Bitcoin Today: Market Retreats While COAI Soars 50%
- Bitcoin is currently trading at $111.577
- Altcoins extend losses with ETH and XRP falling
- COAI rises 50% and defies market trend
Bitcoin's recent recovery attempts were halted on Thursday, with the asset falling back to $111.577, with no gains for the day. Selling pressure persists on the market, and altcoins are following suit, with Ethereum (ETH) falling back to near $4.000 and XRP trading around $2,40.
Last week, Bitcoin had already faced a severe correction, plummeting more than $20.000 and hitting a multi-month low near $101.000. This movement wiped out $19 billion in leveraged positions and affected about 1,6 million traders, according to market data.
After the sell-off, the asset attempted to rally, rising to $110.000 and later reaching $116.000 on Tuesday. However, bears regained control, pushing the price to $113.000 on Wednesday and back below $111.000 on Thursday. As a result, Bitcoin's market capitalization fell to nearly $2,2 trillion, while its dominance over other cryptocurrencies rose to 57,2%.
Altcoins performed largely negatively. Ethereum fell 4,4%, and XRP lost about 5% on the day. Other cryptocurrencies such as SOL, ADA, LINK, DOGE, XLM, HYPE, SUI, AVAX, HBAR, and MNT saw declines of up to 8%, reflecting the risk-off mood. Double-digit declines also drew attention: TAO (-15%), ASTER (-13%), ZEC (-12%), and IP (-10%) were among the biggest decliners in the market.
Going against the trend, COAI continued to stand out with a 50% jump in the last 24 hours, taking its price above US$ 23, consolidating itself as the main positive exception of the day.
The total market value of cryptocurrencies has fallen by around $100 billion since yesterday, totaling $3,85 trillion globally.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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