Cryptocurrency Market Update: The cryptocurrency industry saw a subtle intraday growth, increasing by 0.93% to a total market cap of $2.13 trillion. However, Bitcoin’s (BTC) price slipped by 0.50%, settling at a price tag of $61,311.86. While ETH, SOL, and XRP showed slow movement, meme coins portrayed positive numbers. Contrarily, HMSTR continued its downtrend, a 52% price decline since launch.
Bitcoin Update: $1B Options Expiration Sparks Volatility Concerns
BTC price at the time of press, is changing hands at $61,311.86, with an intraday change of -0.50%. Trading volumes for BTC also dropped by 22.25%, highlighting a cautious stance from investors, in view of Bitcoin’s options expiry.
With ~17,400 Bitcoin option contracts, worth $1 billion, set to expire, the market could experience some volatility. The put/call ratio of 0.75 indicates that more long (call) contracts are expiring, which could push BTC price in either direction.
Curious about BTC’s future price targets? Our Bitcoin Price Prediction answers that and much more!
Altcoins Today: Hamster Kombat (HMSTR) Price 52% Down Since Launch!
Ethereum achieved some pace, rimming up 0.44% to $2,376.54. Solana (SOL) continued its optimistic movement, posting a 1.06% rise to $139.66, while XRP stayed mostly flat, dipping 0.10% to $0.5233. Meanwhile, meme coins like Doge, Shib, and WIF saw slight gains amid a bearish trend, suggesting some resilience in this category. Given this, Hamster Kombat (HMSTR), which is currently down by 1.42%, could see potential upward movement if market momentum picks up.
Interested in the long-term price targets of ETH? Read our Ethereum Price Prediction
Top Gainers:
- FTX Token: $2.39 (+19.20%)
- Beam: $0.01625 (+6.72%)
- Aave: $147.36 (+6%)
Top Losers:
- Sui: $1.75 (-9.01%)
- Wormhole: $0.3154 (-7.90%)
- Ethena: $0.2873 (-5.84%)
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