Synopsis
Cryptocurrency markets saw a decline with Bitcoin, Ethereum, Solana, and Dogecoin leading the drop. Mt. Gox creditors received $9 billion in BTC. Bitcoin and Ethereum faced volatility. Altcoins like Solana and Dogecoin declined while BNB and XRP surged. Market cap at $2.39 trillion.
Cryptocurrency markets traded in the red on Wednesday, dragged by Bitcoin, Ethereum, Solana, and Dogecoin. Meanwhile, the global cryptocurrency market cap declined by 0.64% to around $2.39 trillion in the last 24 hours.
At 12:35 pm IST, Bitcoin (BTC) was trading 1% lower at $65,906, while Ethereum fell 0.25% to $3,439 after Ether ETFs debut on Tuesday.
“Bitcoin (BTC) fell below the $66,000 mark following the news that creditors of the now-defunct exchange Mt. Gox have begun receiving their BTC through the U.S. based exchange Kraken,” said CoinSwitch Markets Desk.
Crypto Tracker
TOP COIN SETSSmart Contract Tracker2.79% BuyNFT & Metaverse Tracker-1.34% BuyDeFi Tracker-1.65% BuyWeb3 Tracker-3.34% BuyAI Tracker-8.47% BuyTOP COINS (₹) BNB49,165 (1.16%)BuyTether84 (-0.01%)BuySolana14,757 (-0.07%)BuyEthereum289,618 (-0.11%)BuyBitcoin5,546,200 (-0.6%)BuyAfter a nine-year wait, multiple creditors have reportedly received their BTC, with the total distributed amounting to an impressive $9 billion in BTC and Bitcoin Cash (BCH), CoinSwitch added.
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Edul Patel, CEO of Mudrex, said, “Bitcoin witnessed considerable volatility in the past 24 hours as prices dipped below the $66,000 mark. This is accompanied by Mt. Gox moving significant amounts of Bitcoin between wallets. The cryptocurrency is currently facing immediate resistance at $67,401, with support at $64,874.”
“Ethereum also exhibited volatility amidst the green light for ETH ETF trading. Overall market sentiment remains optimistic,” Edul added.
Avinash Shekhar, Co-Founder & CEO of Pi42, noted, “Bitcoin ETFs saw $961 million in net inflows, but ETH derivatives remain subdued, indicating a lack of confidence in immediate upside. Key concerns include potential outflows from Grayscale’s ETHE and uncertainty from Mt. Gox’s BTC move. However, ETH futures are holding above a 10% premium, suggesting moderate optimism.”
Other popular altcoins, such as Solana (1%), Dogecoin (1.4%), Avalanche (4.4%), Polkadot (0.6%), and NEAR Protocol (0.8%) also declined. On the other hand, BNB, XRP, Toncoin, and Tron surged up to 1.5%.
The volume of all stablecoins is now $76.98 billion, which is 92.61% of the total crypto market 24-hour volume, as per data available on .
In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $1.302 trillion. Bitcoin’s dominance is currently 54.3%, according to . BTC volume in the last 24 hours fell 24% to $32.8 billion.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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