Bitcoin Price Drops To $67,700 As Weekend Volatility Continues
By Kapil Rajyaguru
After a few days of sideways trading, bitcoin’s price headed south during the weekend and slipped to a weekly low of around $66,600 before it recovered to $67,763 on Monday Asian morning trade, with barely any change in the last twenty-four hours.
Bitcoin’s range-bound action over the past few days has not hampered investments into the spot Bitcoin exchange-traded funds. Farside Investors data shows more than $2.1 billion in net inflows into the Bitcoin ETFs since May 14. This suggests that the investors are accumulating Bitcoin, anticipating a breakout to the upside.
In a recent X post, the head of research at CryptoQuant, Julio Moreno, revealed that new Bitcoin whales have injected approximately $100 billion into the market in 2024.
Ethereum, the second largest cryptocurrency by market cap, was changing hands at $3786 with barely any change in the similar time frame, this sideways movement is far from the volatile ride that the asset went through last week amid the ETF news.
BNB, SOL, XRP, ADA, and DOT are with insignificant gains, while LINK and PEPE have increased by around 3-4% in a day.
In contrast, SHIB slumped by almost 3%, while UNI slumped by 6% and is close to breaking below $10.
NOT Coin was the most profitable among the 100 largest cryptocurrencies. The price increased by 278% in 7 days. JASMY Coin increased by 57.44%. In addition to these huge gains, TIA, BGB, ORDI Coin also increased by 20 percent.
The global crypto market cap is $2.53T, a 0.33% decrease over the last day. The total crypto market volume over the last 24 hours is $59.76B, which makes a 32.40% increase. The total volume in DeFi is currently $4.71B, 7.89% of the total crypto market 24-hour volume. The volume of all stable coins is now $54.74B, which is 91.61% of the total crypto market 24-hour volume. Bitcoin’s dominance is currently 52.86%, an increase of 0.25% over the day.
You need to login in order to Like
