Bitcoin’s (BTC) Recent Performance and the Decline in the Crypto Market
Bitcoin (BTC), the leading cryptocurrency that has lost more than 4% in the last 24 hours, dropped below $26,100. The crypto market started the day with a decline, influenced by the losses in BTC. According to CoinMarketCap (CMC) data, the total market value of the crypto ecosystem dropped to $1.05 trillion.
Current Situation of Bitcoin (BTC)
The cryptocurrency market, which experienced a strong upward momentum after Grayscale won the SEC case on Tuesday, started to decline again during the week. Bitcoin (BTC), the leading cryptocurrency that has been losing value in recent days, experienced a downward momentum by losing more than 4% in the last 24 hours, dropping below $26,100.
Many high-market-cap cryptocurrencies recorded losses in various proportions since BTC dropped below $26,100 in the morning. According to CMC data, the total market value of the crypto ecosystem dropped to $1.05 trillion.
Furthermore, there has been a significant increase in volatility in the cryptocurrency market. According to Coinglass data, approximately $120 million worth of short and long positions were liquidated in the crypto market in the last 24 hours.
Crypto Market in Decline
With their recent losses, Ethereum () started trading from $1645, BNB from $214, from $0.5, Cardano () from $0.25, Dogecoin from $0.064, and Solana (SOL) from $19.8. Additionally, Token (KCS), Stacks (STX), Fantom (FTM), and Optimism (OP) were among the cryptocurrencies with the highest market value among the top 100 cryptocurrencies, experiencing the highest percentage of losses after their recent declines.
Despite the downward trend in the cryptocurrency market and the value losses in Bitcoin (BTC), there were also cryptocurrencies that continued to rise during the day and stood out in the market. Toncoin (TON), THORChain (RUNE), Maker (MKR), and TRON (TRX) were the cryptocurrencies with the highest market value that experienced the highest percentage of gains with their recent value increases.
