Is a crypto market winter approaching? ❄️ Significant declines raise market concerns 📉
• Bitcoin ($BTC): This week, the price of Bitcoin fell below $97,000, currently around $96,560, with a 24-hour trading volume of $50 billion. Despite the price drop, Bitcoin ETFs have attracted a large influx of funds.
• Ethereum ($ETH): Down 4% in the past 24 hours, currently reported at $3,321. Ethereum ETFs also recorded inflows.
• Ripple ($XRP) & Solana ($SOL): XRP fell 3%, while SOL, with a 7% decline, became one of the worst performers among the top ten cryptocurrencies.
• Meme coins: Meme coins, including Dogecoin ($DOGE) and Shiba Inu ($SHIB), continued the weak trend of Bitcoin, with declines between 3%-5%.
• Highlights and significant drops:
• $HYPE became a market winner, rising 8% in 24 hours.
• $WIF and $ENA saw significant declines of 13% and 11%, respectively.
• Other meme coins like $PEPE experienced declines between 3%-12%.
Overall market sentiment is bearish, with Bitcoin and other major cryptocurrencies showing slight declines in the past hour.
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