Today, the cryptocurrency market continues to display a bearish trend, raising investor concerns. Bitcoin (BTC) experienced turbulent movements around the $64,000 mark. Ethereum (ETH), XRP, and Worldcoin also traded in the red, while Solana (SOL) and Dogecoin (DOGE) saw some positive movement despite significant volatility.
The global crypto market cap dropped by 1.63%, settling at $2.33 trillion. Over the past 24 hours, total market volume decreased by 5.92%, reaching $70.14 billion, at the time of writing.
BTC, Shiba INU Trades On Red Lines
Bitcoin’s price stood at $63,800.56, reflecting a 1.40% decline from the last day. After surpassing a key resistance level at $64,000, BTC’s value has remained relatively consolidated. Although bears were dominant recently, their influence went off during early trading hours, giving bulls a potential boost. However, the price remains in a decisive phase.
Ethereum (ETH) traded lower, adding to the overall negative sentiment in the market. XRP and Worldcoin also saw declines. Specifically, Worldcoin dropped by 8.56%, trading at $2.59. This decrease is attributed to allegations of insider trading and questionable practices by the Worldcoin team, as highlighted by crypto detective ZachXBT.
Shiba Inu (SHIB) faced a notable drop, resting at $0.00001719. Following a price surge in recent days, SHIB’s rally lost momentum due to a hack attack on India’s WazirX exchange. Over 5 trillion SHIB were stolen, causing investor anxiety and a subsequent price correction.
What To Expect?
The cutting-edge market conditions replicate investor apprehension and market volatility. With predominant cryptocurrencies like Bitcoin and Ethereum displaying bearish developments, and incidents just like the WazirX hack affecting marketplace self-assurance, the crypto marketplace faces a duration of uncertainty.