Over the weekend, Bitcoin dropped to $27,000 and Ether’s value decreased due to market uncertainty.

Bitcoin began trading on Monday, April 24, at a price of $27,727 (about Rs. 22.7 lakh).

Bitcoin’s value has not been able to hold after rising to over $30,000 (roughly Rs. 24.6 lakh) last week. The most expensive cryptocurrency experienced a significant price drop over the weekend. On Monday, April 24, Bitcoin began trading at a price of $27,727 (approximately Rs. 22.7 lakh). Bitcoin gained 0.68 percent and is now trading at around its current price. Bitcoin has fallen by $518 (roughly Rs. 42,510) in the two days since Friday, April 22. Ether and the vast majority of other altcoins have also suffered losses.

On Monday, Ether joined Bitcoin in the small-gains group. ETH, the second-most valuable cryptocurrency after Bitcoin, experienced a weekend decline from its price of over $2,000 (roughly Rs 16.4 lakh) from the previous week. Despite making a meagre 0.21 percent profit, Ether’s price remained low at $1,866 (or about Rs. 1.50 lakh).

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“Over the weekend, Bitcoin maintained its downward trend and entered a correction phase, resulting in a drop in investor confidence.” This could be due to macroeconomic and crypto-industry uncertainties that investors and traders were still considering. If the price falls from its current level, the next level of support would be $27,119 (roughly Rs. 22.2 lakh). Meanwhile, Ethereum has lost all of its gains from the Shanghai upgrade. Overall, the market appears to be bearish at the moment’, Edul Patel, CEO of the Mudrex crypto investment platform, told Gadgets 360.

Numerous alternative cryptocurrencies tracked the price movement of Bitcoin and Ether over the weekend, but they came into Monday with modest gains.

Tether, Binance Coin, USD Coin, Ripple, Solana, and Polkadot are a few of these.

Small gains were also recorded by Litecoin, Tron, Chainlink, Leo, Monero, and Stellar.

According to CoinMarketCap data, the overall crypto market valuation has dropped from $1.27 trillion (roughly Rs. 1,04,48,534 crore) last week to $1.17 trillion (roughly Rs. 95,82,750 crore) in the last few days.

“Key technical indicators showed a ‘buy’ sentiment for Bitcon,” WazirX Vice President Rajagopal Menon told Gadgets 360.

Meanwhile, a number of altcoins suffered losses on Monday. Cardano, Dogecoin, Polygon, Binance USD, and Shiba Inu are among them.