The cryptocurrency market has experienced a significant decline in market capitalization and Bitcoin prices over the past 24 hours.
Rapid Fluctuations in Market Capitalization
The total cryptocurrency market capitalization fell by $18 billion, now standing at $3.91 trillion. A sharp fluctuation amounting to $100 billion has again drawn attention to market instability. Experts advise investors to be prepared for quick price changes in the short term.
Price Decline of Bitcoin
Bitcoin’s price currently stands at $118,933. Despite ongoing market pressures, analysts note that the relative strength index (RSI) remains above neutral, indicating continued positive momentum. However, an increase in profit-taking among investors could lead to a price drop below $117,261.
Fartcoin's Drop
Within the altcoin segment, Fartcoin suffered the most significant losses, dropping 19% over the past day and trading at $0.87. Technical analysis suggests that the downward trend is gaining strength, and if the price falls below the current support level, a further retreat to $0.80 could occur.
The cryptocurrency market has reverted to a volatile stance following brief rallies. Upcoming macroeconomic data from the U.S. and investor tendencies may become pivotal in determining the market’s direction.
