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Cryptocurrency Market: Bitcoin Drops 1.23%, Ethereum Falls Below $4.2K

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by Giorgi Kostiuk

an hour ago

The cryptocurrency market is experiencing volatility due to significant ETF withdrawals, negatively impacting Bitcoin and Ethereum prices.

Bitcoin Price Decline

Bitcoin dropped by 1.23%, reaching $113,576. This decline was linked to ETF withdrawals totaling $523 million, putting considerable pressure on the market. Nevertheless, Bitcoin maintains a dominance level of 53.61%, affirming its significance in the overall market direction.

Ethereum Trends

Ethereum saw a 0.98% drop, settling at $4,198 after $422 million exited from ETFs. Its dominance remained strong at 12.32%, reinforcing Ethereum's critical role in the crypto landscape despite the overall altcoin correction.

Altcoin Market Performance

Altcoins exhibited mixed performance, with minor declines observed in Solana, Cardano, and BNB. However, smaller tokens showed resilience, indicating ongoing market rotation.

The overall situation in the cryptocurrency market remains tense, with active price fluctuations in Bitcoin and Ethereum, prompting participants to exercise caution and analyze current circumstances.

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