On July 12, the cryptocurrency market displayed mixed price movements, with Bitcoin (BTC) fluctuating around the $57,000 mark despite steady inflows into ETFs. Meanwhile, Ethereum (ETH) and XRP remained in the green, while Solana (SOL) saw a decline.
Market Overview
The global cryptocurrency market cap dropped by 0.49% over the past day to $2.12 trillion. Bitcoin (BTC) showcased fluctuations around the $57K level despite strong ETF inflows. The global cryptocurrency market volume saw a 9.62% increase to $68.66 billion.
Bitcoin Price Analysis
Bitcoin’s price dipped by 0.58% to $57,069.93 at press time, with 24-hour lows and highs recorded at $56,561.06 and $59,387.38, respectively. Bitcoin’s market dominance decreased by 0.17% to 53.27%, reflecting a turbulent trajectory despite inflows of $78.93 million into U.S. Spot Bitcoin ETFs as of July 11. The German government continued its Bitcoin sell-off, holding slightly over 9,000 BTC, which may impact Bitcoin’s price if further dumps occur.
Ethereum Price Analysis
Ethereum (ETH) saw a 0.57% increase to $3,085.66, with 24-hour lows and highs of $3,058.66 and $3,208.94, respectively. Despite the anticipation of an ETH ETF launch, Ethereum faces resistance at the $3,200 level.
Solana Price Analysis
Solana (SOL) experienced a 2.16% drop to $137.10, with 24-hour bottoms and tops of $134.20 and $145.33, respectively. Solana’s decline contrasted with the broader market’s mixed performance.
XRP Price Analysis
XRP recorded a 3% upswing, trading at $0.452 at press time, with 24-hour lows and peaks of $0.4396 and $0.4528, respectively. The Ripple-backed digital asset maintained its position above the resistance level of $0.45.
Meme Coins and Altcoins
Dogecoin (DOGE) slipped by 0.21% to $0.1061, while Shiba Inu (SHIB) tumbled 1.18% to $0.00001613. Pepe coin (PEPE) saw a 2.91% dip to $0.000008813, with Bonk emerging as one of the top losers.
Top Gainers
- MANTRA (OM): Increased by 9.25% to $1.07.
- NEAR Protocol (NEAR): Surged by 8.66% to $5.02.
- Arweave (AR): Rose by 7.30% to $24.39.
- Maker (MKR): Jumped by 5.20% to $2,398.01.
Top Losers
- Bonk (BONK): Dropped by 9.13% to $0.00002334.
- Celestia (TIA): Fell by 7.62% to $6.33.
- Render (RNDR): Declined by 6.69% to $5.96.
- Brett (BRETT): Pulled back by 5.95% to $0.1113.
Market Outlook
Hourly charts indicate that BTC and ETH continue to experience market turbulence, each slipping by roughly 0.50%. The altcoin market displayed mixed actions, suggesting that volatility may persist throughout the day.
For further updates on crypto prices and market movements, stay tuned to Coingape.
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