Current Outlook on the Market: Latest Situation in Bitcoin and Altcoins!
Cryptocurrency market continues to decline. In particular, the loss of value in the leading cryptocurrency Bitcoin (BTC) greatly affects the rest of the market.
Let’s take a look at the latest situation and current levels in Bitcoin and altcoins in this article .
Bitcoin ( BTC ), the world’s largest cryptocurrency in terms of market value, managed to climb to the level of $ 48,000 in the past month, but BTC could not continue its increase.
So much so that with these consecutive decreases, the flagship cryptocurrency retested the $ 39,000 levels. Bitcoin, which has been moving between $ 39,000 and $ 40,000 for a while, continues to consolidate.
As of the time of writing, Bitcoin (BTC) continues to trade at $40,457, down 0.22% in the last 24 hours, according to CoinMarketCap data.
What’s the Latest Situation in Altcoins?
The sharp declines in the leading cryptocurrency Bitcoin deeply affected the entire cryptocurrency market. Many altcoins faced huge losses in these declines.
If we look first at Ethereum ( ETH ) , the world’s second largest cryptocurrency by market cap , the popular altcoin is struggling to hold above the critical level of $3,000.
While the popular altcoin tested the $3,550 level when Bitcoin reached the $38,000 level, it fell back to the $3,000 level with the declines.
As of writing , Ethereum continues to trade at $3,042, up 0.09% in the last 24 hours, according to CoinMarketCap data.
When we look at other cryptocurrencies in the top 10, the situation is as follows;
Binance Coin (BNB) continues to trade at $415, down 0.10% in the last 24 hours, Ripple (XRP) is down 0.86% at $0.77 in the last 24 hours, Solana (SOL) is up 0.33% in the last 24 hours. Cardano (ADA) is up 1.13% in the last 24 hours at $0.94, Terra (LUNA) is up 0.77% at $81 in the last 24 hours and Avalanche ( AVAX) is up 0.76% at $77 in the last 24 hours. continues.