Investors and traders in the crypto market have been cautious as they anticipate the release of U.S CPI and PPI data. Amid the downturn, the market cap has dipped by 0.95% in the last 24 hours to $3.16 trillion, while trading volume surged by 34.33% to $99.25 billion. The Fear & Greed Index remains in the 'Fear' zone at 35, highlighting uncertainty.
Bitcoin and Ethereum Hold Crucial Levels
Bitcoin price today has been relatively stable at $97,119.34 with a marginal price decline of 0.04% since yesterday. With a market cap of $1.924 trillion, its dominance in the industry has slightly weakened by 60.78%. Despite the dip, BTC's trading volume of $33.15 billion suggests continued investor engagement. Ethereum, the largest altcoin, has shed about 1.16% since yesterday to $2,633.90. On-chain data shows Ethereum accumulation hitting a record high of 330,705 ETH, worth about $883 million as of February 7th.
SOL & XRP Decline, LTC Rises
Solana's price faced a notable 2.22% decline to $201.74, while XRP tumbled 3.67% to $2.39. However, Litecoin emerged as the biggest gainer, soaring by 5.96% to $113.47 in 24 hours. FET and INJ also recorded gains of 2.98% and 2.71%, respectively. Biggest losers include Official Trump, dropping 13.17% to $15.36, DeXe falling 11.85% to $19.39, and RAY decreasing 11.52% to $4.62.
FAQs
How much is 1 Bitcoin worth today? Bitcoin is priced at $97,119.34, with a slight 0.04% decline over the past 24 hours. Which cryptocurrency gained the most today? Litecoin is the top gainer with a 5.96% increase, now trading at $113.47. Why is Ethereum accumulation rising despite a price drop? Ethereum accumulation has reached 330,705 ETH, worth $883 million, as institutional investors and whales continue buying during price dips, anticipating long-term growth.
Despite recent fluctuations, the crypto market maintains its dynamic nature with various assets experiencing both losses and gains. While market cap decrease underscores caution, surge in trading volume and altcoin accumulation signals ongoing interest and expectations.
