Bitcoin prices hit a low of હજાર 31,000: the worst performance in four weeks

The downturn in the cryptocurrency market slowed

Unemployment claims fall to 16-month low in US, likely to push inflation higher

MUMBAI: The world market for cryptocurrencies was on a downward spiral today as the decline in prices slowed down and the market was seen stabilizing. This week's retreat in Bitcoin is the biggest weakness in four weeks, market analysts said.

There was news that the job market was getting stronger again as unemployment claims fell in the US. The global dollar index rebounded and the bond and treasury yields were also on the rise. This had an impact on the cryptocurrency market. Bitcoin prices today ranged from a high of 20 32,051 to 5 32,052 and a low of 0 31,045 to 0 31,046 from 31 31,894 to 8 31,895.

Bitcoin today had a trading volume of 24 24 to 25 25 billion and a market cap of 59 598 to 99 599 billion, market sources said. Meanwhile, jobless claims in the US fell from 3 lakh 86 thousand to 3 lakh 60 thousand, with such claims falling to a 16-month low. Experts were counting on inflation to rise further as the job market strengthened there.

It was also reported today that the Chinese government has begun serious efforts to boost its digital currency, with કર 5.30 billion worth of trial runs in the first phase of such a currency.

Meanwhile, in other cryptocurrencies, the price of ether today ranged from 196 1965 to 6 1966 and from 185 1851 to 2 1852 to 4 1904 to 5 1905. Ether traded between 17 billion and 18 18 billion today and had a market cap of 2 222 billion to 3 223 billion. In the ARP, prices were 61 to 62 cents higher and 58 to 59 cents lower and 59 to 60 cents lower today.