Cryptocurrency Market Falls with Bitcoin Price
Bitcoin price is trading at $97,082 and is down 2% in the last 24 hours. It reached a daily high of $100,358. With a market cap of $1.92 trillion, BTC maintains a market dominance of 55.71%.
In ETF activities, Fidelity’s $175 million inflow, while ARK and Bitwise’s $34 million and $39 million outflows respectively, are noteworthy. Data on the BlackRock ETF has not yet been announced. In addition, as we reported at Kriptokoin.com , a Russian MP’s proposal to create a Bitcoin reserve has once again brought the strategic importance of Bitcoin to the agenda.
Ethereum and XRP: Major Drops
Ethereum (ETH) is trading at $3,691, down 7%. The price fluctuated between $3,523 and $3,954 during the day. ETH is the second largest player in the crypto market with a market cap of $445 billion. ETF inflows remained at $5.6 million. However, BlackRock’s ETF data was not disclosed.
XRP, on the other hand, has lost 16% in the last 24 hours, falling to $2.08. It has exhibited great volatility with a market value of $119 billion and a trading volume of $20 billion. While these fluctuations attract the attention of XRP investors, the general trend of the market is also worrying.
Huge Drop in Meme Coin Projects
Meme coins were also affected by the market decline. Dogecoin (DOGE) fell 14% to $0.3878, while Shiba Inu (SHIB) lost 19% to $0.00002524. Popular meme coins such as PEPE, WIF, and BONK lost between 15% and 25%. The meme coin sector felt the impact of weak investor confidence in the market.
Losers and Winners in the Cryptocurrency Market
UNUS SED LEO (LEO) was among the winners today, up 2%. Trading at $9.50, LEO remained stable compared to the broader market. On the other hand, GALA was the worst performer, down 25% to $0.0443. Worldcoin (WLD) was another big loser of the day, down 23% to $2.80.
The cryptocurrency market is generally in a downtrend. On hourly charts, Bitcoin is down 1%, while major altcoins are down between 2% and 4%. This increases the possibility of a short-term correction in the market and requires investors to be cautious.
Follow us on Twitter, Facebook and Instagram, and join our Telegram and YouTube channel to stay up to date with breaking news !
