The Top 10 Cryptocurrency Prices Today: Ethereum Drops 11% Weekly, Bitcoin Price Crashes Below $110,000
Due to selling pressure on big coins like Dogecoin (DOGE), Ethereum (ETH), Solana (SOL), and Bitcoin (BTC) over the past day, the majority of tokens in the cryptocurrency market are experiencing extreme volatility. Following last week’s bull run, the price of bitcoin plummeted today.
Meanwhile, the price of Binance Coin is below $1000, and Ethereum is demonstrating strength by trading slightly around $4000. It is anticipated that these tokens will flourish once the current feelings, which are essentially fear, shift. The markets might have been affected by the US President’s announcement of increased tariffs on various goods, such as furniture and medications. Over $170 billion in market liquidity was squeezed as a result, according to the CoinDCX Research Team.
Bitcoin Price Performance Today
The price of bitcoin is currently $109,495.76, down 2.05% over the past day and 5.36% for the past seven days. After testing the $108,700 support level, Bitcoin is now trading close to $109,800, indicating that it is beginning to rebound. Ahead of Friday’s $22 billion monetary options expiry, traders are still cautiously hopeful. However, because Bitcoin derivatives are so resilient, the selling pressure may lessen after the expiration. However, a robust $241 million in net inflows into Bitcoin ETFs contributed to the momentum. While new support is forming at $107,500, bulls must currently defend the $110,000 mark to continue on their upward trajectory. stated Edul Patel, Mudrex’s CEO.
Ethereum Price
The price of Ethereum is $3,957.46, down 11.49% for the last seven days and 1.75% over the last day. With a $30.99 billion trading volume, ETH’s market capitalization is $477.58 billion. When compared to Bitcoin, Ethereum has done poorly, which has caused altcoins to decline.
Tether (USDT) and USD Coin (USDC) Remain Stable Stablecoins continue to hold their peg. Tether (USDT) is priced at $1.00 with a market cap of $173.52 billion, while USD Coin (USDC) trades at $0.9997 with a market cap of $73.98 billion.
XRP, Binance Coin, and Solana Under Pressure
XRP is now trading at $2.78, down 3.32% over the last day, and has a market value of $165.90 billion. Although Binance Coin (BNB) has gained 10.08% over the last 30 days, it is currently trading at $941.55, down 5.55% in a single day.
With a price decline of 4.20% today and a staggering 17.46% weekly loss, Solana (SOL) is currently trading at $197.00.
Dogecoin (DOGE), TRON (TRX), and Cardano (ADA) Performance
The price of Dogecoin is $0.2277, down 3.18% in a day but up 4.02% for the month. With a market valuation of $31.64 billion, TRON (TRX) is currently trading at $0.3342, down 0.42%. At $0.7778, Cardano (ADA) has dropped 2.55% in a day and 12.71% in a week.
Market Outlook
Yesterday’s lower-than-expected U.S. jobless claims dampened expectations of immediate Fed rate cuts, which caused the larger cryptocurrency market to consolidate in the negative. A significant countertrend is building as spot buyers are jumping in with higher allocation amounts, despite the fact that risk-off sentiment has fueled a wave of liquidations. This discrepancy implies that long-term participants’ convictions hold firm despite transient fluctuation. Such corrections are common when expectations are upset by macro unexpected. For other clues, market players should keep an eye on forthcoming macro releases, such as today’s PCE inflation data. according to the Markets Desk at CoinSwitch
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