Crypto Market in Loss, Bitcoin Price More Than UsD 96,000

Crypto market has volatility for the last few weeks. The biggest cryptocurrency in terms of market value is also a pressure of selling on Bitcoin. The price of bitcoin declined by about 1.20 percent to about $ 96,020 on Monday. Apart from this, many other cryptocurrencies were also declined.

On publishing this report, the second largest cryptocurrency ether was trading about 0.60 percent to more than $ 2,711. The prices of Cardano, Tron, BNB and Polygon have also increased. The fall cryptocurrency included Stellar, LiteCoin, Solana and XRP. In the last one day, Crypto’s market capitalization declined by about 1.43 percent to about $ 3.18 lakh crore.

Market Analysts say the next resistance for bitcoin is at $ 96,200. It may cause some speed when this level retained. Increasing the apprehensions regarding inflation in the US has also had a negative impact on the crypto market. Traders in the Ether are less than other cryptocurrencies. Ether has declined more than bitcoin. There is a resistance at $ 3,000 for this. Recently, the US Securities and Exchange Commission (SEC) had reported that a task force has been created for the purpose of creating a regulatory framework for the Crypto segment. The central government’s stand on cryptocurrency in India has been strict. The demand for banning cryptocurrency has been reiterated by the Reserve Bank of India (RBI).

Dubai’s Crypto Exchange Bybit has reported that it has paid a fine of more than nine crore rupees in India. The Financial Intelligence Unit (FIU) imposed a fine on Bybit for not following the rules. Along with this, this Crypto Exchange has registered with FIU. It is necessary to register with FIU for all crypto firms doing business in the country. Recently, bybit had informed its customers in the country that it is stopping his services temporarily. After this, FIU had said that this exchange did not follow the Prevention of Money Laundering Act (PMLA) and would have to pay a fine of about Rs 9.27 crore.