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COINTURK NEWS > Cryptocurrency News > Positive Outlook in Crypto Market Following ETF Launch
Cryptocurrency News

Positive Outlook in Crypto Market Following ETF Launch

In Brief

  • ETF launch leads to a positive trend in the crypto market.

  • Bitcoin dips below $46,000 despite overall market growth.

  • Altcoins show mixed reactions; some rise while others fall.

COINTURK NEWS
COINTURK NEWS 1 year ago
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After the ETF launch in the crypto market yesterday, a positive outlook emerged on Friday. The rise, led by Bitcoin, also affected altcoins. Data provided by CoinGlass indicates the market’s volatile nature. More than $230 million in trades were liquidated within 24 hours, and the liquidation of just $43.2 million in Bitcoin long positions alone reflected the seriousness of the event. This occurred despite the launch of a spot Bitcoin ETF exceeding $1.5 billion in the US.

Contents
Current Status of Bitcoin and AltcoinsToday’s Best Performing Altcoins

Current Status of Bitcoin and Altcoins

The price of Bitcoin (BTC), the pioneer of cryptocurrencies, fell by 0.84% in the last 24 hours, dropping below the $46,000 level to $45,982, while the market capitalization rose above $900 billion. The trading volume dropped by approximately 17% in 24 hours, falling to $43.2 billion.

Ethereum, considered the king of altcoins, showed a trend opposite to Bitcoin, with an increase of over 1% in the last 24 hours. Following the rise, the price climbed to $2,615. At the time of writing, ETH had a market value of $313.8 billion. However, its trading volume saw a decline of over 36% in the last 24 hours, falling to $19.2 billion.

Tether (USDT) experienced an unusual drop to $0.99, meaning it temporarily lost its $1 peg. Another leading altcoin, BNB, saw an increase of over 2%, rising to $312.75, while Solana dropped back below $100.

XRP, which has been in the spotlight for years due to its tumultuous periods, showed an increase of 0.19% in the last 24 hours, finding buyers at $0.59. Avalanche (AVAX) increased by 0.8% to $38.

Pepe Coin’s price experienced a drop of over 6% in the last 24 hours, trading at $0.000001345. Its market value fell to $561 million. The trading volume also saw a significant drop of over 14% in the last 24 hours, falling to $208 million.

Amidst the significant price fluctuations, the global crypto market saw an approximate increase of 0.6%, reaching a level of $1.76 trillion. On the other hand, the Fear and Greed Index is at 73, indicating investors’ enthusiasm for cryptocurrencies.

Today’s Best Performing Altcoins

SUI saw an increase of more than 18% in the last 24 hours, pleasing its investors. As of writing, SUI’s trading price rose to $1.10, while its market value reached $1.19 billion. The 24-hour trading volume also saw a notable increase, with a 162% rise to $889.2 million.

Meanwhile, APT also experienced a price increase. With an increase of more than 9% in the last 24 hours, APT rose to $9.93, pushing its market value above $3 billion. The trading volumes in the last 24 hours reflect the growing interest in the altcoin, with an increase of over 22%.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 12 January, 2024 - 12:00 pm 12 January, 2024 - 12:00 pm
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