The cryptocurrency market faced bearish trends again today after a long upward trend in recent days. The price of Bitcoin (BTC) fell to $64,000, worrying investors. Leading cryptocurrencies Ethereum (ETH) and Solana (SOL) also followed this downward movement. However, XRP managed to trade in the green zone despite the general market trend. The global cryptocurrency market value decreased by 1% today to $2.37 trillion. In addition, the total cryptocurrency volume decreased by 21.17% compared to the previous day, reaching $77.19 billion.
What is the current situation of Bitcoin price and other altcoins?
The price of BTC experienced volatility on the basis of relatively low entries into spot Bitcoin ETFs. According to data provided by Soso Value, as of 17 July, entries were $53.35 million, which is consistent with the weakening price trend of the token. The price of BTC stood at $64,813.21 with a 1.33% decrease in the last 24 hours. The lowest and highest levels of the token in the last 24 hours were recorded as $63,896.09 and $65,994.60, respectively. Bitcoin's dominance stood at 53.89% today, with a 0.13% decrease. It is also worth noting that continuous entries into spot BTC ETFs could pave the way for the next Bitcoin bull run.
The price of ETH fell by 1.62% to $3,428.72 in line with the overall market trend. The cryptocurrency's 24-hour low and high levels were recorded at $3,379.10 and $3,515.54, respectively. It should be noted that updated S-1 forms have been filled out for Ethereum ETFs. However, it has been reported that Grayscale's decision to set a high fee of 2.5% for ETH ETF has sparked debates among market participants. The price of SOL dropped by 1.14% today, reaching $159.11. Solana's 24-hour low and high levels were recorded at $155.07 and $163.58, respectively.
Some cryptocurrency prices are also on the rise
As mentioned before, the XRP price showed significant resilience today, staying above the $0.6 resistance amidst increasing Ripple-SEC settlement speculations. The token traded at $0.6085 with a 2.64% increase in the last 24 hours. Its daily lowest and highest levels were $0.5859 and $0.6366 respectively. The meme coin sector mostly experienced a trading session in the red zone. Dogecoin (DOGE) price declined by 1.82% to $0.1233, while Shiba Inu (SHIB) price fell by 3.48% to $0.00001887. Even Pepe coin dropped by 4.82% to $0.00001187.
Mixed signals came from experts.
The future of Bitcoin remains uncertain. In his latest post on social media platform X, leading commodity trader Peter Brandt issued a bear market warning about Bitcoin. While the cryptocurrency managed to recover relatively quickly from the last market downturn, Brandt notes that it has gone through a series of lower peaks and lower levels. Cryptocurrency market analyst Peter Brandt points to both the potential for rise and fall in his latest comments on Bitcoin. On one hand, he predicts that Bitcoin could reach $150,000 in this cycle. However, on the other hand, he calculates a 25% chance of experiencing a decline before seeing a new peak.
Although I am impressed by the recent rise in Bitcoin $BTC, it is worth noting that the pattern of lower highs and lower lows continues despite the halving, the ETF, and the hype pic.twitter.com/V5M6FFaMpJ
— Peter Brandt (@PeterLBrandt) July 17, 2024
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What's Next for Bitcoin: Analyst Who Knows Every Move Warned!
The cryptocurrency market faced bearish trends again today after a long upward trend in recent days. The price of Bitcoin (BTC) fell to $64,000, worrying investors. Leading cryptocurrencies Ethereum (ETH) and Solana (SOL) also followed this downward movement. However, XRP managed to trade in the green zone despite the general market trend. The global cryptocurrency market value decreased by 1% today to $2.37 trillion. In addition, the total cryptocurrency volume decreased by 21.17% compared to the previous day, reaching $77.19 billion.
What is the current situation of Bitcoin price and other altcoins?
The price of BTC experienced volatility on the basis of relatively low entries into spot Bitcoin ETFs. According to data provided by Soso Value, as of 17 July, entries were $53.35 million, which is consistent with the weakening price trend of the token. The price of BTC stood at $64,813.21 with a 1.33% decrease in the last 24 hours. The lowest and highest levels of the token in the last 24 hours were recorded as $63,896.09 and $65,994.60, respectively. Bitcoin's dominance stood at 53.89% today, with a 0.13% decrease. It is also worth noting that continuous entries into spot BTC ETFs could pave the way for the next Bitcoin bull run.
The price of ETH fell by 1.62% to $3,428.72 in line with the overall market trend. The cryptocurrency's 24-hour low and high levels were recorded at $3,379.10 and $3,515.54, respectively. It should be noted that updated S-1 forms have been filled out for Ethereum ETFs. However, it has been reported that Grayscale's decision to set a high fee of 2.5% for ETH ETF has sparked debates among market participants. The price of SOL dropped by 1.14% today, reaching $159.11. Solana's 24-hour low and high levels were recorded at $155.07 and $163.58, respectively.![Trilyonluk Finans Devinden Kripto Para Hamlesi: Token Çıkaracak!]()
Some cryptocurrency prices are also on the rise
As mentioned before, the XRP price showed significant resilience today, staying above the $0.6 resistance amidst increasing Ripple-SEC settlement speculations. The token traded at $0.6085 with a 2.64% increase in the last 24 hours. Its daily lowest and highest levels were $0.5859 and $0.6366 respectively. The meme coin sector mostly experienced a trading session in the red zone. Dogecoin (DOGE) price declined by 1.82% to $0.1233, while Shiba Inu (SHIB) price fell by 3.48% to $0.00001887. Even Pepe coin dropped by 4.82% to $0.00001187.
The future of Bitcoin remains uncertain. In his latest post on social media platform X, leading commodity trader Peter Brandt issued a bear market warning about Bitcoin. While the cryptocurrency managed to recover relatively quickly from the last market downturn, Brandt notes that it has gone through a series of lower peaks and lower levels. Cryptocurrency market analyst Peter Brandt points to both the potential for rise and fall in his latest comments on Bitcoin. On one hand, he predicts that Bitcoin could reach $150,000 in this cycle. However, on the other hand, he calculates a 25% chance of experiencing a decline before seeing a new peak.
To be instantly informed of the latest developments, follow us on Twitter**, Facebook, and Instagram and join our Telegram and YouTube channels!