Bitcoin Retreats, Altcoins Follow Suit While KAS Surges

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Red was the dominant shade everywhere in the cryptocurrency charts on Wednesday morning. The OG cryptocurrency Bitcoin fell, retreating from the practically two-year excessive however costs have been nonetheless hovering across the peak of the latest rally.

Other cryptocurrencies adopted swimsuit, leaving crypto buyers jittery. However, Bitcoin’s latest worth surge has spurred requires a brand new crypto bull market, buoyed by expectations that the US Securities and Exchange Commission (SEC) will approve a spot Bitcoin exchange-traded fund (ETF) by Jan 10.

Bitcoin price slid 0.36% over the past 24 hours to $45,256, with its market capitalization at $886.54 billion. The 24-hour buying and selling quantity, nonetheless, jumped practically 28% to $32.7 billion.

Beyond Bitcoin, Ethereum — the second largest crypto — fell 0.82% to $2,368. At press time, its market capitalization stood at $284.67 billion. Ether’s buying and selling quantity over the past 24 hours surged over 37% to $11.68 billion.

Other tokens have been additionally weak, with Tether price down 0.05% and BNB off 2.08%. Solana plunged over 3% within the final 24 hours to under $108 whereas XRP shed greater than 1%. Memecoins additionally fell, with Dogecoin dropping 1.34%, and Shiba Inu sliding 1.78%.

The drop in costs of cryptocurrencies was mirrored within the world crypto market, which slid practically 0.47% to $1.73 trillion. However, the worry and greed index degree stood at 74, indicating investor sentiment is greed, which means they’re nonetheless eager on shopping for.

Top 3 Cryptos For Today

Pepe Coin

The worth of Pepe Coin has fallen over 4% over the past 24 hours to $0.000001367, sending its market cap tumbling by over 4% to $574.5 million. However, its buying and selling quantity over the past 24 hours was up practically 3% at $73.14 million.

Kaspa (KAS)

While main cryptocurrencies fell on Wednesday, KAS buyers have been rolling in dough, with the token rising practically 2% to $0.12 over the past 24 hours. The optimism was mirrored in its market cap, which expanded by 1.86% to $2.6 billion. The 24-hour buying and selling quantity surged over 30% to over $36.56 million.

Arbitrum (ARB)

The worth of Arbitrum jumped over 9% over the past 24 hours to $1.89. The token has appreciated greater than 47% within the final seven days and is sitting at a market cap of $2.41 billion. As of writing, its buying and selling quantity stood at $1.3 billion.