Cryptocurrencies like BTC & ETH Finds a Range But Sees A Dip

The global crypto market cap is up by 0.60%, hovering around $2.33 trillion with an FGI of 56 points for neutral sentiments. But the surge was also met with some contrasts, as cryptocurrencies like BTC and ETH found a range but also witnessed a slight dip, as of October 25, 2024.

Speaking of the positive side, the surge is worth noting because it comes hours after reports made their way to the surface citing that the US government wallet was drained for $20 million. There is no clear link to the source of this incident but it is speculated that it happened because of suspicious transfers. The wallet was reportedly tied to Bitifnex and was hacked on Thursday.

What follows also builds on top of KuCoin Managing Director Alicia Kao. She attended Blockchain LIfe 2024 and emphasized the need for crypto education. KuCoin is already addressing the sphere and has so far attracted over 1.5 million engaged users.

BTC and ETH Tease Again

Bitcoin tokens briefly traded above $68,000 before retracing their prices back to $67,946.56, up by 1.12% in the last 24 hours. BTC is seeing price movements within a range – it only goes on to reflect that there is stability to some extent even if the market is volatile. Spot Bitcoin ETFs registered a net inflow worth $188 million on October 24, 2024, to create a 2-day streak of inflows. The historical cumulative total net inflow comes to $21.6 billion. Most of it is led by BlackRock’s IBIT which has a total of $23.6 billion in inflows.

Ethereum tokens are slightly down by 1.12% in a single day, exchanging hands at $2,517.05. There could be concern around it because earlier speculation was that it would sustain $2,700 to potentially surpass $2,800 and reach the $3k mark by the end of October 2024. Spot Ether ETFs recorded net inflows of $2.3 million on October 24, 2024, to have a 3-day streak of inflows. The historical cumulative total outflows are $472.7 million.

Meme Coins See Decline

The likes of DOGE and SHIB plummeted by 0.17% and 0.10%, respectively, in the last 24 hours. Their values are $0.1396 and $0.00001779, applicable in the same order. Meme Coins have carried the flag of being a perfect alternative to general cryptocurrencies. They continue to do so amid the rising interest in the AI segment. It is anticipated that AI bots are beginning to launch and trade meme coins. There is little human interference as AI bots take care of most of it.

Also, a whale has accumulated GOAT tokens worth approximately $2.41 million. This brought the meme coin under the light with many assuming its capability to deliver profits in later times. The investor is believed to have allocated SOL worth the same amount to acquire a position in Goatseus Maximus (GOAT).

Someone created a new wallet and withdrew 14,409 $SOL($2.41M) from #Binance to buy $GOAT.

So far, this guy has spent 10,313 $SOL($1.72M) to buy 4.5M $GOAT at $0.383, with 4,096 $SOL($682K) left.

The buying is still going on.https://t.co/hYJQoMavt0 pic.twitter.com/YnauHOMYCl

— Lookonchain (@lookonchain) October 22, 2024

Other Gainers and Losers

XRP and SOL are down by 0.32% and 0.21%, respectively, in the last 24 hours. Their values are $0.5275 and $173.58, applicable in the same order. There is little information about how strong the chances of their ETFs are but the community is optimistic that issuers will navigate their way around the complexities of the launch.

POPCAT has lost momentum in the last 24 hours. It has declined by 7.60% for a value of $1.51. Crypto enthusiasts have their sights on POPCAT because it has fetched profits frequently, even at a time when the crypto market was trembling.

Conclusion

BTC and ETH are known to lead the market trends. Both are doing pretty much how they are expected to perform except Ether is closer to more declines if it does not pull up the token value. Meme Coins have the support of the community if things go south.

Disclaimer: Values are true at the time of writing this article. Content is not investment advice.