After briefly recovering above $100,000, Bitcoin and the cryptocurrency market as a whole took a nosedive and retraced significantly.
Bitcoin is currently trading at $93,250 after a 2.3% decline in the past 24 hours and 3.6% in the past 7 days. BTC’s cap dropped to $1.846 trillion and the trading volume reached $62 billion.
The 1-day technical analysis from TradingView shows that the sentiment in the cryptocurrency market is very bearish right now with the summary, moving averages and oscillators pointing to “sell” at 12, 10 and 2, respectively.
Ethereum also dropped 2.3% to $3,286 with $31.5 billion in trading volume. In the past week ETH lost 5.4% and its market cap fell to $395.88 billion.
The two biggest losers in today’s drawdown were the trending AI token ai16z and one of the top memecoins dogwifhat.
AI16Z is currently trading at $1.41 after experiencing a 22.2% price drop in the past 24 hours and a massive crash of 31% in the past 7 days. The AI token’s market cap declined to $1.55 billion, while its 24-hour trading volume reached $376 million.
WIF lost 13% of its value today and 21.6% over the past 7 days and is currently trading at $1.59 with $1.59 billion market cap and $511.83 volume.
The total cryptocurrency market cap dropped 1.5% to $3.27 trillion, leading to significant liquidations.
According to data from CoinGlass, $458.48 million were liqudated 24h ($315.11 million in long positions and $143.38 million in shorts).
XRP (XRP) has gone up by 1.2% in the past 24 hours but, behind that mild price increase, there has been a significant spike in trading volumes. During this period, $2.4 billion worth of XRP has exchanged hands, representing an 83% increase. Just hours ago, Ripple announced the official launch of its Ethereum-compatible sidechain called […]
A community-driven initiative launched Monday is inviting Ethereum users to lock art, memories, and personal messages inside a decentralized “time capsule,” set to be opened on the network’s 11th anniversary next year.
A new CryptoQuant report highlights a growing divergence between long-term Ethereum holders and short-term Bitcoin buyers, with significant accumulation behavior unfolding in both markets amid increasing political and economic tension in the U.S.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.