At 12:04 IST, Bitcoin was down 2%, trading at $67,731, while Ethereum fell 3.2% to $2,654.
Several other major 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%).
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“Bitcoin has fallen more than 2% as investors turn to profit taking. After hitting a high of $69,300, BTC is now trading around $67,500. It appears the bulls are making a move “Bitcoin’s support level fell to $67,100, with resistance now at $68,200,” he said. Edul Patel, CEO of Mudrex.Vikram Subburaj, CEO of Giottus, said: “Bitcoin encountered a temporary problem with a pullback of around 2% today along with notable outflows from its ETFs. However, the asset continues to consolidate above its $66,000 support level with support from the RSI and MACD. a bullish recovery.
“Top altcoins mirrored Bitcoin with Solana, Toncoin and Avalanche down 2-4%. Ethereum fell below $2,700 with its RSI falling below the neutral zone. Tron bucked the trend with a slight If Bitcoin holds support at $66,000, a retest of the $68,500 resistance level could be expected in the coming days,” Subburaj added. Volume across all stablecoins is now at 76.86. billion, or 91.82% of the total 24-hour crypto market volume, according to data available on CoinMarketCap Over the past 24 hours, the market capitalization of Bitcoin, the world’s largest cryptocurrency,. fell to $1.336 trillion Bitcoin dominance is currently at 57.14%, according to CoinMarketCap BTC volume in the last 24 hours jumped 56.9% to $37.4 billion.
“Over the past 24 hours, Bitcoin has seen significant volatility, initially surpassing $69,000 before correcting to around $67,286. Although the recent price decline has raised concerns, it is likely a normal market correction after an excessive rally. The outlook remains optimistic; this could open the door to further gains, potentially reaching new all-time highs,” said Shivam Thakral, CEO of BuyUcoin.
(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times.)
