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Bitcoin and Altcoins see fluctuations amid market retreat

Published Nov 27, 2023 12:36
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The cryptocurrency market has experienced a notable contraction, with Bitcoin and Ether facing declines in their values. As of today, Bitcoin's price decreased by 1.24%, trading at $37,238. Ether, the second-largest cryptocurrency by market capitalization, also fell by 1.48%, with its price currently at $2,043, struggling to overcome resistance at the $2,130 level. This downtrend has led to the overall crypto market cap shrinking by 1.12% to a total of $1.42 trillion.

The broader market saw mixed results. On Sunday, Bitcoin's price action was characterized by fluctuations, reaching highs of $37,800 and lows of $37,100. Despite these swings, Bitcoin's dominance slightly increased to 51.5%, and the market cap fell to $730 billion. Altcoins varied in performance; while Ethereum dipped up to 2% and Solana dropped by roughly 5%, Dogecoin and Shiba Inu eked out marginal gains. In contrast, the Terra ecosystem stood out, with its stablecoin and tokens Terra Classic (LUNC) and Terra (LUNA) posting significant gains.

Other cryptocurrencies such as Solana, Cardano, Dogecoin, Binance Coin, and Ripple recorded losses. However, some assets went against the grain, with Binance USD and Iota seeing positive movements, alongside Leo and Cosmos. Notably, Axie Infinity surged by 15.9%, reflecting a spike in player engagement.

Investors and market participants are keeping a close eye on these developments, as the volatile nature of the cryptocurrency market continues to present both challenges and opportunities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Bitcoin and Altcoins see fluctuations amid market retreat
 

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