ISLAMABAD
The cryptocurrency market continued with its bearish trend on Tuesday, with the market capitalization losing 0.3 percent to reach $1.09 trillion.
As of 1325 hours GMT, Bitcoin, the world’s oldest and most valued cryptocurrency, regained the $26,000 mark. BTC shed 0.3 percent in the last 24 hours to reach $26,013. The market capitalization of the biggest crypto has reached $506.5 billion with this decrease. Bitcoin has been 0.2 percent down in the past seven days.
Bitcoin experienced a drop below $26,000 over the past 24 hours, but swift recovery pushed it back above, settling at approximately $26,070. This month, BTC has witnessed an 11 percent decline, driven by escalated selling pressure and the absence of fresh market catalysts. The ongoing tug-of-war between buyers and sellers implies a potential sideways trajectory, with BTC likely ranging between $25,900 and $26,300 in the immediate future.
Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 0.5 percent to reach $1,643. With this decrease in price, the market capitalization of ETH has reached $197.6 billion. ETH has been 1.3 percent down in the past seven days.
However, Binance Coin (BNB) price inched up by 0.2 percent to reach $218. The market capitalization of BNB has reached $33.5 billion with this increase. BNB has gained 4 percent of its value during the last seven days.
Ripple (XRP) price decreased by 0.4 percent in the past 24 hours to reach $0.516. The market capitalization of XRP stands at $27.3 billion with this decrease. XRP has shed 0.4 percent of its value during the last seven days.
In the same way, Cardano (ADA) price slipped 0.4 percent to reach $0.261. With this decrease in price, its market capitalization has reached $9.1 billion.
Other popular altcoins including Dogecoin (DOGE), Litecoin (LTC), and Solana (SOL) traded sideways across the board. The XDC Network (XDC) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 8 percent. SUI became the biggest loser, with a 24-hour dip of over 4 percent.
