Crypto Market Dip: BTC & ETH Prices Fall
Crypto Market Update (February 24): The cryptocurrency market opened the week with a cautious tone, as Bitcoin (BTC) retreated to the $95,000 level. Ethereum (ETH), Solana (SOL), and XRP also saw declines ranging from 1% to 5%, mirroring Bitcoin's movement. Meme coins also experienced price drops.
Crypto Market Volatility
According to CoinMarketCap, the global crypto market cap fell by over 1%, reaching $3.15 trillion at the time of writing. Coinglass data indicated over $191 million in liquidations within the last 24 hours, highlighting the market's volatility.
Bitcoin (BTC) Price Analysis
At press time, BTC saw a 1% decrease, trading at $95,534.42. The intraday range was between $95,270.45 and $96,594.97, with $25.08 million in liquidations. Despite the price drop, Bitcoin's dominance increased by 0.31% to 60.31%.
Ethereum (ETH) Price Analysis
ETH experienced a 2% drop in the past 24 hours, settling at $2,710. The coin's high and low for the day were $2,850.61 and $2,714.12, respectively, with $46.06 million liquidated. Ethereum's market dominance remained at 10.4%.
XRP Price Analysis
XRP fell by approximately 2.5%, trading at $2.48. The intraday range was $2.49 to $2.60, with $7.54 million in liquidations. Resistance is noted around the $2.60 level.
Solana (SOL) Price Analysis
SOL experienced a sharp 5.5% decline, currently trading at $160.78. The 24-hour range was $160.85 to $173.04, with $15.83 million in liquidations.
Meme Coin Market Performance
Dogecoin (DOGE) fell by 5.5% to $0.2302, Shiba Inu (SHIB) dropped 4% to $0.00001491, and Pepe Coin (PEPE) decreased by 4.5% to $0.000009024. Meme coins generally followed the broader market trend.
Top Crypto Performers
- Sonic (S): Price: $0.9076, 24-Hour Gains: +12%
- Cronos (CRO): Price: $0.08952, 24-Hour Gains: +5%
- Monero (XMR): Price: $236.29, 24-Hour Gains: +1.5%
Top Crypto Losers
- Raydium (RAY): Price: $3.24, 24-Hour Loss: -24%
- Hyperliquid (HYPE): Price: $22.38, 24-Hour Loss: -8%
- Story (IP): Price: $4.03, 24-Hour Loss: -8%
Despite the current volatility, analyst ‘Titan of Crypto’ expressed optimism on X, predicting a strong altcoin comeback.
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Disclaimer: This information is for educational purposes only and is not financial advice. Conduct thorough research before investing in cryptocurrencies.