The crypto market witnessed mixed price actions with notable price corrections from leading cryptocurrencies while others rallied briefly.
Following the negative trend in crypto prices over the last day, the global crypto market capitalization declined by 1.37% in the previous 24 hours, sitting at $2.39 trillion as of writing, according to data provided by CoinMarketCap.
Nonetheless, the market recorded an overall trading volume of $64.58 billion, a slight increase of 3.05% over the past 24 hours.
Bitcoin Dips Following U.S Government’s Sell-off
The last day saw Bitcoin adopt a downside trajectory as the coin struggled resiliently under pressures induced by the U.S. government’s massive sell-off yesterday.
The world’s largest cryptocurrency tumbled massively below the $69000 mark it achieved yesterday as the U.S. government reportedly sold off $2 billion worth of Bitcoin. Notably, Bitcoin is trading at $66268, a decrease of 1.60% over the last day.
SOL and BNB also mimicked this negative momentum as their prices plunged by 2.66% and 0.89%, respectively. SOL and BNB are trading at $180 and $574, respectively, as of writing time.
Bitcoin still dominates the crypto market with 54.8% of the total market capitalization. Meanwhile, 81% of investors still think of the coin as bullish.
ETH and XRP soar
In a surprising turn of events, Ethereum and XRP were seen defying the negative trend looming in the crypto market today as Ethereum surged a bit while XRP recorded gains of more than 5%.
Over the last 24 hours, Ethereum has recovered most of its losses as of the early hours, surging decently by 1.11% to $3318. XRP, on the other hand, surged the most, trading at $0.6297 as of writing time. This represents an increase of 5.75% over the last day.
