The cryptocurrency market has entered into a slightly bearish phase as top tokens continue displaying macro corrections this week. While Bitcoin has dropped below $104,000 today, the top altcoins that are XRP and Solana followed in the footsteps. However, Ethereum price defied all the odds with a slight uptrend.
Amid the rising geopolitical tensions, top analysts fear a possible setback in the shorter time frames.
Bitcoin price recorded a daily high of $105,581.85 while a daily low of $103,646.36 with an intraday trading volume of $47.68 billion, a significant drop of over 17%. This highlights an increased bearish momentum for the largest cryptocurrency in the market.
At the time of writing, BTC price was exchanging hands at $103,867.50 with a dip of over 1% over the last 24 hours. With this, the BTC market capitalization stands at $2.18 trillion with a dominance of 63.9942%.
Moreover, the Ethereum price has witnessed an addition of just over 1%, resulting in it reclaiming the $2,500. The ETH price is ranging between $2,480 and $2,510 over the past hour as per CoinMarketCap data. Adding to this, it has experienced increased whale activity, highlighting increasing optimism among investors.
XRP price mirrors a similar price action as it has experienced a drop of over 1% in its value and is currently at $2.14 with a 37.9% drop in its 24-hour trading volume to $2.902 billion.
On the other hand, the Solana price shows a similar price action by dropping just over 1%. Notably, this suggests a cool-off phase for these crypto tokens in the market.
As per CoinMarketCap data, at the time of writing, the global cryptocurrency market was valued at $3.34 trillion that is an increase of 0.12% today. However, the 24-hour trading volume for crypto markets has dropped by 19% to $112.20 billion.
