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Bitcoin’s price dropped below the $60,000 level after reaching $61,600.
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Ether fell to $2,600 when it failed to reach the $2,800 to $3,000 price range.
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Altcoins such as SOL, ORDI and ARB have nosedived.
The crypto market turned negative on Thursday, with the leading digital assets Bitcoin and Ether (ETH), both of which have dropped significantly, failing to maintain price action above $60,000 or $2,700 respectively. The leading altcoins have also fallen, while the total cryptomarket capitalization has dropped to $2.06 billion, a 3.59% drop in 24 hours.
According to CoinMarketCap data, Bitcoin has fallen below the $60,000 level after reaching a peak of $61,600. It is currently trading at $57.903.52 as of the time of publication. The largest crypto asset, with a $1.14 trillion market cap, is down nearly 5% over the last 24 hours. However, the trading volume has risen by 11.22%. This indicates that sellers are in control.
ETH, on the other hand, has fallen 4.22% over the last 24 hours, and is currently trading at $2 604, but is up 7% over the past 7 days. Further, the native Ethereum token reached a daily maximum of $2,775 and failed to break through the $2,800-$3,000 level. ETH is down a staggering 46.61% from the all-time high price of $4,891.70 seen in the previous bullcycle.
Altcoins such as Solana (SOL), ORDI(ORDI), and Arbitrum(ARB) have all turned bearish. The only bullish token among the top 15 was Tron (TRX), up 1.15% over the past 24 hour and currently trading at $0.1317. The recent announcement by TronDAO of SunPump’s meme coin platform announcing a partnership with the HTX cryptocurrency trading exchange can be attributed to the TRX surge.
SOL is currently trading at $141.43, down 8.71% over the past week. There is a significant possibility that the altcoin will reach higher highs soon, as it offers a daily return to participants in the blockchain ecosystem of 1%. ORDI, however, has fallen by a massive 9.85%, and is now priced at $27.97. This confirms that the cryptocurrency is in a downward trend.
ARB has also fallen 4.53% over the last 24 hours, and now trades at $0.5534. The trading volume for the altcoin increased by 17.16%. This confirms that sellers are currently controlling the cryptocurrency’s prices.
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