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Cryptocurrency Market: Bitcoin and Altcoins Show Decline

Cryptocurrency Market: Bitcoin and Altcoins Show Decline

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by Giorgi Kostiuk

8 hours ago

The cryptocurrency market is experiencing a notable downturn today, with Bitcoin and many altcoins showing significant price losses.

Bitcoin's Drop and Altcoin Reaction

In the past 24 hours, Bitcoin (BTC) fell 1.39% to $102,700.46, with its trading volume shrinking by 8%. Earlier this week, it surpassed $105,000 but is currently facing resistance at the $103,000 level.

Altcoin Market: XRP and Solana

XRP dropped to $2.47, reflecting a 5% decline from its daily high. Solana (SOL) mirrored this trend, falling 5.44% to $170. Technical analysts suggest potential further downside for XRP and Solana if current support levels are lost.

Overall Overview of the Cryptocurrency Market

According to CoinMarketCap, the total cryptocurrency market cap today sits at $3.29 trillion, with a 24-hour trading volume of $117.73 billion. Other major losses are observed for Ethereum (ETH) and Binance Coin (BNB), which fell by 2.43% and 2% respectively.

The observed downturn in the cryptocurrency market highlights current instability and the need for cautious trading approaches amidst uncertainty.

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