Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
The cryptocurrency market began the week with a notable downturn, as total sector capitalization dipped toward $3.8 trillion. Bitcoin (BTC), the leading cryptocurrency, experienced a significant correction, trading as low as $112,700. CoinGecko data shows that this decline had a ripple effect, causing major altcoins such as Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) to register losses of 7%, 5%, 7%, and 10%, respectively. S&P 500 Rises While Crypto Market Slumps The selloff also impacted crypto-related stocks. Bitcoin investment firm Strategy (MSTR) saw a decline of 2.6%,....
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Crypto assets like Bitcoin and Ethereum can no longer be considered as just tenants in the outskirts of the world’s current financial system. They have already matured in such a way that they are now the driving force behind a digital revolution that is fuelled by enthusiastic investors that recognize their potential not only as […]
Amid Ethereum’s continuous free fall in price, renowned crypto analyst Michael Van De Poppe highlighted the asset’s current weakness in a post on X earlier today and when there could be a potential rebound. Van De Poppe’s outlook comes at a time when Ethereum, the second-largest cryptocurrency by market capitalization, has continued to experience significant downward pressure, much like its counterpart, Bitcoin. In the past 24 hours, ETH has seen a decline of 3.7%, bringing its current trading price to $2,491. Related Reading: Is Ethereum Finally Over the Slump? These 2....