Bitcoin, which had surpassed $110,00, is currently trading at around $108,000. According to CoinMarketCap, a global cryptocurrency market tracking site, Bitcoin is trading at $108,498, down 1.03% compared to the previous day, as of 8:10 a.m. on the 12th. At the same time, the price of Ethereum has fallen 0.94% to $2766 compared to the previous day.
Bitcoin price fell on 12 December, extending declines from the previous session as a measure of New York Stock Exchange fell, turning traders bearish.
According to CoinMarketCap data, Bitcoin was trading at $108,498, down 1.03%, as of 08:10 ET (13:10 GMT). The world’s largest cryptocurrency had breached the $110,000 level on Thursday.
Bitcoin is now down about 10% from a 2023 high of $119,990 hit in early June. It is still trading more than triple from a year-to-date low of $32,968 touched in December 2022.
The next support level for Bitcoin is seen at $100,000, and a close below this level could open the way for more declines to $90,000.
On the other hand, resistance is seen at the 2023 high of $120,000, a breach of which could push Bitcoin towards the all-time high of $111,970.
At the same time, Ethereum fell 0.94% to $2,766, extending declines from the previous session. The world’s second-largest cryptocurrency is now trading at a 3-week low.
Etherum is still up more than 100% for the year, and it hit a 2023 high of $3,000 in May. The next resistance level for Ethereum is seen at $3,300, a breach of which could take it towards the all-time high of $3,872.
But overall cryptocurrency market capitalization fell to $5.07 trillion, while the total cryptocurrency trading volume for 24 hours was reported at $89.87 billion.
