In a dramatic turn, cryptocurrency prices stirred concerns among global investors today, with Bitcoin (BTC) sinking to approximately $61,000. Meanwhile, Ethereum (ETH), Solana (SOL), and XRP also faced fluctuating values. Notably, EigenLayer (EIGEN) and FTX Token (FTT) emerged as this day’s standout performers.
What Factors Contributed to Bitcoin and Ethereum’s Decline?
Bitcoin’s price settled at $61,867, representing a nearly 3% decrease over the past 24 hours. Ethereum followed suit, dropping to $2,491 and falling under the critical $2,500 threshold. Both digital currencies saw their respective highs and lows throughout the trading day.
How Did Other Major Cryptocurrencies Perform?
On a more positive note, Solana (SOL) and XRP recorded gains of 3 to 5% in the last day. Solana’s price climbed to $147, while XRP rose to $0.6019, bringing their market caps to approximately $68.94 billion and $34.01 billion, respectively.
The cryptocurrency market’s total value saw a drop of 3.46%, now standing at $2.17 trillion. Conversely, total market volume surged by 44.09%, reaching $115.97 billion. Bitcoin’s dominance in the market slightly increased, now at 56.31%.
- FTX Token (FTT) gained 13%, while EigenLayer (EIGEN) increased by 10%.
- Starknet, Injective, and Arweave were among the biggest losers, each plummeting by about 14-15%.
- Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) fell by 8%, with other meme coins fluctuating between 2-9%.
The current market volatility offers critical insights for investors. The recent downturn in the values of Bitcoin and Ethereum suggests a broader negative trend, highlighting the unpredictable nature of the cryptocurrency sector.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/bitcoins-price-drops-below-62000