted Indian crypto exchange WazirX. There are reports of North Korean hackers being involved in this case as well. In this case, funds worth about $230 million were stolen from WazirX. The crypto market was also affected by this case. This raised questions about the strength of security in crypto exchanges. The FBI has said, “Hackers search for their victims through their activity on social media. After this, the victims are trapped in various ways.” To avoid these hackers, the FBI has advised not to store information related to login, password and private keys of cryptocurrency wallets on devices connected to the Internet.