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Market Update: Bitcoin (BTC) and Altcoins Experience Consolidation
The last 24 hours have been relatively quiet for Bitcoin (BTC) and many of its large-cap altcoin counterparts. The primary cryptocurrency has shown very slight volatility, trading at almost the same level observed yesterday.
BTC Barely Moves
The last business week has been rather turbulent for BTC, with its price fluctuating between under $95,000 and almost $99,000. Some of the factors that contributed to the enhanced volatility include Donald Trump’s intention to enforce additional tariffs on certain stocks entering the USA and the latest CPI data released by the US Bureau of Labor Statistics.
However, the weekend has been calm so far. BTC settled at around $97,500 on February 15 and has since consolidated at that level, representing a mere 0.5% on a weekly scale.
How are the Alts Doing?
The overall consolidation of the crypto market has spread to some of the most popular altcoins. Ethereum (ETH) has stabilized at roughly $2,700, Ripple (XRP) continues to trade around the $2.80 mark, while Solana (SOL) hovers at approximately $195.
Nonetheless, some chart solid gains. Litecoin (LTC) has pumped by 4% in the last 24 hours to a monthly high of over $135, whereas TRON (TRX) has climbed by 2.5% for that timeframe.
Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Hedera (HBAR), Hyperliquid (HYPE), and others have suffered minor declines.
Meme Coin Sector Suffers Substantial Losses
The meme coin niche is covered in red today. Official Trump (TRUMP) – the token launched by US President Donald Trump – has plummeted by 10% to the current $18.60. Dogecoin (DOGE), Shiba Inu (SHIB), Bonk Inu (BONK), dogwifhat (WIF), and many more have also experienced losses.
Market Overview
The total cryptocurrency market capitalization currently stands at roughly $3.23 trillion, representing a 0.18% decrease for the day.
Conclusion
In conclusion, the cryptocurrency market has experienced a period of consolidation, with most major altcoins stabilizing around their current levels. While some assets have shown solid gains, others have suffered losses. As we move forward, it will be essential to monitor market developments and stay informed about the latest news and trends.
FAQs
Q: What are the current market conditions like for Bitcoin (BTC)?
A: The last 24 hours have been relatively quiet for Bitcoin (BTC), with the price showing very slight volatility and trading at almost the same level observed yesterday.
Q: How have the large-cap altcoins performed?
A: The overall consolidation of the crypto market has spread to some of the most popular altcoins, with Ethereum (ETH), Ripple (XRP), and Solana (SOL) stabilizing around their current levels.
Q: What is the current market capitalization of the entire cryptocurrency market?
A: The total cryptocurrency market capitalization currently stands at roughly $3.23 trillion, representing a 0.18% decrease for the day.
Q: Which assets have shown solid gains?
A: Some chart solid gains, including Litecoin (LTC), which has pumped by 4% in the last 24 hours to a monthly high of over $135, and TRON (TRX), which has climbed by 2.5% for that timeframe.
