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Crypto market wrap: Altcoin price levels back in the red

By Monte Stewart


Crypto Chart
Altcoin price levels went back in the red on Wednesday as bitcoin declined and brought the rest of the cryptocurrency market down with it. - Photo: Getty Images

Altcoin price levels were back in the red Wednesday, one day after surging.

Bitcoin (BTC) declined to near $20,000, bringing the rest of the cryptocurrency market down with it.

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Shiba inu jumps and falls

Popular meme coin shiba inu (SHIB) jumped more than 20% overnight, Forkast reported, and managed to stay up 10% while most altcoins were down, according to Crypto Trends. But SHIB was down more than 3% during afternoon trading in North America, according to, as investors staged a sell-off to reap their profits.

But, even with the decline, SHIB was up more than 27% from a week earlier.


DOGE jumps and falls

Dogecoin (DOGE) also rose sharply in early morning trading activity before dropping in the afternoon. But the coin still posted a large week-over-week gain.

The struggling Celsius Network’s coin (CEL), AAVE, THETA, APE, helium (HNT) and axie infinity (AXS) were among the hardest hit as their declines reached double figures on a percentage basis. WAVES, a relative unknown, was down about 8% in afternoon trading in North America, according to CoinMarketCap data. On Tuesday, WAVES mushroomed about 44%.




67,463.15 Price
-0.540% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00


0.14 Price
-0.600% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872


0.62 Price
+2.960% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168


182.52 Price
-0.710% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

Bitcoin’s gains come to an end

Until Wednesday, BTC had enjoyed two straight days of gains after briefly falling to the $17,000 range – its lowest point since 2020 – on the weekend.

Potential danger zone

Investors and analysts regard the $20,000-$21,000 area as a potential danger zone that could prompt the world’s most valuable crypto asset to nosedive.

Pundits have predicted that a prolonged bitcoin stay below $21,000 could lead to a much deeper plunge as rapidly rising inflation and a US interest-rate increase hamper the crypto sector and conventional investment markets.

Ether (ETH), the world’s second most valuable digital coin, which is backed by the Ethereum blockchain network, took a harder hit than bitcoin on Wednesday, dropping roughly 8%.

Like SHIB and DOGE, several other altcoins experienced large weekly increases.

Markets in this article

Bitcoin / USD
67463.15 USD
-362.75 -0.540%
Shiba Inu / USD
0.00001843 USD
-0.00000044 -2.420%
97.793 USD
-2.977 -3.030%
0.8713 USD
-0.016 -1.880%
6.34 USD
-0.18 -2.830%

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Related reading

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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