The cryptocurrency market experienced a substantial slump today as Bitcoin dipped below $63,000, Ethereum approached the $3,000 mark, and Solana faced a significant crash.
Major Cryptocurrencies Record Bearish Movement
Bitcoin (BTC) struggled near the $62,000 level, witnessing a decline despite a brief rebound on Monday. Meanwhile, Ethereum (ETH) teetered close to dropping below $3,000, signalling potential bearish sentiment in the market.
Bitcoin and Ethereum Prices Fall
Bitcoin’s price dipped by 3.95% to $62,375.46, with a trading volume surge to $45 billion. Ethereum also recorded a 3.44% decline, reaching $3,033.71, accompanied by an increase in trading volume to $22.78 billion.
Altcoins Experience Significant Declines
Several top altcoins, including Solana (SOL) and XRP, faced substantial losses amid the broader market downturn.
Solana and XRP Witness Sharp Declines
Solana’s price crashed by 10.82% to $132.46, while XRP extended lower than $0.49, recording a dip of 3%.
Notable Performances Amid Market Turbulence
While many cryptocurrencies faced declines, some outliers saw significant rallies amidst the market turmoil.
Core Crypto Surges 62%
Core (CORE), an EVM-compatible L1 project, emerged as the top gainer, rallying over 62% to $2.35. Its trade volume also skyrocketed by 326.46%, reaching $699.24 million.
In summary, the cryptocurrency market experienced a notable downturn today, with major cryptocurrencies like Bitcoin and Ethereum facing significant declines. However, amidst the market turbulence, certain cryptocurrencies like Core managed to register substantial rallies, showcasing the volatility and unpredictability of the crypto market.
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