crypto companies spent millions of dollars on advertisements for the super bowl on sunday a first foray for the buzzy digital assets industry but all that money and exposure during an annual faceoff that in the past has attracted more than 100 million viewers didn’t help lift the price of the largest cryptocurrency on monday the cryptocurrency bitcoin btcusd recently was trading at around 42186 down 02 over the past 24 hours and about 39 below its alltime high of 68991 in november according to coindesk data this super bowl featured cryptorelated ads sponsored by companies such as exchanges ftx cryptocom coinbase coin  bitbuy and stock and crypto trading platform etoro a 30second spot for an ad could cost as much as 7 million this year according to nbc some industry enthusiasts hoped that the ads would attract new investors while also boosting bitcoin’s battered price that doesn’t seem to be the case for now “given all the headwinds affecting retail wallets they the ads alone may not be enough to lift the markets should inflation and price corrections in equities reduce the aggregate pool of capital deployable in crypto markets” ra farrokhnia professor at columbia business school wrote to marketwatch in an email however the commercials could still help raise awareness farrokhnia said bitcoin’s support currently sits near 374k “a level that we think may ultimately be retested” katie stockton managing partner of fairlead strategies wrote monday in a client note the us stock market djia closed lower on monday with the sp 500 index spx down for three session in a row as investors kept an eye on rising tensions between russia and the us over ukraine while also worrying about inflation and the federal reserve’s plans to tighten monetary policy read more super bowl crypto ads qr code or larry david here’s how social media reacts