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Economic data released in the United States on February 13 caused significant fluctuations in the global cryptocurrency market. While Bitcoin 
$105,710, Ethereum 
$2,539, and other major cryptocurrencies moved in various directions, traders remained cautious amid the uncertainty. The decrease in trading volume and the rise in volatility indicate that close monitoring of the market trends is essential. As some cryptocurrencies enter an upward trend, the overall market continues to exhibit volatility.
Bitcoin and Ethereum Experience Continued Volatility
Bitcoin hovered near the $97,000 mark, experiencing brief periods of value loss. Meanwhile, Ethereum fluctuated around $2,700. The uncertainty surrounding these two major cryptocurrencies led traders to adopt a more careful approach in their short-term movements.
Ripple (XRP) 
$2 made headlines with a notable increase of over 4%. Kaspa also recorded significant gains, distinguishing itself among positively performing assets. Conversely, meme-based cryptocurrencies showed mixed results, as Dogecoin 
$0.193803 and Shiba Inu faced declines, while another meme cryptocurrency experienced modest price gains.
Market Value and Trading Volume Decline
The global cryptocurrency market value declined by 1% from the previous day, dropping to $3.2 trillion. Trading volume also saw a decrease of 21.44%, with daily trading volume falling to $102.13 billion.
Factors contributing to this downturn include the economic data from the U.S. and macroeconomic developments. Traders are closely monitoring the impact of these announcements on the market. The continued volatility signals that the market will seek direction in the coming days.
Experts suggest that the cryptocurrency market is vulnerable to high volatility in the short term, urging traders to proceed with caution. Particularly, changes in market sentiment and economic factors play a crucial role in determining price movements.
