On February 22, the three biggest US stock market indices saw a downturn of up to 3%.
- BTC’s market value has decreased to $465 billion as a result of the most recent price decline.
- Its advantage over the alternatives has marginally risen to 42.6%.
- The top three US stock market indices all finished with losses.
Bitcoin’s Failure
Yesterday, Bitcoin failed to surpass $25,000 once more, and the consequent rejection caused it to drop back to a little under $24,000. Most cryptocurrencies have suffered even more, with MATIC, OKB, SOL, and numerous others dropping by about 7%.
Bitcoin Mimics Wall Street
The leading cryptocurrency has experienced extremely significant volatility over the last few days, specifically since the end of last week. On Thursday, it soared to and above $25,000, reaching a six-month high, before dropping quickly to under $23,500.
In the subsequent days, two more efforts were to surpass $25,000, with the most recent occurring yesterday. Even after reaching a high of $25,200, bitcoin failed once more. The subsequent rejection sent it spiraling downward, and early today, bitcoin saw itself falling under $24,000.
This decline coincided with the collapse of Wall Street. The top three US stock market indices all finished with losses. The Nasdaq Composite fell more than 3% in one day, while the S&P 500 and Dow Jones also fell by 2%. BTC’s market value has decreased to $465 billion due to the most recent price decline. Its advantage over the alternatives has marginally risen to 42.6%.
Bitcoin Fails at $25K
A very tumultuous week of trading has ended with Bitcoin rising through $25,000 to reach its highest level since August before sharply falling by about $2,000 in value. The weekend was more tranquil since BTC only spent about $24,500. But on Sunday night, there was yet another price rise toward $25,000, which was halted. The asset fell below $24,000 as a result of the subsequent rejections.
On Monday, the scenario happened once more. This time, BTC temporarily rose beyond $25,200, but as in the past, it quickly fell back by several hundred dollars. The cryptocurrency is currently only a few centimeters from $25,000, and its market valuation is close to $480 billion.
Altcoins in Dark Red
The market caps of Ether and BNB, the two most significant altcoins (apart from stablecoins), have fallen by comparable rates to those of BTC during the last day (between 2% and 3%). As a result, BNB is trading below $310, and ETH is below $1,650. Cardano, Polkadot, and Shiba Inu show more significant daily losses (-4%). From the top 15 alternates, MATIC and Solana have suffered the most casualties, falling by more than 6% in a day.
Avalanche, Litecoin, and Dogecoin have all seen negligible rises. Yet, by increasing by approximately 9% daily, Filecoin has continued its recent run. As a result, FIL is currently trading above $8.6. Overall, though, the market capitalization of all cryptocurrencies lost over $50 billion at one point and has fallen below $1.1 trillion on CMC.
CFX Skyrockets Triple Digits
Recent reports assert that China may have been altering its tune indirectly by discreetly supporting Hong Kong and its acceptance of the asset class while the US regularly scrutinizes the industry. As a result, it is partly predicted that the value of tokens associated with the country with the largest population will increase.
This is the situation with NEO, which is up 76% weekly and roughly 30% daily. Although 76% higher than the prior week was impressive, Conflux’s 510% increase was far superior. Conflux is the first public blockchain with a presence in China, and its native token, with a price of $0.31, ranks among the top 100 most valuable coins.
