Crypto Market Experiences Optimistic Reviews After ETF Launch

The introduction of the crypto ETF yesterday sparked a positive outlook on Friday, with Bitcoin leading the surge that also impacted altcoins. CoinGlass data highlights the market’s volatility, as over $230 million in trades were liquidated in 24 hours. Notably, the liquidation of $43.2 million in Bitcoin long positions underscores the significance of the event, despite the launch of a spot Bitcoin ETF surpassing $1.5 billion in the US.

Present Situation of Bitcoin and Alternative Cryptocurrencies

Bitcoin (BTC), the forefront cryptocurrency, experienced a 0.84% decline in the past 24 hours, slipping below the $46,000 mark to $45,982. Despite this, the market capitalization exceeded $900 billion. The trading volume also decreased by about 17% within 24 hours, reaching $43.2 billion.

Ethereum, often considered the leading altcoin, exhibited an opposing trend to Bitcoin, witnessing a 1% increase in the past 24 hours, pushing its price to $2,615. Currently, ETH holds a market value of $313.8 billion, but its trading volume decreased by over 36% in the last day, reaching $19.2 billion.

Tether (USDT) experienced an unusual drop to $0.99, temporarily deviating from its $1 peg. BNB, another prominent altcoin, saw a 2% increase, reaching $312.75, while Solana slipped back below $100.

XRP, amidst its longstanding volatility, saw a modest 0.19% increase in the last 24 hours, trading at $0.59. Avalanche (AVAX) rose by 0.8% to $38.

Pepe Coin witnessed a price drop of over 6% in the past day, trading at $0.000001345, and its market value declined to $561 million. The trading volume also experienced a significant decrease of over 14% in the last 24 hours, falling to $208 million.

In the midst of notable price fluctuations, the worldwide cryptocurrency market witnessed a roughly 0.6% increase, reaching a total of $1.76 trillion. Simultaneously, the Fear and Greed Index stands at 73, reflecting investors’ keen enthusiasm for cryptocurrencies.

Top-Performing Altcoins for Today

SUI demonstrated a robust performance with an over 18% increase in the past 24 hours, reaching $1.10 in trading price and a market value of $1.19 billion. The 24-hour trading volume surged by 162% to $889.2 million, delighting its investors.

Simultaneously, APT also witnessed a positive price shift, rising by over 9% in the last 24 hours to $9.93, elevating its market value above $3 billion. The growing interest in this altcoin is evident in the 22% increase in trading volumes over the same period.

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