ISLAMABAD: The cryptocurrency market faced strong headwinds on Thursday, with the market capitalization losing 5.1 percent to reach $1.72 trillion. As of 1130 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, dipped down to the $43,000 range. BTC slipped by 3.9 percent in the last 24 hours to reach $43,073. The market capitalization of the biggest crypto has reached $843.8 billion with this decrease. Bitcoin has been 0.1 percent down in the past seven days. Following Matrixport’s report on the anticipated rejection of Bitcoin spot exchange-traded fund (ETF) proposals by the US SEC, Bitcoin saw a decline after surpassing the $45,000 mark. This news created panic among certain market players, resulting in significant sell-offs. Despite dropping to a minimum below $41,500, Bitcoin quickly bounced back and reached around $43,000. Bitcoin’s support is now positioned at the $43,000 level, while resistance stands at $43,600. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, shed 5.4 percent to reach $2,221. With this decrease in price, the market capitalization of ETH has reached $267.2 billion. ETH has shed 7.4 percent of its value during the last seven days. Following suit, Binance Coin (BNB) price dipped 3.3 percent to reach $318. The market capitalization of BNB has reached $49.1 billion with this decrease. BNB has shed 3.3 percent of its value during the last seven days. On the other hand, Solana price decreased by 7.2 percent to reach $98. With this decrease in price, its market capitalization has reached $42.3 billion. SOL has shed 6.7 percent of its value during the last seven days. In the same way, the price of Ripple (XRP) decreased by 8.2 percent to reach $0.575. The market capitalization of XRP stands at $31.2 billion with this decrease. XRP has shed 11.1 percent of its value during the last seven days. Popular altcoins including Litecoin (LTC), Cardao (ADA) and Dogecoin (DOGE) landed in the red across the board. The SEI token went on to become the biggest gainer of the lot, with a 24-hour jump of over 12 percent. Terra Classic (LUNC), on the other hand, became the biggest loser with a 24-hour dip of over 15 percent. TLTP
