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Reading: Cryptocurrency Market is in Red! Bitcoin and Altcoins Fell Hard!
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EdaFace Newsfeed > Latest News > Crypto News > Cryptocurrency Market is in Red! Bitcoin and Altcoins Fell Hard!
Crypto News

Cryptocurrency Market is in Red! Bitcoin and Altcoins Fell Hard!

vitalclick
Last updated: November 1, 2024 5:51 am
6 months ago
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Contents
The Decline in Bitcoin and AltcoinsETF Flows and Market TrendsShort-Term Movements and Market Speculations

A complex picture has emerged in the cryptocurrency market today. Bitcoin (BTC) $72,362 The price dropped to 69 thousand dollars. Ethereum (ETH) $2,641Leading altcoins such as , Solana (SOL) and XRP also continued to trade in the red zone. While the global crypto market value decreased by 3.76% to $2.34 trillion, the total market volume increased by 5.29% to $92.45 billion.

The Decline in Bitcoin and Altcoins

Bitcoin lost 4% of its value in the last 24 hours and closed the day at $69,289. While Ethereum price fell to $2,498, Solana and XRP dropped between 1% and 5%. However, Celestia (TIA) rose noticeably and became the cryptocurrency with the most gains, defying the market decline.

Celestia, Kaia and Maker were among the cryptocurrencies that increased the most today. On the other hand, the cryptocurrencies that fell the most were Immutable, dogwifhat and BRETT. Celestia rose 5% to $4.89, while Immutable fell 13% to $1.17.

dogecoin $0.170954 and meme coins such as Shiba Inu also lost value. Other meme coins such as PEPE, WIF and POPCAT followed the market, falling between 4% and 8%.

ETF Flows and Market Trends

Investments in spot Bitcoin and Ethereum ETFs also came to the fore. As of October 31, $32.14 million was invested in Bitcoin ETFs and $13.06 million was invested in Ethereum ETFs. Additionally, ETF applications for Solana were also reviewed by the US Securities and Exchange Commission (SEC).

Short-Term Movements and Market Speculations

In the latest hourly charts, Bitcoin increased by 0.13% and Ethereum increased by 0.19%. These slight increases led investors to short-term movements.

Fluctuations in the cryptocurrency market push investors to take into account the uncertainties in the market. While there is a need to change strategy during this period, it is important to be careful against volatility. Price movements, especially of major cryptocurrencies, are seen as one of the main factors determining the general market sentiment.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.

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