The recent rise in the crypto world continues. Bitcoin (BTC) maintains its $ 56,000 level, while Ethereum (ETH) is trading above $ 2,500. Solana (SOL) has gained about 10% in the last 24 hours, while XRP is also showing a positive performance. The total crypto market cap increased by 1.66% to $ 2 trillion. However, the daily trading volume decreased by 49.85% to $ 104.79 billion.
Latest Situation in Bitcoin and Altcoin Prices:
Bitcoin (BTC): Today, the BTC price is trading at $56,918.65, which indicates a 2.18% increase from the previous day. Bitcoin’s market dominance increased by 0.04% to 55.87%. However, according to Soso Value data, Bitcoin ETFs experienced an outflow of $148.56 million as of August 6.
Ethereum (ETH): ETH price increased by 0.71% in the last 24 hours to $2,512.70. BlackRock’s Ethereum ETF (ETHA) made an inflow of $109.9 million on the same day. Ethereum’s market value was recorded as $302.5 billion today.
Solana (SOL): SOL price increased by 10.50% in the last 24 hours to $153.17, with a market value of $71.58 billion.
XRP: XRP price rose by 1.09% to $0.5178.
Dogecoin (DOGE): DOGE gained 1.44%, while Shiba Inu (SHIB) gained 0.65%. Altcoins such as PEPE, WIF, and FLOKI also gained between 5% and 20% in the last 24 hours.
Declining Altcoins: Akash Network (AKT), Maker (MKR), Brett (BRETT), and OKB (OKB) showed negative performance.
Morale from Japan to Markets:
Global stock markets are also experiencing activity. Bank of Japan Governor Shinichi Uchida announced that they may review the interest rate hike decision in the event of major market instability. Following this statement, the Nikkei 225 index rose by 2.5% and exceeded the 35,000 level. The volatility experienced following the Bank of Japan's (BOJ) interest rate hike decision last week had affected global markets. As we reported at Kriptokoin.com, Japan's statements were also effective in crypto markets. Uchida's statements increased investor morale.
Crypto markets have been showing a recovery in recent days. Bitcoin price has increased by 2% and is approaching the $57,000 level. Analysts predict that the rise in global stock markets could push Bitcoin price above $60,000. In addition, interest in Ethereum ETFs continues. BlackRock’s ETHA fund has seen significant inflows, reflecting institutional investors’ confidence in Ethereum. In summary, crypto markets and global stock markets have been on a positive track in recent days. The Bank of Japan’s statements have supported the markets. However, experts emphasize that the US economy and geopolitical risks should be closely monitored.
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I EXPLAIN IN DETAILED.
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