Synopsis
Major cryptocurrencies saw a decline on Tuesday as investors took profits after recent gains. Bitcoin (BTC), Ethereum (ETH), Solana, and other significant cryptocurrencies dropped, resulting in a 2% decrease in the global cryptocurrency market cap, which now stands at around $2.34 trillion.
Major cryptocurrencies declined on Tuesday as investors booked profits following recent highs. Bitcoin (BTC), Ethereum (ETH), Solana, and other major cryptocurrencies experienced dips, contributing to a 2% drop in the global cryptocurrency market cap, which now stands at approximately $2.34 trillion over the past 24 hours.
As of 12:04 pm IST, Bitcoin was down 2%, trading at $67,731, while Ethereum fell 3.2% to $2,654.
Several other prominent cryptocurrencies saw declines, including BNB (-1.6%), Solana (-1.2%), XRP (-1.2%), Dogecoin (-1.3%), Toncoin (-2%), Avalanche (-2.7%), Shiba Inu (-3.5%), and NEAR Protocol (-4.3%).
Crypto Tracker
TOP COIN SETSDeFi Tracker0.86% BuyBTC 50 :: ETH 500.80% BuyNFT & Metaverse Tracker-0.07% BuyWeb3 Tracker-0.09% BuyAI Tracker-5.11% BuyTOP COINS (₹) Tether84 (-0.09%)BuySolana13,908 (-1.45%)BuyBitcoin5,625,139 (-2.31%)BuyEthereum221,117 (-3.37%)BuyBNB49,525 (-3.44%)Buy”Bitcoin has dipped over 2% as investors move toward profit-taking. After reaching a peak of $69,300, BTC is now trading around $67,500. It appears the bulls are pausing after a week-long rally, likely gearing up for another surge as the U.S. elections get closer. Bitcoin’s support level has dropped to $67,100, with resistance now standing at $68,200,” said Edul Patel, CEO of Mudrex.
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View Details »Vikram Subburaj, CEO of Giottus, said, “Bitcoin has hit a temporary snag with a ~2% pullback today along with notable outflows from its ETFs. However, the asset continues to consolidate above its support threshold of $66,000 with the RSI and MACD supporting a bullish recovery.”
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“Top altcoins have mirrored Bitcoin with Solana, Toncoin and Avalanche declining by 2-4%. Ethereum has dropped below $2,700 with its RSI falling below the neutral zone. Tron has bucked the trend with a minor uptick. If Bitcoin holds $66,000 support, a retest of $68,500 resistance level could be expected in the upcoming days,” Subburaj added.
The volume of all stablecoins is now $76.86 billion, which is 91.82% 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 $1.336 trillion. Bitcoin’s dominance is currently 57.14%, according to . BTC volume in the last 24 hours surged 56.9% to $37.4 billion.
“In the past 24 hours, Bitcoin experienced significant volatility, initially surging past $69,000 before correcting to approximately $67,286. Though the recent price decline has raised concerns, this is expected to be a normal market correction after an excessive rally. The outlook remains optimistic; it could open the door to further gains, potentially reaching new all-time highs,” said Shivam Thakral, CEO of BuyUcoin.
(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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