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Crypto Market Remains Subdued as Bitcoin Hovers Below $66K
The cryptocurrency market has failed to regain its upward trajectory, with Bitcoin (BTC) struggling to breach the $66,000 mark decisively. The majority of altcoins are also trading in negative territory, with a few notable exceptions.
Bitcoin's Ascent Stalled at $66K
As depicted in the accompanying chart, Bitcoin's bullish momentum has waned, leading to a retracement of over 2% in the past 24 hours. The digital asset is currently hovering around $65,500.
Market sentiment is divided, with some anticipating further declines while others view the correction as a natural adjustment after a prolonged period of upward price action. Meanwhile, spot Bitcoin exchange-traded fund (ETF) inflows have remained negative for the fourth consecutive day.
Ripple Bucks Market Trend
Despite the bearish undertones, Ripple's XRP has defied the market sentiment, surging by approximately 4% over the past day. The coin is currently trading near $0.63, making it one of the best-performing major altcoins alongside Binance Coin (BNB).
Altcoins Witness Mixed Fortunes
Fantom (FTM) has emerged as the top-performing cryptocurrency over the past 24 hours, experiencing a remarkable 12.1% gain. It is followed by Internet Computer (ICP) and Ronin (RON), both of which have appreciated by approximately 10%.
At the opposite end of the spectrum, Bittensor's TAO token has plummeted by 9%, while FLOKI has declined by 8%.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. Investors should conduct their own due diligence before making any investment decisions.
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