Altcoin
Bitcoin Lost Momentum With ETF Outflows: 9 Altcoins Are Rising!
Even today the cryptocurrency market paints a complex picture. While Bitcoin (BTC) and many major altcoins have remained stable, names like Solana (SOL) and Pepe Coin (PEPE) have gained value. Emerging names also include AI-focused coins Render (RNDR), Injective (INJ), and NEAR Protocol (NEAR). The general cryptocurrency the market value decreased by 0.49% to $2.32 trillion, compared to $2.34 trillion recorded yesterday. Transaction volume in the past 24 hours decreased by 3.89% to $66.21 billion.
Bitcoin price and ETF outflows have attracted attention
According to data from CoinMarketCap, the price of Bitcoin has lost 0.66% since yesterday and is currently trading at $64,275.17. In the last 24 hours the minimum was $63,378.89 and the maximum was $64,705.90. Information provided by Farside Investors reveals that Bitcoin ETFs recorded outflows of $105.9 million on June 21. This situation could increase the volatility of Bitcoin in the coming period. That of Bitcoin the dominance is equal to 54.05%, with a decrease of 0.17%.
It is also noteworthy that the weekly outflows occurred over 4 trading days and that the markets were closed due to the Juneteenth holiday on June 19th. The lowest daily outflow was recorded at $105.9 million on Friday, June 21. Significant withdrawals of funds from Bitcoin ETFThese factors are causing concern among market analysts and investors.
This, along with weakness That of Bitcoin trading volume and price make its short-term prospects uncertain. Changes in investor sentiment could lead to further price declines. Famous crypto analysts such as Rekt Capital predict that Bitcoin may fall further in the coming days. Analysts argue that Bitcoin may experience a further decline in June, but this decline will be followed by a recovery and rally.
There is optimism in other altcoins
The price of Ethereum has been quite volatile over the past 24 hours. ET, which has lost 0.03% of its value as of this writing, is currently trading at $3,503.83. In the last 24 hours of activity it reached the minimum with 3,447.94 dollars and the maximum with 3,543.03 dollars. Despite recent moves by big whales to exchanges, ETH remains resilient, remaining above $3,500.
The price of SOL is increasing, contrary to the general market trend. SOL, which gained 1.92% in value, is currently trading at $134.99. SOL, which has entered an optimistic climate thanks to the launch of QSOL ETP in Canada, differs from other coins. Furthermore, after the Ripple the case was brought before the magistrate, the XRP price remained unchanged. XRP is currently trading at $0.4872, down 0.31%. In the last 24 hours of activity, the low reached $0.48 and the high reached $0.4949.
DOGE, SHIB on the rise
At the time of writing, Dogecoin (DOGE) price gained 0.26% to $0.1242. Shiba Inu (SHIB) price fell 0.02% to $0.00001798. However, a significant uptrend is visible in SHIB on the hourly chart. It is interesting to note that Pepper The coin was among the highest earning coins of the day. The other coins that increased the most are the following:
- Arweave (AR) price increased by 8.75% and reached $27.86.
- Pendle (PENDLE) price increased by 4.26% to $6.09.
- Render (RNDR) rose 3.03% to $7.65.
- Injective (INJ) and NEAR prices also gained around 3%.
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