On Tuesday, December 22, the largest cryptocurrency by market cap briefly slides below the $23,000 mark. As of press time, bitcoin (EXANTE: Bitcoin) is trading at $22,562 (-5.91%).
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Chart of the USD/BTC trading pair from EXANTE
For its part, Ethereum has declined by -7.91% down to $593.79. XRP lost the most (-19.24%) and is now trading at $0.456. The total cryptocurrency market cap is over $628 billion.
FxPro's team of analysts say that institutional investors have a strong influence on the price dynamics of the crypto market, which is why there is slight rotation of assets.
"Altcoins are demonstrating more dramatic declines as there are more impulsive retail investors in the sector," the analysts added.
iHodl earlier reported that cryptocurrency exchange EXMO suspended all withdrawal operations as it had detected some large withdrawals from its hot wallets since December 21st at 2:27:02 UTC.
EXMO lost the following digital currencies: BTC, XRP, ZEC, USDT, ETC and ETH in EXMO. The unknown hacker managed to get access to the exchange's hot wallets and withdraw near 5% of the total assets.
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