Most major assets in the cryptocurrency market have declined over the past 24 hours, APA-Economics reports.
According to the CoinMarketCap platform, Bitcoin fell 1.69% over the past 24 hours to $84,122.74. However, the cryptocurrency has gained 0.95% over the past seven days and 5.70% over the past 30 days.
Ethereum fell 3.49% to $2,608.05, BNB declined 1.91% to $766.64, while Zcash dropped 1.72% to $1,317.63. Monero lost 0.72%, Bittensor fell 3.21%, and Solana declined 1.65%.
Gold-backed PAX Gold (PAXG), in contrast to the overall market trend, rose 0.32% to $4,148.09.
Analysts say the decline in the cryptocurrency market has been influenced by persistently high US Treasury yields, geopolitical tensions, and investors awaiting new signals regarding the US Federal Reserve's interest rate policy.
In addition, amid Bitcoin's decline from $85,500 to below $84,000, the liquidation of more than $400 million in long positions within one hour intensified selling pressure.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
