Bitcoin slips to $70,717 amid profit-taking

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ISLAMABAD
The cryptocurrency market turned to profit-taking on Tuesday, with the market capitalization losing 1.3 percent to reach $2.79 trillion.
As of 1230 hours GMT, the price of Bitcoin, the world’s oldest and most valued cryptocurrency, slipped to $70,717 with a drop of 2.2 percent in the last 24 hours. The market capitalization of the biggest crypto has reached $1.391 trillion with this decrease. Bitcoin has been 8 percent up in the past seven days.
In the last 24 hours, Bitcoin has climbed above $71,000, indicating a bullish sentiment ahead of the halving event. This upward momentum hints at a possible revisit to the record high of $73,777, with a subsequent resistance level at $84,000. Over the past year, Bitcoin has surged by an impressive 154%. Bitcoin continues its uptrend with only 10 days remaining in the much-hyped Bitcoin halving estimated on April 20, 2024.
Following suit, Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, inched down by 0.3 percent to reach $3,626. With this decrease in price, the market capitalization of ETH has reached $435.8 billion. ETH has gained 9.7 percent of its value during the last seven days.
On the other hand, Binance Coin (BNB) price went down by 2 percent to reach $583. The market capitalization of BNB has reached $89.8 billion with this decrease. BNB has gained 4.9 percent of its value during the last seven days.
Similarly, Solana price decreased by 3.4 percent to reach $176. With this decrease in price, its market capitalization has fallen to $78.4 billion. SOL has shed 2.2 percent of its value during the last seven days.
However, the price of Ripple (XRP) increased by 4.5 percent to reach $0.635. The market capitalization of XRP stands at $35 billion with this increase. XRP has gained 8.1 percent of its value during the last seven days.