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The cryptocurrency market has been experiencing a gradual decline over the last 24 hours, resulting in a loss of approximately $9 billion. This downturn is primarily attributed to altcoins, which have been showing minor decreases across the board.
At the same time, Bitcoin’s price remains stagnant at the same level as yesterday.
Bitcoin Struggles at $30K
The price of Bitcoin has not been able to surpass the $30K mark. Furthermore, it seems that bearish sentiment is attempting to dominate the market, successfully driving the price down to around $29.6K.
However, buyers intervened, pushing it back up to its current trading level of approximately $29.9K.
Source: TradingView
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Notably, Bitcoin’s dominance has risen by about 0.2% in the past 24 hours. While this may appear to be a minor increase, it indicates that BTC has performed better than altcoins and has captured a larger share of the market.
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Regarding altcoins, the majority are experiencing losses.
Altcoins in Decline
Source: Quantify Crypto
The cryptocurrency that distinguishes itself is Kaspa, which has risen significantly by 14.4% in the last 24 hours, followed by XDC Network, which has also increased by around 9%. It is noteworthy that XDC was the top performer yesterday. Conversely, Stellar’s XLM is the worst performer today, having dropped by 6.5%, closely trailed by XRP, which has decreased by 4.5%.
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Disclaimer: Information found on CryptoPotato reflects the views of the quoted writers. It does not represent the opinions of CryptoPotato regarding whether to buy, sell, or hold any investments. You are encouraged to perform your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more details.
Cryptocurrency charts by TradingView.
