Bitcoin Rises to $83 as Sell Pressures Ease
Global cryptocurrency market capitalisation inched higher slightly as Bitcoin hovered around $83,000 on Friday amidst uncertainties. The crypto market has seen increased pressure from sell-side actors taking quick profit on major digital assets.
Bitcoin has seen huge sell pressure, just like Ethereum, Cardano, Dogecoin, and Solana, among others. BTC-USD has plunged by about 7% in the last seven days, while ETH-USD has lost more than 12% at the same time.
CAD-USD has lost 16% of its market cap in seven days, DOGE-USD has lost 15.8%, and SOL-USD is down by more than 9%. On Friday, the global crypto market cap is $2.7 trillion due to slight improvement sentiment, a 0.72% increase over the last day.
The total crypto market volume over the last 24 hours settled at $79.15 billion, which makes a 14.81% decrease. The total volume in DeFi is currently $5.86 billion, accounting for 7.41% of the total crypto market 24-hour volume.
Trading details revealed that the volume of all stable coins is now $75.29 billion, which is 95.12% of the total crypto market 24-hour volume.
Major digital assets were mixed late afternoon Thursday, with Bitcoin (BTC-USD) falling below $81,000. The CoinDesk Market Index, which tracks dozens of digital assets, including Bitcoin, shed 2.3% in the past 24 hours.
The Nasdaq 100 shed 2%, the S&P 500 fell 1.4% and Dow Jones Industrial Average decreased 1.3%. Bitcoin fell 3.1% to $80,223 according to CoinMarketCap data.
Ethereum (ETH-USD), the second-largest digital asset by market value, declined 1.5% to $1,851. XRP (XRP-USD) rose 0.2%, BNB (BNB-USD) added 2.1%, and Solana (SOL-USD) surged 2.6%.
Dogecoin (DOGE-USD) dropped 3.7%, while Cardano (ADA-USD) fell 4.4%. The US 10-year Treasury yield stood at 4.274%, declining from 4.314% Wednesday, while the five-year yield dropped to 4.028% from 4.077%.
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