Crypto Prices Plunge After Recent Gains; Market Cap Down to $2.38 Trillion

Crypto Prices: BTC, ETH, SOL, and XRP Experience Sharp Declines

Crypto Prices – The crypto market experienced a notable downturn today, following a period of remarkable gains. Bitcoin (BTC) price slipped back to the $66,000 level, while Ethereum (ETH), Solana (SOL), and XRP saw declines ranging from 0.7% to 6%. The global crypto market cap dropped by 3.32% to $2.38 trillion, although total market volume increased significantly by 72.97% to $83.26 billion.

Bitcoin Price

Bitcoin’s (BTC) price dropped 4.16% in the past 24 hours, settling at $66,555.76. The cryptocurrency’s 24-hour low and high were $65,894.27 and $69,987.54, respectively. Despite spot Bitcoin ETFs recording inflows of $124.13 million, BTC has entered a bearish phase. Concerns have risen due to recent on-chain data suggesting Mt. Gox might be preparing for another BTC transfer. The Mt. Gox (12Rgp) address moved 0.02 BTC (approximately $1,350) to an address starting with 1Adb, and another transaction of 0.0001 BTC was made to an address starting with bc1q.

Bitcoin’s dominance decreased by 0.56% to 54.92%. Notably, the U.S. government recently moved $2 billion worth of Bitcoin seized from the dark web site Silk Road.

Ethereum Price

Ethereum’s (ETH) price chart showed considerable volatility over the past day, slipping 0.77% to trade at $3,319.01. The 24-hour low and high were $3,257.72 and $3,396.63, respectively. Ethereum staking reached a new all-time high amid a buzz surrounding spot ETFs. The crypto community is eagerly awaiting significant price movements for ETH following the ETF launch and recent market developments.

Solana Price

Solana (SOL) exhibited signs of a pullback, dipping 4.94% over the past day to $182.54. The 24-hour low and high were $179.63 and $193.73, respectively. Discussions about a potential Solana ETF have cooled down after BlackRock CIO Samara Cohen confirmed no plans for a SOL ETF in the near future.

XRP Price

XRP’s price fell 0.92% to $0.601. The 24-hour low and high were $0.5933 and $0.6114, respectively.

Dogecoin and Shiba Inu Prices

Dogecoin’s (DOGE) price dropped 3.25% to $0.1294. Similarly, Shiba Inu (SHIB) fell 2.43% to $0.00001673. However, Book of Meme (BOME) stood out in the meme coin sector, rallying nearly 11% to $0.01056.

Crypto Gainers Today

• Book of Meme (BOME): surged 11.65% to $0.01056.
• Mog Coin (MOG): up 11.06% to $0.000002112.
• Bitcoin SV (BSV): soared 10.54% to $52.39.
• AIOZ Network (AIOZ): rallied 8.77% to $0.645.

Crypto Losers Today

• Popcat (POPCAT): dropped 13.15% to $0.7491.
• Jupiter (JUP): tumbled 8.54% to $1.08.
• Bittensor (TAO): fell 6.81% to $2.34.
• dogwifhat (WIF): declined 6.73% to $2.34.

Market Analysis

Despite the overall bearish trend, hourly charts indicated slight gains for BTC and ETH, with BTC increasing by 0.16% and ETH by 0.03%. This added a layer of intrigue to the current market scenario. The market’s future movements remain uncertain, with investors closely monitoring for any significant shifts.

FAQ on the Recent Crypto Market Decline

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