The cryptocurrency market faced bear market trends again today, after a long rise in recent days. Bitcoin (BTC) price dropped to $64,000, worrying investors. Leading cryptocurrencies Ethereum (ETH) and Solana (SOL) also followed this downward movement. However, XRP managed to trade in the green zone despite the general market trend. The global cryptocurrency market value fell 1% today to $2.37 trillion. Additionally, the total cryptocurrency volume decreased by 21.17% compared to the previous day, reaching 77.19 billion dollars.
What is the latest situation in Bitcoin price and other altcoins?
BTC price has experienced volatility against the backdrop of relatively low inflows into spot Bitcoin ETFs. According to data provided by Soso Value, inflows as of July 17 were $53.35 million, which is consistent with the token’s weakening price trend. BTC price is at $64,813.21, down 1.33% over the last 24 hours. The token’s 24-hour low and high were recorded at $63,896.09 and $65,994.60 respectively. Bitcoin’s dominance is at 53.89% today, down 0.13%. It is also worth noting that sustained inflows into spot BTC ETFs could pave the way for the next Bitcoin bull run.
ETH price fell 1.62% to $3,428.72, in line with the overall market trend. The 24-hour low and high levels of the cryptocurrency were recorded as $ 3,379.10 and $ 3,515.54, respectively. It is worth noting that updated S-1 forms have been filed for Ethereum ETFs. However, Grayscale reportedly set a high fee of 2.5% for the ETH ETF, causing controversy among market participants. SOL price lost 1.14% today and reached $159.11. Solana’s 24-hour low and high were recorded at $155.07 and $163.58, respectively.
Some cryptocurrency prices are also on the rise
As previously mentioned, the XRP price displayed remarkable resilience today, staying above the $0.6 resistance amid increasing Ripple-SEC settlement speculation. The token traded at $0.6085, up 2.64% in the last 24 hours. Its daily lows and highs were $0.5859 and $0.6366 respectively. The Meme coin sector had a trading session mostly in the red zone. Dogecoin (DOGE) price decreased by 1.82% to $0.1233. Shiba Inu (SHIB) price decreased by 3.48% to $0.00001887. Even Pepe coin dropped by 4.82% to $0.00001187.
Mixed signals from experts
The future course of Bitcoin remains uncertain. In his latest post on the X social media platform, leading commodity trader Peter Brandt warned of a bear market about Bitcoin. Although the cryptocurrency managed to recover from the recent market decline in a relatively short period of time, Brandt notes that the cryptocurrency has gone through a series of lower highs and lower lows.Cryptocurrency market analyst Peter Brandt points out both bullish and bearish potential in his latest comments on Bitcoin. On the one hand, he predicts that Bitcoin could reach the $150,000 level this cycle. However, on the other hand, he calculates the probability of experiencing a decline before seeing a new peak as 25%.
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