Today, the cryptocurrency market has witnessed significant fluctuations, with prices affected by multiple events and developments. Here are the most notable developments:
Bitcoin (BTC):
Significant pullback: Bitcoin price has dropped below $97,000, marking a significant pullback from its high this week.
Old wallet movements: Reports indicate that Bitcoin wallets older than 10 years have moved nearly $20 million, raising questions about the impact this will have on the market.
Altcoins:
XRP surges: XRP has seen a strong rally over the past week, gaining 30% and overtaking Tether (USDT) to become the third-largest cryptocurrency by market cap.
Strong Performance for PENGU: PENGU, the token associated with the Pudgy Penguins non-fungible token (NFT) project, has surged 600% over the past week, driven by its listing on the Bithumb exchange.
News and reports:
iShares Bitcoin ETF Outflows: BlackRock’s iShares Bitcoin ETF has seen record outflows of $188.7 million, raising concerns about future implications for the bitcoin market.
Mastercard-Powered Card Launched in Bahrain: Crypto.com has announced the launch of a Mastercard-powered card in Bahrain, boosting the use of cryptocurrencies in the region.
Analysis and forecasts:
Ethereum Price Prediction: Ethereum price movements have shown a significant improvement after rising by 8.50% in the last 24 hours to settle around $3,474, with strong trading volumes reaching $49.95 billion, amid expectations of achieving $10,000 in 2025.
Altcoin Season: With Bitcoin stabilizing around $98,000, analysts are wondering if altcoin season has already begun, as some of these coins have seen significant gains.
note:
Cryptocurrency markets are constantly volatile, so it is always advisable to follow news and developments periodically and make investment decisions based on accurate and up-to-date information.
