BTC Tanks 10%, ETH Crashes 20%, & Altcoins In Bearish State

Coingape Staff

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Crypto Prices Today: Bitcoin, Ethereum, and Other Cryptocurrencies Take a Bearish Turn

Crypto Prices Today: Bitcoin Price Plummets 10.78%

Bitcoin price plummeted 10.78% in the past 24 hours to reach $54,191.08. The coin’s 24-hour slumps and peaks were recorded as $52,559.19 and $61,058.94, underscoring a highly volatile movement.

Bitcoin’s dominance stood at 56.62%, an increase of 0.98% over the past day. Amid the coin’s bearish performance, BTC critic Peter Schiff has further predicted that Bitcoin ETFs will ‘gap down 15%-30% below their Jan highs.’

Ethereum Price: ETH Price Crashes 20.07%

Simultaneously, the ETH price crashed 20.07% over the past day to trade at $2,325.86. Ethereum’s 24-hour bottoms and tops were $2,122.55 and $2,923.47, respectively.

Notably, the slumping price movement comes against the backdrop of Jump Trading offloading whopping amounts of ETH. The crypto firm appears to have dumped $500 million in Ethereum over the past ten days.

Solana Price: SOL Price Dips 11.42%

The crypto SOL saw an 11.42% dip in value to reach $127.94 today. Solana’s 24-hour bottoms and tops were recorded as $124.24 and $144.95, respectively.

Whale Alert’s data reveals significant SOL dumps to exchanges over the weekend, aligning with the coin’s waning movement.

Crypto XRP Price: XRP Price Plunges 14.92%

XRP price plunged 14.92% over the past day to trade at $0.4793. The crypto’s 24-hour lows and tops were…

Conclusion

In conclusion, the crypto market has taken a severe bearish turn, with Bitcoin, Ethereum, and other cryptocurrencies experiencing significant price dips. The market volatility is attributed to various factors, including market sentiment, global events, and regulatory changes. As the crypto space continues to evolve, it is essential for investors to stay informed and adapt to market changes.

FAQs

Q: What caused the sudden drop in cryptocurrency prices?
A: The exact cause of the price drop is difficult to determine, but it is likely attributed to a combination of factors, including market sentiment, global events, and regulatory changes.

Q: Will the cryptocurrency market recover soon?
A: It is impossible to predict the future of the cryptocurrency market. Market fluctuations are inherent, and prices may bounce back or continue to decline.

Q: Is it safe to invest in cryptocurrencies?
A: Investing in cryptocurrencies carries significant risks. It is essential to do your market research, understand the risks involved, and consult with a financial advisor before making investment decisions.