The last 24 hours in the cryptocurrency market have been marked by instability, yet Bitcoin's price currently stands at around $105,000. New price fluctuations are anticipated due to the upcoming Fed decision.
Bitcoin's Drop and Recovery
Israel's attack on Iran last Friday caused drastic fluctuations in the cryptocurrency market, with Bitcoin plummeting from $108,400 to under $103,000. However, BTC managed to recover some ground, reaching a peak of around $109,000 at the beginning of the week. Nevertheless, the asset faced significant resistance and fell back below $103,500 after new developments in the Middle East.
Losses in Altcoins
Most altcoins have also registered declines over the past day. Ethereum is nearing $2,500 after a minor drop, while XRP has fallen to $2.15. Other cryptocurrencies such as SOL, HYPE, ADA, and LINK have also noted losses. Conversely, some altcoins like KAIA and SEI showed slight increases.
Overall Cryptocurrency Market Situation
The total cryptocurrency market capitalization has decreased by $60 billion in a day, now reaching $3.380 trillion. Bitcoin's dominance over altcoins continues to hover around 62%.
The cryptocurrency market remains highly unstable, and significant events such as the Fed's decisions can greatly influence future price movement.
