Bitcoin Drops to US$95,000 after Fresh Rally
The bitcoin price has dropped to $95,000 in the cryptocurrency markets on Thursday after a fresh rally lifted the orange coin above $96,000 late on Wednesday.
Other top cryptocurrencies were seen making uptrends as retail investors began to take fresh positions. The world’s largest crypto asset is projected to cross $100,000 level in 2024.
BTC-USD had printed close to $100,000 last week before it retreated due to profit taking. Some crypto analysts attributed the surging Bitcoin price to increased demand for Exchange Trade Fund linked to orange coin.
According to data from the CoinMarketCap.com, the global crypto market cap reached $3.29 trillion on Thursday, which makes a 1.85% increase over the last day. Total trading volume over the last 24 hours shrank about 5.15% to $195.12 billion. The total volume in DeFi is currently $15.29B, accounting for 7.72% of the total crypto market 24-hour volume.
Due to increased demand, the volume of all stable coins has reached $182.43 billion, which is 92.15% of the total crypto market 24-hour volume. Major digital assets were firmer late Wednesday, with Bitcoin (BTC-USD) trading above $96,000 level.
The CoinDesk Market Index, which tracks 126 digital assets, was up 6.9% in the past 24 hours. The Nasdaq 100 was down 0.6%; the S&P 500 fell 0.4%; and the Dow Jones Industrial Average was down 0.3%.
Ethereum (ETH-USD), the second-largest digital asset, soared 8.9% to $3,623. Solana (SOL-USD) was up 4.7%, and BNB (BNB-USD) rose 4.4%. XRP (XRP-USD) was up 5.5%, and Dogecoin (DOGE-USD) rose 4.2%. Cardano (ADA-USD) increased 5.8%. Nigeria Eurobond Yield Drops to 9.6% on Fresh Rally
