The cryptocurrency market paints a complex picture again today. While Bitcoin (BTC) and many important altcoins remained stable, names such as Solana (SOL) and Pepe Coin (PEPE) gained value. Render (RNDR), Injective (INJ) and NEAR Protocol (NEAR), which are artificial intelligence-focused coins, were also among the rising names. The overall cryptocurrency market value decreased by 0.49 percent to $2.32 trillion, from $2.34 trillion recorded yesterday. The transaction volume in the last 24 hours decreased by 3.89 percent to 66.21 billion dollars.
Bitcoin price and ETF outflows attracted attention
According to CoinMarketCap data, Bitcoin price has lost 0.66 percent since yesterday and is currently trading at $64,275.17. In the last 24 hours, the lowest level was 63,378.89 dollars and the highest level was 64,705.90 dollars. Information provided by Farside Investors reveals that Bitcoin ETFs recorded outflows of $105.9 million on June 21. This situation may increase Bitcoin’s volatility in the coming period. Bitcoin’s dominance is at 54.05 percent, with a decrease of 0.17 percent.
It is also a noteworthy detail that the weekly outflows took place over 4 trading days and that the markets were closed due to the Juneteenth holiday on June 19. The lowest daily outflow was recorded as $105.9 million on Friday, June 21. Significant withdrawals of funds from Bitcoin ETFs are causing concern among market analysts and investors.
This, along with weakness in Bitcoin’s trading volume and price, makes its short-term outlook uncertain. Changes in investor sentiment could lead to further declines in prices. Well-known crypto analysts such as Rekt Capital predict that Bitcoin may fall further in the coming days. Analysts argue that Bitcoin may experience an additional decline in June, but this decline will be followed by a recovery and rally.
There is optimism in other altcoins
Ethereum price has been quite volatile in the last 24 hours. ETH, which lost 0.03 percent of its value at the time of writing, is currently traded at $ 3,503.83. In the last 24 hours of activity, it reached the lowest level of 3,447.94 dollars and the highest level of 3,543.03 dollars. Despite the recent transfers made by big whales to the exchanges, ETH remains resistant, remaining above $ 3,500.
SOL price is on the rise, contrary to the general market trend. SOL, which gained 1.92 percent in value, is currently trading at $ 134.99. SOL, which has entered an optimistic atmosphere due to the launch of QSOL ETP in Canada, differs from other coins. Additionally, after the Ripple case was brought before the magistrate, the XRP price remained flat. XRP is currently trading at $0.4872, down 0.31 percent. In the last 24 hours of activity, the lowest reached $ 0.48 and the highest reached $ 0.4949.
DOGE, SHIB rising
Dogecoin (DOGE) price gained 0.26 percent at the time of writing, rising to $0.1242. Shiba Inu (SHIB) price decreased by 0.02 percent to $0.00001798. However, a significant bullish trend is visible in SHIB on the hourly chart. Interestingly, Pepe Coin was among the highest-earning coins of the day. The other coins that rose the most are as follows:
- Arweave (AR) price increased by 8.75 percent and reached $27.86.
- Pendle (PENDLE) price increased by 4.26 percent to $6.09.
- Render (RNDR) price increased by 3.03 percent to $7.65.
- Injective (INJ) and NEAR prices also gained approximately 3 percent.
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