As the crypto money market continues to rise and fall, the leading crypto currency Bitcoin and altcoins are struggling for further increases. So much so that Bitcoin managed to rise above $ 39,000 again after a few weeks.
With this price increase in Bitcoin, there have been increases in the price of many altcoins, especially Ethereum. Here is the latest situation and current data in the crypto money market;
Bitcoin (BTC) Consolidates
Bitcoin (BTC), the world’s largest cryptocurrency in terms of market value, went through a very difficult period and suffered huge losses in the process.
So much so that the leading cryptocurrency recorded a decrease of up to 50% from the all-time high it reached in November 2021.
Bitcoin is still struggling to get its old price back after these drops. Bitcoin started a new uptrend the other day and managed to reclaim the $39,000 level.
The price started a decline again after surging slightly above the $39,000 level and it seems like it is currently consolidating.
As of the time of writing, the flagship cryptocurrency Bitcoin (BTC) continues to trade at $38,406, down 0.40% in the last 24 hours, according to CoinMarketCap data.
What is the Latest Situation in Altcoins?
These price movements in Bitcoin always have a great impact on the price of altcoins. So much so that with the rise of BTC, the market starts an increase in general, while the opposite can happen with the depreciation of BTC.
Therefore, with the decline in Bitcoin last night, some altcoins also changed direction and started a decline.
Ethereum (ETH), which is the second largest cryptocurrency in terms of market value, continues to achieve very good increases in recent days. The popular altcoin managed to rise above $ 2,800 with the effect of the increase in Bitcoin.
Currently trading at $2,757, ETH is up 0.69% in the last 24 hours.
On the other hand, when we look at other altcoins;
Binance Coin (BNB) is among the cryptocurrencies that have fallen alongside Bitcoin. BNB continues to trade at $381, down 0.22% in the last 24 hours.
In addition, while Cardano (ADA), Solana (SOL) and Ripple (XRP) continued to increase, there were increases by 2.21%, 3.05% and 0.32%, respectively, in the last 24 hours.
The altcoin that experienced the most decline among the top 10 cryptocurrencies in the last 24 hours was Terra (LUNA). LUNA is down about 4% in the last 24 hours and is currently trading at $51.81.