The cryptocurrency market continues to follow a volatile trend following the US Federal Reserve’s harsh stance against interest rate cuts. Leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL) have been under pressure amid rising volatility. Here is a detailed analysis of today’s crypto prices.
Bitcoin and Ethereum: Leading Cryptos in the Market
Bitcoin'in$BTC
its price has fallen by 2.5% in the last 24 hours and is currently trading at $96,236. The lowest price level was recorded at $95,137 and the highest at $98,973. Bitcoin’s market dominance continues strongly at 57.05%. While there are positive signals in the long-term outlook, the purchase of $21 million worth of BTC by energy management company KULR is creating optimism among investors about the future.
Ethereum$ETH
is currently trading at $3,380, down 2%. The daily low was $3,302.31, while the high was $3,446. The decline in Ethereum is in line with the general market trend. However, data from Coinglass shows that ETH futures open interest increased by 1% to $23.47 billion. In addition, derivatives trading volume increased by 29% to $35.69 billion.
Solana and XRP: Volatile Price Movements
Solana$SOL
its price has fallen 3% in the last 24 hours to $190.31. The lowest level during the day was $186.86 and the highest was $195.27. Solana’s price movements have been volatile due to general uncertainty in the market. According to Coinglass data, while Solana’s futures open interest decreased by 3%, its derivatives trading volume increased by 24%.
The price of XRP fell by 3.5% to $2.18. The lowest price was $2.13 and the highest was $2.25. Although the Ripple community is trying to create an optimistic atmosphere with positive legal developments and strong technical analysis, the token is still feeling the pressure in the market. However, recent reports from CoinGape suggested a price target of $27 for XRP, which led to different speculations among market participants.
Dogecoin is trading at $0.3156, down 3%. Shiba Inu is down 2% to $0.00002182. Other meme cryptos like PEPE, BONK, and PENGU are also down between 1% and 13% on the day. Market experts believe that the current bull cycle is not over yet and the market may recover. BTC and ETH are up slightly by 0.06% and 0.15% on an hourly basis, respectively. This is creating renewed optimism among investors for the future.