🚀🚀Hold onto your hats, BTC enthusiasts! The crypto market has been on a rollercoaster ride over the past 24 hours, with ETF approvals causing quite a stir. 🎢🎢
After the initial hype of the business week, the largest cryptocurrencies, including BTC, have taken a dip. BTC, which was sitting comfortably at around $67,000, took a nosedive on Monday evening following reports that the SEC could potentially approve a spot Ethereum ETF by the end of the week. 😱😱
The news sent BTC and the rest of the crypto market on a wild ride, with BTC soaring by five grand in just a few hours, reaching its highest price tag in almost two months of nearly $72,000. 🚀🚀
However, the rally didn't last long and BTC began to lose value gradually, trading around $70,000 until yesterday evening when it dropped a few grand to under $68,000. This happened just hours before the SEC's deadline to decide on ETF applications. 📉📉
The rollercoaster ride continued when the regulator approved eight Ethereum ETFs. BTC dropped to $66,400 before shooting up by two grand. However, it has since lost some ground and is now struggling below $67,000. Its market cap is down to $1.310 trillion, with a dominance over the alts of 50.2%. 😰😰
The Ethereum ETFs also impacted the price of ETH, which skyrocketed by over 20% on Monday to a six-week peak of over $3,900. It has since dropped 4% and now sits at $3,655. Other larger-cap alts like Solana, Dogecoin, Toncoin, Cardano, Avalanche, Polkadot, and Shiba Inu have all dumped by 5-8%. BNB, XRP, TRX, and BCH are also in the red. 😓😓
The total crypto market cap has lost over $100 billion since yesterday and is down to $2.617 trillion. Buckle up, folks, it's going to be a bumpy ride! 🎢🎢