Last night, significant developments occurred one after another. In light of these developments, notable movements were observed in the prices of Bitcoin and altcoins. After Joe Biden announced his withdrawal from the presidential election, attention turned to Bitcoin, which momentarily dropped, causing concern among investors. However, subsequent events revealed a positive market outlook, paving the way for levels not seen in a long time. As of the time of writing, prices appeared to have become more stable. So, what is currently happening in the cryptocurrency world?
What is Bitcoin’s Current Price?
BTC price rose above $68,400 following the price movement early in the morning but then pulled back slightly. Despite this, the price movement in the last 24 hours indicated only a 0.87% increase, with the price around the $67,652 region.
Bitcoin’s market cap stood at $1.335 trillion, while the 24-hour trading volume was $28.98 billion. The lowest price seen for BTC in the last 24 hours was $65,800, while the highest value was $68,480. On the other hand, the dominance of the group representing large investors, known as whales, increased by 0.08% to 54.26%.
Ethereum Price Outlook
Looking at Ethereum, which is undeniably at the top of altcoins, the price experienced a decline of less than 1% in the last 24 hours, trading at $3,492. While the excitement continues before the ETFs start trading, the market cap has reflected a decline to $419 billion.
Ethereum data showed the lowest value in the last 24 hours was $3,415, while the highest value was $3,560. All available information indicates that the Ethereum ETF will start trading tomorrow, and there is curiosity about what level the Ethereum price will reach during this process.
Solana Commentary and Price
SOL, which has hosted some of the biggest ups and downs in the cryptocurrency world, rose by an impressive 4.63% today, reaching $178.42. From falling below $10 at the beginning of 2023 to rising to $200 in the early months of 2024, there are many predictions that SOL could rise to $500 and $1000 in the future.
On the other hand, the TVL of the Solana ecosystem reached a new peak, which could indicate that SOL is accelerating towards the $200 level.
XRP Latest Status
XRP, at the center of the Ripple-SEC lawsuit, considered one of the biggest uncertainties in the market, saw a 1.11% decline in the last 24 hours, trading at $0.5874.
The ongoing Ripple-SEC lawsuit, unresolved for over three years, is known to exert significant pressure on XRP. Despite this, the XRP price increased by 10% in the last 7 days and 20% in the last 30 days. Last summer, after an interim decision, Ripple achieved a small victory, causing the XRP price to approach $1 but not surpass it. Investors are now curious about when XRP will reach $1.
DOGE and SHIB Price Outlook
Finally, looking at DOGE and SHIB, which are at the top of the meme coin market, they appear to be moving in opposite directions. While DOGE’s price continues to rise, SHIB’s price seems to have stalled.
In the last 24 hours, DOGE saw a 5% increase, reaching $0.1374, while SHIB’s price fell by 0.32% to $0.00001768. While all major meme coin competitors showed a positive outlook in the last 7 days, this was not the case for SHIB. Due to the selling pressure from recent hack incidents, SHIB experienced a 2.82% decline, causing the market cap to fall below $10.5 billion again.
