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    Major cryptocurrencies fall for third straight day amid mixed trends in global markets

    Major cryptocurrencies fall for third straight day amid mixed trends in global markets

    Major cryptocurrencies fall for third straight day amid mixed trends in global markets
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    By Asmita Pant   IST (Published)

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    Bitcoin, was trading a percent lower at $22,765.8. Bitcoin's market capitalisation was at $435.83 billion, while the trade volume was at $28.74 billion in the past 24 hours.

    Major cryptocurrencies extended losses on Wednesday amid similar trends in global markets.
    The world's most popular and largest cryptocurrency, Bitcoin, was trading a percent lower at $22,765.8. Bitcoin's market capitalisation was at $435.83 billion, while the trade volume was at $28.74 billion in the past 24 hours.
    A WazirX analyst said, "The 4-hourly trend for BTC continues to traverse within an ascending channel pattern. The chart had bounced from the top of the trend line towards the lower side, and we could expect this downwards momentum to continue for a few more days before the trend reverses again. The next key resistance level for BTC is expected at $32,300, and the next support is expected at $19,000."
    Second-largest virtual currency, Ether, was flattish at $1,603.8 with a market capitalisation of $196.1 billion. The trade volume of Ethereum was $20.7 billion in the last 24 hours.
    "The global crypto market started this month with a correction. Bitcoin slides below US$23,000 on Tuesday with increased selling pressure. However, since BTC has been trading sideways this week, it might be able to extend its gains soon," said Edul Patel, CEO and Co-Founder of Mudrex.
    On the other hand, Ethereum has bounced off its support level at US$1,500 and is trading above the US$1,600 level. He added that if buyers can hold it there, we might see ETH rising towards the 1,700 zone in the coming hours.
    Meme crypto Dogecoin was 2.7 percent down with a trading volume of $351.6 million in 24 hours. Shiba Inu was trading 1.1 percent lower at $0.000012 while Solana was 4.6 percent down at $38.8 billion.
    Indian headline indices opened in green on Wednesday.

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