The cryptocurrency market experienced a modest increase in intraday value, rising by 0.93% to reach a total market capitalization of $2.13 trillion. Despite this overall growth, Bitcoin’s (BTC) price saw a slight dip of 0.50%, settling at $61,311.86. In contrast, while Ethereum (ETH), Solana (SOL), and Ripple (XRP) displayed minimal movement, meme coins showed a positive trend. However, Hamster Kombat (HMSTR) continued its downward trajectory, marking a 52% decline since its launch.
Bitcoin Update: Expiring Options Worth $1 Billion Stir Volatility Concerns
At the time of reporting, Bitcoin (BTC) is trading at $61,311.86, reflecting an intraday decrease of 0.50%. BTC trading volumes have also seen a decline of 22.25%, indicating a cautious approach from investors as Bitcoin options near expiration. With approximately 17,400 Bitcoin option contracts, valued at $1 billion, set to expire, potential volatility looms over the market. The put/call ratio of 0.75 suggests a higher number of long (call) contracts expiring, which could impact BTC prices in unpredictable ways. Curious about Bitcoin’s future prospects? Explore our detailed Bitcoin Price Prediction to find out more!
Altcoins Update: Hamster Kombat (HMSTR) Faces a 52% Decline Since Launch
Ethereum (ETH) managed to gain momentum, increasing by 0.44% to reach $2,376.54. Solana (SOL) maintained its positive trajectory with a 1.06% rise, bringing its price to $139.66. Meanwhile, XRP remained mostly unchanged, with a slight decrease of 0.10% to $0.5233. Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Wifecoin (WIF), experienced slight gains despite the bearish sentiment, indicating resilience in this sector. Hamster Kombat (HMSTR), currently showing a decline of 1.42%, could potentially see an upward trend if market conditions improve. Interested in Ethereum’s long-term price outlook? Check out our comprehensive Ethereum Price Prediction.
Top Gainers
- FTX Token: $2.39 (+19.20%)
- Beam: $0.01625 (+6.72%)
- Aave: $147.36 (+6%)
Top Losers
- Sui: $1.75 (-9.01%)
- Wormhole: $0.3154 (-7.90%)
- Ethena: $0.2873 (-5.84%)
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