Bitcoin (BTC) price, which had risen by breaking through $95,000 after two months, has fallen to the $93,000 range and appears to be taking a breather. Among major cryptocurrencies, only XRP (formerly Ripple) rose alone due to the favorable news of futures ETF approval.
According to CoinMarketCap, a global cryptocurrency market tracking site, BTC was traded at $93,917.32 as of 8 am on the same day. This is a 0.94% decline from the previous day. At the same time, Ethereum (ETH), the leading altcoin, recorded a 1.29% drop at $1,793.79. XRP rose 2.99% and was traded at $2.26 per coin. Solana (SOL) fell 0.50% to $148.54.
Major cryptocurrency prices also rose simultaneously on domestic exchanges. At Bithumb, BTC recorded 135,401,000 won, down 0.22% from the previous day. ETH dropped 0.31% to 2,587,000 won, while XRP was trading at 3,258 won, up 0.99%.
BTC price had plummeted to the $74,000 range on the 7th due to the aftermath of former President Trump's trade war but recovered to $90,000 on the 22nd. It continued its upward trend, showing a decoupling movement from US tech stocks. With large institutional funds flowing into the US BTC spot ETF, it recovered the $95,000 range for the first time in over two months on the 26th. The industry views BTC as taking a breather around the major resistance line of $95,000.
While most cryptocurrencies showed a slight decline, only XRP's price among major altcoins rose. This is interpreted as a result of the US Securities and Exchange Commission (SEC) approving the XRP futures ETF requested by the investment firm ProShares.
The Crypto Fear and Greed Index from cryptocurrency data analysis company Alternative.me dropped 4 points from the previous day to 61 points, indicating a 'greed' state. The index means investment sentiment is constrained when closer to 0 and market overheating when closer to 100.
- Reporter Shin Jung-seop
- jseop@sedaily.com
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