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March 1, 2024
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Bitcoin

Bitcoin Continues Bleeding At $39K As AKT & BLUR Rise


The crypto market prices continued to dip today with major cryptocurrencies bleeding due to selling pressure from traders. Bitcoin (BTC), the largest crypto by market cap, fell below the $40,000 mark while some smaller altcoins outperformed the significant players in the domain.

Today’s crypto prices suggest notable lows for both Bitcoin and Ethereum (ETH). This comes after the hype around Spot Bitcoin ETFs began slacking off. However, crypto analysts deem the recent bearish trend as an opportunity to ‘buy the dip’ as they’re optimistic about the crypto arena’s long-term potential.

Major Crypto Prices Today

Bitcoin, the world’s oldest crypto, saw its price extending lower than the $39,000 level and rebounding thereafter. The Bitcoin price saw a 1.25% decline, settling at $39,637.47 at the time of writing on Wednesday, January 24. Whilst, it’s trading volume dipped by 1.99% to $30.19 billion in the last 24 hours. The digital currency boasted a market cap of $777.14 billion

Looking at other cryptocurrencies, the Ethereum price plummeted by 5.47% to $2,218.93 at press time. On the contrary, it recorded a 21.76% hike in its trade volume, reaching $16.59 billion. Moreover, Binance Coin (BNB) slipped by 4.85% to $295.80, while its 24-hour trade volume rose by 14.81% to $1.06 billion.

Furthermore, Solana experienced a 2% slump in price, settling at $84.05. On the contrary, it registered a 19.62% increase in trade volume to $3.14 billion. Whilst, XRP saw a 2.82% decline, reaching $0.5158, with a 25.92% hike in trading volume to $1.41 billion.

Meanwhile, Cardano’s price dipped by 3.72% to $0.4665. However, it witnessed a 26.13% increase in its 24-hour trading volume, reaching $557.39 million. Whilst, in the much-hyped meme coin market, Dogecoin retreated 3.29% lower to $0.07833 while its rival, Shiba Inu, plunged 8.35% and traded at $0.000008804.

Also Read: Ethereum ETFs: Hester Pierce Claims SEC Won’t ‘Repeat Same Mistakes’

Top Crypto Gainers & Losers Today

The Pepe coin, a trending meme crypto, extended further losses as traders made a shift to other safer options. The Pepe coin price slumped by 3.60% to $0.000001029. Whilst, its trading volume surged by 16.54% to $71.54 million.

Akash Network (AKT), an AI crypto, recorded a 14% increase, defying the bearish sentiment in the market. The AKT price soared by 14.38% to $2.76 with a market cap of $623.39 million. In contrast, its 24-hour trade volume dropped by 14.51% to $5.76 million.

Blur (BLUR), one of trending virtual currencies, recorded a notable uptick as well. Blur’s value increased by 8.88% to $0.664. In addition, its trade volume spiked by a 50.08% to $405.74 million. Moreover, it attained a high of $0.6667 during the bullish rally.

Also Read: Jim Cramer Embraces ‘Number Go Down’ Theme As Bitcoin Drops 20% From High



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