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    Monday, August 17

    Bitcoin, Ethereum, Rebound after Retail Investors Book Profits

    Julius AlagbeBy Updated: Cryptocurrency No Comments2 Mins Read
    Bitcoin, Ethereum, Rebound after Retail Investors Book Profits

    Bitcoin, Ethereum, Rebound after Retail Investors Book Profits

    Bitcoin, Ethereum, and some other cryptocurrencies prices rebounded in the cryptocurrency market after massive sell pressure caused by retail investors profit-taking. However, the renewed interest in major cryptocurrencies assets lifted market capitalisation of all digital coins higher, weekend data showed.

    According to information from CoinMarketcap.com, The global crypto market cap reached $3.34 trillion, a 0.64% increase over the last day Market data revealed that the total crypto market volume over the last 24 hours reached $189.96 billion, which makes a 47.73% decrease.

    Also, the total volume in DeFi printed higher at $14.87 billion from the previous day, accounting for 7.83% of the total crypto market 24-hour volume. The volume of all stable coins is now $175.78 billion, which is 92.53% of the total crypto market 24-hour volume.

    Major digital assets were mixed late Friday, with Bitcoin (BTC-USD) struggling for direction below the $97,000 level. The CoinDesk Market Index, which tracks 126 digital assets, rose 1.5% in the past 24 hours.

    The Nasdaq 100 advanced 1% in late trading, while the S&P 500 rose 1.1% and the Dow Jones Industrial Average added about 1.2%. Bitcoin edged up 0.1% to $96,839 as its trading volume reached $109.24 billion, according to CoinMarketCap data.

    The most popular digital currency, which hit an all-time high above $108,000 on Tuesday, was on track for a weekly loss of nearly 5%. Ethereum (ETH-USD), the second-largest digital asset by market value, climbed 1.9% to $3,450, while dropping about 12% this week.

    XRP (XRP-USD) added 0.9%, while BNB (BNB-USD) was 1.2% higher. Solana (SOL-USD) fell 1.9%, and Dogecoin (DOGE-USD) dipped 0.9%, while Cardano (ADA-USD) jumped 4.7%.

    The US 10-year Treasury yield closed at 4.526%, easing from Thursday’s close of 4.568%, while the five-year yield dropped to 4.38% from 4.423%. # Bitcoin, Ethereum, Rebound after Retail Investors Book Profits NGX Index Ticks Up as GTCO, OANDO See Intraday Rally

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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