The crypto market has lost over $96 billion in the past 24 hours as Bitcoin and other major cryptocurrency (BTCEthereum (ETHThe ) face corrections.
Bitcoin, the world’s leading cryptocurrency, experienced a steep drop. It fell to a intraday low $68,507. At the time of going to press, the cryptocurrency was priced at $69,321 — a 2.57% dip from the previous 24 hours.
Bitcoin’s 24-hour volume of trading fell by over 4%, to $28.1 Billion.
Bitcoin hit an all-time high of $72,000 in just one week on 7th of June after being above $70,000 several days.
Bitcoin’s market cap fell from $1.366 billion to $1.366, but its dominance increased to 53.8 percent as altcoins took a much larger hit.
Altcoins are in red
There were few notable gains among the top 100 cryptos, as most registered losses between 1.03 and 14.52 percent.
Ethereum is now down by 3.11% at below $3,700. BNB (the fourth largest crypto by market capital) has fallen from $710 to just over $683.SOL() has dropped by more than 6 percent.
This is the most valuable meme coin in terms of market value.
- DogecoinDOGEThe, is down by 8.85%
- Avalanche (AVAXThe. is now down by 9.5%
- ChainlinkLINKThe price of ) dropped by 9.16%.
- Polkadot (DOT( ) fell 10.24%
- NEAR ProtocolNEAR( shaved 9.01%
- UniswapUNIThe % dropped by 5.31%
- PolygonMATIC( ) fell by 9.01%.
The total value of all cryptocurrency assets, including Bitcoin and Ethereum, has fallen by $96 Billion since the peak yesterday. CoinMarketCap now shows a value of $2.54 trillion.
Analysts have suggested the drop may have been influenced by a stronger-than-expected U.S. non-farm payroll (NFP) report For May, the U.S. dollar strengthened and 272,000 new positions were added.
The Federal Reserve’s interest rate report was weakened by the publication, which negatively impacted Bitcoin and market sentiment.
Double-click to learn more BTC bullish hypothesis
Samson Mow, a Bitcoin supporter who is active on X, suggested a bullish scenario in which Bitcoin would be able to grow.
He suggested that the gaming goods retailer GameStop add Bitcoin to its corporate treasurer, which in his view could create a “double bullish thesis” Bitcoins and GameStop Shares could both see significant increases in price.
Keith Gill is a social media analyst who has a similar view to Mow. “Roaring Kitty,” Hosting his first livestream for three years and focusing on GameStop’s future.
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Source: crypto.news