Today, crypto markets are showing significant bullish momentum as Bitcoin (BTC) approaches $57,000 levels. Leading altcoins also follow this movement, increasing optimism in the market.
Big Rise in Bitcoin$BTC
Bitcoin (BTC) price made a significant comeback from the recent downward trend and briefly crossed the $58,000 level within 24 hours. Currently, BTC is trading at $56,895.42, which represents an increase of 3.53% since yesterday. The lowest and highest prices of Bitcoin in the last 24 hours were recorded as $54,891.63 and $58,131.34 respectively.
Bitcoin's market dominance decreased to 54.54%, showing a decrease of 0.43%, which can be interpreted as a possible turnaround signal in the altcoin market. The market value of BTC is around 1.12 trillion dollars.
Ethereum Price and ETF Developments$ETH
Ethereum (ETH) price is trading at $3,051.78, up 5.90% in the last 24 hours. The daily low and high prices of ETH were recorded at $2,877.20 and $3,090.66 respectively. This rise has created optimism in anticipation of the imminent launch of ETH ETFs. Grayscale Investments announced the initial issuance and distribution dates of the new Grayscale Ethereum Mini Trust shares, while 21Shares filed its updated supplementary form S-1 for its spot ETH ETF.
Rise in Solana and XRP$SOL
Solana (SOL) increased by 6.92% in the last 24 hours, reaching $140.06. SOL's daily lowest and highest prices were recorded at $130.07 and $141.63, respectively. In a significant development, Cboe filed forms 19b-4 for the spot Solana ETF on behalf of 21Shares and VanEck. This step is considered a positive step for Solana's future token economy.
XRP increased by 4.57% to $ 0.4334. The daily lowest and highest prices of XRP, supported by Ripple Labs, were recorded as $0.4142 and $0.4421, respectively.
Performance of Other Cryptocurrencies
Dogecoin (DOGE) increased by 0.13% to $0.1081, while Shiba Inu (SHIB) increased by 5.62% to $0.00001641. Bonk (BONK), Pepe coin (PEPE) and some other cryptocurrencies also made significant gains.
While Bitcoin Price Rising, These Altcoins Declined
JasmyCoin (JASMY) fell 3.21% to $0.02279, while Avalanche (AVAX) fell 0.99% to $25.29. Tether Gold (XAUt) fell 0.78% to $2,365.60.
As a result, some obstacles are visible on the hourly charts of BTC and ETH, indicating potential fluctuations in the coming days. It is important for investors to do their own research and exercise caution before trading in volatile markets.
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