Selling pressure has intensified again in the cryptocurrency market. All major digital assets have lost value over the past 24 hours, while the price of Bitcoin has fallen below $76,000, APA-Economics reports.
According to data from the CoinMarketCap platform, Bitcoin's price declined by 5.88% over the past 24 hours to $75,589.04. The cryptocurrency's price has decreased by 3.23% over the past seven days and by 10.08% over the past 30 days.
Ethereum fell by 7.79% to $2,228.18, while BNB declined by 3.01% to $691.98. Zcash lost 2.56% of its value, falling to $1,277.96, while Monero decreased by 2.83% to $620.66.
Among other cryptocurrencies, Bitcoin Cash declined by 2.51% to $274.73, while Bittensor dropped by 6.63% to $219.57. Quant lost 8.25% of its value, falling to $189.46.
Declines were also recorded among gold-backed cryptocurrencies. PAX Gold (PAXG) fell by 2.34% to $4,030.70, while Tether Gold (XAUT) lost 2.18% of its value, declining to $4,025.43.
The CoinMarketCap 20 index decreased by 6.04% over the past 24 hours to 153.60 points. Bitcoin's market capitalization fell to $1.52 trillion.
Analysts say the sharp decline in the cryptocurrency market may be linked to investors moving away from risky assets and increasing selling pressure. The fact that the price increases recorded the previous day were not sustained indicates that uncertainty remains in the market. The decline in gold-backed digital assets alongside major cryptocurrencies shows that selling pressure has spread across different segments of the market.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
