After a week of significant gains, the crypto market seems to be cooling-off with most digital assets witnessing declines.
Bitcoin’s price dropped 2.3% in the past 24 hours below $95,000, but is still up 5.8% on the weekly chart. The flagship cryptocurrency has a market cap of $1.896 trillion and a 24-hour trading volume of $48 billion.
During this period, positions worth $493.18 million were wiped out – $385.67 million in longs, and $107.51 million in shorts, according to data from Coinglass.
Despite this price drop, the 1-day technical analysis from TradingView remains bullish with the summary pointing to “buy” at 15, moving averages show “strong buy” at 13, and oscillators remain “neutral” at 7.
The total cap of the crypto market declined by 2.83% in the past 24 hours and is currently at $3.26 trillion.
Ethereum lost 3.6% of its value in this timeframe with a trading volume of $29 billion. Nevertheless, ETH is still up 6.4% in the past 7 days and has a market cap of around $399 billion.
The biggest loser today is XRP, which lost over 11% with volumes reaching $11 billion. The altcoins is still up 24.7% this week, following the major price surge we witnessed some days ago.
Cryptocurrency expert Benjamin Cowen has shared his thoughts on the potential end of Bitcoin’s (BTC) bull run, cautioning that a key price level could signal the shift.
VanEck has taken steps to introduce an exchange-traded fund (ETF) tied to AVAX, seeking approval from U.S. regulators.
Coinbase has recently added the Doginme (DOGINME) memecoin to its asset roadmap, hinting at a possible future listing on the exchange.
Recent reports suggest that El Salvador’s 6,114 BTC, claimed by the government, may actually be controlled by the crypto exchange Bitfinex.