Bitcoin pulls the market down: cryptocurrencies in the red zone
Kyiv • UNN
Bitcoin fell to 9 91,665, dragging the entire cryptocurrency market with it. Ethereum is also showing a 5% drop to 3 3,301 amid declining trading activity.
The fall of Bitcoin pulled down the entire cryptocurrency market. This is evidenced by data from the Coin Market, writes UNN.
Details
The world's largest cryptocurrency has already fallen to 9 91,665, while Ether showed a 5% drop and is now worth 3 3,301.
According to Crypto-news, Ethereum has been showing a sideways trend for several days, as its trading range is narrowing. Analysts ' opinions are divided: some predict a possible collapse by the end of 2024, while others expect positive dynamics. If the ABCDE model is confirmed, the price of Ethereum from 3 3,104 may rise to 3 3,500.
The trading volume of this cryptocurrency also decreased by 19.57% over the past day, which indicates a decline in online activity. Analysts suggest that in the event of a further correction, the price may first fall to 2 2,900 before resuming growth.
Recall
This morning, bitcoin fell by 4.31% to 9 93,909 after Trump announced the possible introduction of new trade tariffs against China. Most other cryptocurrencies also declined, with only Ethereum showing a slight increase.
