The cryptocurrency market began the day with stability, following a week of excitement due to ETF enthusiasm, which initially boosted the market but later caused a sell-off. Despite this, some altcoins continue to show movements independent of Bitcoin’s trajectory.
The recent market downturn is attributed to the waning excitement over Spot Bitcoin ETFs. After the ETF approval, Bitcoin’s price soared to $49,000 but has since retreated below the current level of $43,000.
At the time of writing, Bitcoin’s price has risen by 0.75% to $42,870, with a 9.24% increase in 24-hour trading volume, reaching $21.05 billion. Ethereum, the leading altcoin, has seen a 0.94% increase to $2,532.13, despite a 15% decrease in 24-hour trading volume to $8.59 billion.
Binance’s native token BNB has experienced a 0.58% increase to $315.77, with a remarkable 97.96% surge in daily trading volume to $1.73 billion. On the other hand, Solana and XRP have seen slight decreases, trading at $96.05 and $0.5766 respectively.
Social media interest in PEPE, a competitor to SHIB and DOGE, continues, though Pepe Coin’s price has dropped by 0.91% to $0.000001216 with a 12.35% decrease in trading volume. Flare and Blur are among the top-performing altcoins, with significant price and trading volume increases, potentially influenced by developments with Google Cloud and growing investor interest.