As the new week begins in global markets, the price movements of Bitcoin have been closely monitored by investors throughout the weekend. In addition, while some meme coins have started to see declines, a drop was also observed in AI-focused coins towards the end of the week. So, what is the current situation with cryptocurrencies as the week starts?
Current Bitcoin Status
Last week was an incredible one for Bitcoin. Bitcoin soared past its $69,200 level, reaching over $70,000 in futures trading. This was indicative of Bitcoin’s historical peak.
Subsequently, a noticeable pullback occurred in the price, dropping momentarily to $66,000. As of this morning, the BTC price continues to trade at the $68,500 level after a 1.52% decrease in the last 24 hours. BTC’s 24-hour trading volume saw a 43% increase, surpassing $36.6 billion.
Latest on Altcoins
On the other hand, if we examine the market’s high-volume altcoins, the situation looks a bit worse for Ethereum (ETH), the undisputed number 2 on the list. After a 2.5% decline, ETH’s price has fallen to $3,850. It is useful to remember that ETH had surpassed $4,000 in futures trading last week.
Things didn’t look too good for Solana (SOL) either. SOL’s price is trading at $140 after a 4.5% drop in the last 24 hours.
The biggest losers of the day were once again the meme coins. After a 6.2% drop in Dogecoin (DOGE), the price reached $0.1668, while Shiba Inu (SHIB) experienced a larger drop. SHIB fell to $0.00003212 after an 8% decline, having surpassed $0.000040 in previous weeks.
The only cryptocurrency in the top 10 with a positive outlook was Binance‘s native token, Binance Coin (BNB). BNB’s price rose by 5.62%, climbing above $521. Meanwhile, BNB’s market capitalization also saw an increase of over 5%, leaving $77 billion behind.
The rise in BNB’s price was reflected in the 24-hour trading volume as well. A 127% increase in trading volume pushed the value past $5 billion. This suggests that investors have shown great interest in the cryptocurrency and have been actively trading it in the last 24 hours.
