- Bitcoin dips to $65,374, a 0.68% decrease, with trading volume spiking 102%.
- Ethereum falls 3%, Solana drops 9.25%, amid broad crypto market decline.
- XRP climbs 1.27% despite overall market downturn, showing resilience.
Today the cryptocurrency markets experienced a noticeable downturn. Bitcoin, the leading digital currency, declined to $65,37498, marking a decline of 0.68% from the previous day. Its trading range for the day stretched from a low of $64,59725 to a high of $67,25208, underscoring the volatility within the market.
Consequently, Bitcoin’s market cap now stands at $1.3 trillion with a trading volume surge of 102% to 36.24B in the last day.
BTC/USD 24 Hour Chart (Source: CoinMarketCap)
Moreover, Ethereum mirrored this decline, falling 3% to reach a trading price of $3,430.15 at press time. Over the past 24 hours, Ethereum fluctuated between $3,373.71 and $3,568.25. This dip contributed to its market cap which is currently declined to at $421 billion.
Other major altcoins also felt the pressure with Solana, for example, seeing a substantial reduction of 9.25% in its value, trading at $134.26. Similarly, the meme coins sector, including popular names like Dogecoin and Shiba Inu, followed the downward trend with declines of 9.74% and 12.12% respectively.
However, amidst the widespread red, XRP managed to buck the trend by posting a slight gain of 1.27%, trading at $0.5034 at press time. This resilience comes as a breath of fresh air to investors in a day marked by overall declines.
Market Overview
Overall, the global crypto market cap saw a decrease of 3.14% to $2.35 trillion, even though trading volumes surged by 104.01% compared to the previous day, totaling $94.07 billion. This increase in volume indicates significant market activity, as investors possibly repositioned in response to the latest market movements or took advantage of the lower prices to buy.
The day’s trading underscored the volatile nature of the cryptocurrency market, with major tokens shedding value amid broader economic concerns influenced by recent decisions from the U.S. Federal Reserve. While most of the market saw red, the slight gains by XRP suggest a selective appetite among investors for assets perceived as potentially stable or undervalued.
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