Bitcoin Declines to $61,000 over Retail Selloffs
Market price of world largest cryptocurrency fell to $61,300 on Wednesday due to retail selloffs. The latest slump reversed moderate rebound witnessed in the crypto space yesterday.
Recall that most major digital assets rose on Tuesday with bitcoin (BTC-USD) rebounding to near the $62,000 mark. The CoinDesk Market Index, which tracks 192 digital assets, was up 4% in the past 24 hours.
Bitcoin (BTC-USD), the largest cryptocurrency by market value had climbed more than 4% yesterday to $62,094.29 as trading volume shrank 10.3% to $34.35 billion.
However, Ethereum (ETH-USD), the second-largest digital asset, gained 0.05 % to $3,377, according to data from CoinMarketCap.com.
BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, rose 037% on Wednesday, while Solana (SOL-USD), the fourth-largest has dipped by 0.7%.
XRP (XRP-USD) added 2%, Dogecoin (DOGE-USD) surged 10.5%, Cardano (ADA-USD) advanced 7.4%, while Toncoin (TON-USD) was up 1.7%.
The US 10-year Treasury yield closed at 4.238%, down from Monday’s 4.248%, while the five-year Treasury yield closed at 4.263%, down from 4.271%.
The global market value of the cryptocurrency industry was down by 0.11% in the past 24 hours to $2.27 trillion. Details from crypto exchange showed that trading volume decreased 27.22 % to $62.89 billion.
The total volume in DeFi is currently $4.01 billion, accounting for 6.38% of the total crypto market 24-hour volume.
The volume of all stable coins is now $59.36 billion, which is 94.39% of the total crypto market 24-hour volume. US Supports AfDB’s $117bn Capital Increase
