Bitcoin Takes a Dip
Bitcoin (BTC), the dominant force in the cryptocurrency market, is experiencing a noticeable decline. Trading at $64,147.88, Bitcoin has dropped 2.24% in the last 24 hours. Over the past week, it has decreased by 4.42%, adding to a 9.45% decline over the past 30 days. This downturn brings Bitcoin's market cap to a substantial $1.264 trillion with a circulating supply of 19,714,778 BTC.
Ethereum Follows Suit
Ethereum (ETH) is also seeing red today. Currently priced at $3,480.14, Ethereum has fallen 2.92% in the past 24 hours. Despite this daily drop, Ethereum’s weekly performance shows a smaller decline of 1.17%. However, the 30-day trend reveals a 4.68% decrease. Ethereum's market cap stands at $425.54 billion, with 122,276,728 ETH in circulation.
Solana's Steeper Descent
Solana (SOL) is facing a significant downturn. It’s priced at $131.23, down 3.89% in the last 24 hours. This decline is part of a larger 11.54% decrease over the past week and a severe 27.63% drop over the past month. Solana’s market cap is $60.63 billion, with a circulating supply of 462,010,674 SOL.
Immutable's Challenging Month
Immutable (IMX) is also struggling, priced at $1.57 after a 2.61% decrease in the past 24 hours. Over the last seven days, IMX has plummeted 13.45%, and its 30-day performance shows an even more dramatic decline of 38.60%. The market cap for Immutable is $2.36 billion, with 1,507,875,589 IMX in circulation.
Maker's Resilient Performance
Contrasting the downward trend, Maker (MKR) shows resilience. Maker is trading at $2,420.64, experiencing only a minor 0.32% decrease in the last 24 hours. Impressively, Maker has risen 6.22% over the past week. Nonetheless, its 30-day performance reflects a 22.27% decline. Maker's market cap is $2.25 billion with a circulating supply of 928,666 MKR.
Market Analysis
The overall market sentiment today leans bearish, with major cryptocurrencies like Bitcoin and Ethereum experiencing noticeable declines. Solana and Immutable are facing steeper challenges, with significant drops in their prices over the past month. In contrast, Maker shows some signs of strength, managing a weekly gain despite a slight daily decrease.
Investors should remain cautious, keeping an eye on market trends and potential recovery signals. The current downturn presents both risks and opportunities for those engaged in the volatile crypto market.
