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Crypto Market Displays Increased Selling Pressure As Top Tokens Stumble!

Aug 1, 2024 #仮想通貨
Crypto Market Displays Increased Selling Pressure As Top Tokens Stumble!コインチェーン 仮想通貨ニュース

This article examines the increased selling pressure in the cryptocurrency market as top tokens, including Bitcoin and Ethereum, experience significant declines.

Points

  • The cryptocurrency market has dropped from $2.40 trillion to $2.36 trillion.
  • Bitcoin recorded a loss of 1.17% in the past 24 hours.
  • Ethereum’s trading volume declined by 25.8%.
  • Increased selling pressure is affecting the market.
  • The market is hovering close to important support levels.

Market Overview

The cryptocurrency market has experienced increased selling pressure, dropping from $2.40 trillion to $2.36 trillion within the past 24 hours, a correction of 1%. This decline reflects broader market trends affecting top tokens like Bitcoin and Ethereum.

Bitcoin’s Decline

Bitcoin recorded a loss of 1.17% in the past day, with a trading volume of $28.01 billion. Its dominance has dropped from 55.5% to 54.8% this week, indicating a shift in market dynamics and increased selling pressure.

Ethereum’s Struggles

Ethereum has also faced challenges, losing approximately 1.5% from its portfolio and experiencing a 25.8% decline in daily trading volume. Currently, Ethereum is hovering close to its important support level of $2.5K.

解説

  • The cryptocurrency market is experiencing increased selling pressure, leading to a decline in market cap.
  • Bitcoin and Ethereum have recorded significant losses, reflecting broader market trends.
  • Increased selling pressure is impacting market dynamics and investor sentiment.
  • The market is hovering close to important support levels, indicating potential volatility ahead.