The price of Bitcoin has been fluctuating throughout this week, moving between $58,000 and $62,000. While Ethereum and Solana continued to decline, TON managed to stay in positive territory. The decline experienced by Bitcoin caused a significant increase in the trading volume of the crypto market.
Volatile Price Movements in Bitcoin
While the volatile price movements continue in the cryptocurrency market, it is observed that Bitcoin is the asset most affected by this situation. While the price of BTC has not been able to find a clear direction since last week, it is seen to move in a wide range. Having lost the struggle to stay above $ 60,000 in recent days, the price of Bitcoin has experienced a wide fluctuation, and this situation has also affected altcoins.
Latest Situation and Market Effects
The major price crash following the events centered in Japan last week led to a sharp decline in Bitcoin. BTC fell to $48,800, then rose again to over $60,000. However, this movement did not continue and the price continued to fluctuate constantly. Today, BTC is seen to be fluctuating rapidly between $62,000 and $58,000.
Following yesterday’s 4.39% drop, BTC’s price fell by 0.43% today to $58,249. After the price drop, market volume dropped below $1.15 trillion to $1.149 trillion. There was a notable increase in 24-hour trading volume, rising from $31.7 billion to $35.7 billion. This may have increased investors’ enthusiasm for buying at low prices.
Situation in Altcoins
Bitcoin’s decline also affected altcoins. However, the fact that TON is still in positive territory has attracted investors’ attention. Ethereum (ETH), although it has performed better weekly compared to BTC, fell by 1.86% today to $2,601. While Ethereum’s market volume fell to $312 billion, its 24-hour trading volume remained stable around $16 billion.
BNB is down 0.55% in the last 24 hours to $518. Solana (SOL) is also trading down 1% to $142.8.
TON’s Performance
TON, which stands out as the winner of the day, continues to move with a power beyond the market. TON increased by 7.58% throughout the week, and reached $6.85 with a 2.34% increase in the last 24 hours, delighting its investors. However, while TON's market volume increased to $17.2 billion, its trading volume seems to be relatively weak compared to its competitors in the top 10 with $466 million. This situation may have caused some concern among investors.
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